Over half of all the world's online retail purchases take place in China: yStats.com report
Online business research firm yStats.com has published a new report focused on the global leader in online retail sales.
By: yStats.com GmbH
China's domination of global online retail will continue through "new retail" and M-Commerce
Through the continued integration of online and offline retail sales, termed "new retail" as well as other trends, China's piece of the worldwide online retail pie, already over half, will grow even larger in the next few years. Varying sources cited in the yStats.com report project continued double digit year to year growth in online sales in China through 2023. Contributing to this growth are the trends of social media shopping and mobile commerce. Close to 80% of all mobile shopping globally takes place in this one nation. Another trend is cross-border shopping as online shoppers in China are increasingly shopping outside of their borders, and China is a popular destination for web shoppers around the world.
Two online merchants prevail in Chinese B2C E-Commerce
Global online merchant Alibaba controlled over half of online retail sales in China last year according to sources referred to in the yStats.com publication, closely followed by JD.com, another China-based global seller. Both enterprises have recently advanced the move toward omnichannel or "new" retail as Alibaba invested in a large furniture retailer and JD.com bought into a domestic appliance chain. JD.com has also opened its first clerk-less convenience store. Both large companies have taken note of the social commerce trend and have explored partnership with social media platforms.
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