2014 E-commerce Trade in China Shown as Positive
Published By : 04 Aug 2015 | Published By : QYRESEARCH
While the Chinese economy is currently in a slump, reports released have shown that the nation’s 2014 e-commerce sector had soared. The growth was largely attributed to and improvement in the Internet infrastructure, combined with a sharp increase in the number of smartphone users.
Current report also show that the transaction volume of all the shopping websites in China had grossed US$2.68 trillion (16.39 trillion Yuan). The report was released by the National Bureau of Statistics on Monday. This sum marks an increase of 59.4 percent in the year on year growth.
China’s largest shopping website Taobao.com held 44.3 percent despite being a third-party platform. Self-operated stores held 55.7 percent of the market shares. Twenty of China’s largest online websites witnessed and average transaction of 6.22 trillion Yuan. This summed up nearly 90 percent of the total third-party platforms.
Most businesses in China are now looking to online shopping sites to handle extra stocks of goods in order to reduce costs and improve their profitability. The price-conscious consumers prefer online shopping for a multitude of choices including ease and availability.
Sun Qingguo, an NBS official, said that the greatly expanding Internet shopping segment coupled with the mobile network has created a better experience for shoppers and retailers. They have given large space for the development of e-commerce.
China hosted a 4G network that includes 361 million online shoppers in 2014. It aided in the growth of the consumer goods market, helping China overtake the U.S. to lead the world in terms of volume of deliveries.
Sun also said that the booming e-commerce will create a greater demand of consumption. It will in turn prompt a new wave of innovations and investment in China.