China's E-commerce to Surge, Set to Lead Globally by 2015
China's e-commerce landscape is set to undergo significant growth and transformation in the coming years. By 2015, the rate of online shoppers in the country is projected to reach 44%, with China poised to become the world's largest e-commerce market that year.
The surge in online shopping can be attributed to the rapid increase in internet penetration and a growing middle class with disposable income. In 2010, only 23% of Chinese consumers shopped online, a significant jump from 10% in 2006. This trend is expected to continue, with the number of online buyers projected to more than double from 142 million in 2010 to 329 million by 2015.
E-commerce in China is forecast to grow at an impressive annual rate of 33% in the coming years. By 2018, the market volume is anticipated to reach $314 billion (€236.965 billion). This growth is expected to outpace that of the United States, making China the global leader in e-commerce.
The e-commerce sector in China is expected to contribute increasingly to the country's retail sales. By 2015, it is projected to represent 7.4% of retail sales, up from 3.3% in the past. This growth is set to continue, driven by a combination of factors including increased internet access, rising disposable income, and a growing preference for online shopping among Chinese consumers.
