Over 600 million internet users and an annual ecommerce revenue growth rate of 120%, makes China the fastest growing and soon-to-be the largest ecommerce market in the world. Rapid adoption of digital and mobile technologies has fueled the torrid growth of online shopping.
By 2015, China’s online transactions is projected to reach US $540 billion; and by 2020, according to the Alibaba Group Research Center, China’s ecommerce market is expected to exceed the combined markets of the US, Germany, France and Great Britain. As Alibaba.com founder Jack Ma put it, “In other countries, ecommerce is a way to shop. In China, it’s a lifestyle.”
Reaching internet consumers and building an online brand presence beyond the Great Firewall, presents global retailers with as many opportunities as it does challenges. In addition to a magnitude of regulatory and technical requirements, the dynamic landscape of China’s ecommerce market is shaped by social influence, market trends and consumer behavior that are unique to China.
Key topics that were explored in this report include:
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