Skip to content
Home » China eCommerce Market Report

China eCommerce Market Report

china ecommerce market report

China Ecommerce Market Summary

China is an innovative e-commerce market that is big and poised to get bigger
• China is arguably the world leader in e-commerce, boasting both huge sales volumes and high levels of innovation, particularly in mobile and social commerce.
• Some 64 percent of the Chinese population have shopped online,1 but this still leaves huge growth potential via the remaining one-third of citizens who are yet to make their first purchase.
• China’s e-commerce is based around ‘super-apps’, which allow users to socialize, shop, bank and pay for products within a single ecosystem. WeChat and Alipay dominate.

China’s rising middle-class fuels strong sales growth prediction

China is home to a US $1.9 trillion business to consumer e-commerce market, the largest in the world. E-commerce accounts for 30 percent of total retail, and users spend an average of US $2,058 online each year – roughly half the amount citizens of
fellow e-commerce giants the U.S. and UK spend. Double-digit growth is projected to 2024, at a compound annual growth rate (CAGR) of 16.6 percent, one of the higher rates in our report. This growth is underpinned by a rising middle class, which is projected to reach 550 million people by 2022, a figure one and a half times the size of the entire U.S. population.

China is a worldleading e-commerce market that boasts huge sales volumes, high innovation and a vibrant social and mobile commerce environment.”

 

The Chinese clock up hours on smartphones every day, making for a mobile-first shopping model

Citizens spend an estimated average of three hours and six minutes a day on their smartphones, a figure that is expected to rise to just under three and a half hours in 2022. It should therefore come as no surprise that China is a nation that prefers to shop via smartphone, with 64 percent of e-commerce completed on a mobile device.

See also  Why Thailand Still Lacks the Trust in E-Commerce Security & Payment?

Of these transactions, 65 percent are carried out on an app,11 making optimization for app-based e-commerce essential for incoming merchants. Social super-apps like WeChat, Pinduoduo and Douyin have made live streaming a key feature of Chinese
e-commerce, and its use is particularly dominant in the lucrative beauty market.

“Cross-border merchants need to remain aware of China’s unique import and tax rules”

 

Digital wallets rule in China, blending payments technology with tradition

china ecommerce wallets

Digital wallets are the primary e-commerce payment method in China, accounting for 59 percent of all completed transactions.13 This high uptake is supported by super-apps and sites integrating their own digital wallet payment systems – for example, WeChat Pay within WeChat, and Alipay within Alibaba, which allow for one-click e-commerce payments. Traditional elements of Chinese culture, such as red envelope money gifting, have been incorporated into these payment apps. Card is the second-most popular payment option, with a 21 percent market share, followed by bank transfers in third at 15 percent. Debit cards are preferred over credit.

Cross-border e-commerce makes up one in five sales made by Chinese consumers

Despite the huge amount of choice, variety and innovation in China’s domestic e-commerce market, cross-border shopping is still an important feature of the country, with 39 percent of online shoppers having made a purchase from abroad. Cross-border e-commerce accounts for 13.5 percent of total e-commerce, with Japan (24 percent), the Australia (14 percent) and the U.S. (12 percent) the most popular overseas destinations to shop from.

China has a ‘positive list’ for approved e-commerce product categories that can be imported into the country with minimal customs and compliance requirements, and a preferential tax rate of 9.1 percent. To qualify, these items must be shipped to a bonded warehouse before they are sent on to the buyer.

See also  Indonesian Sinarmas & others Invest $US12.5M in aCommerce's Ardent to Expand E-Commerce Ventures in Indonesia

China sets the pace for e-commerce trends and is years ahead of other nations

Group buying is on the rise in China, whereby shoppers access significant discounts and flash sales if they buy in groups.

The online ‘re-commerce’, or second-hand shopping market reached RMB 1 billion (US $156.3 million) in 2020. Re-commerce is set to overtake fast fashion by 2028. This is part of a wider cultural shift towards sustainability and acceptance of pre-owned goods. Chinese influencers such as Austin Li and Viya are still hugely important, but ‘key opinion consumers’
are fast emerging as rivals. Unlike influencers, key opinion consumers do not promote products for brands, or work in social media full-time. They instead occasionally give talks and reviews on items they have personally bought. They are viewed as everyday people giving honest reviews, with their opinions given more weight as a result.

@Report by JPMorgan

EcomEye.com Southeast Asia eCommerceFor Press Release and guest posts, feel free to reach mb[at]ecomeye.com


66 thoughts on “China eCommerce Market Report”

  1. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  2. This website is a gateway to intellectual enlightenment, offering a wealth of meticulously crafted articles that expand our understanding of the world. The administrator’s dedication to curating thought-provoking and insightful content is truly admirable. With each visit, I am greeted by a treasure trove of knowledge, carefully researched and expertly presented. The administrator’s ability to distill complex ideas into accessible and engaging narratives is exceptional. I find myself captivated by the depth of analysis and the fresh perspectives shared on this platform. This website has become a trusted companion on my journey of intellectual growth and discovery. I am grateful to the administrator for their unwavering commitment to delivering exceptional content that ignites curiosity, challenges assumptions, and broadens horizons.

  3. I wanted to express my gratitude for this well-written and insightful post. It’s evident that you’ve gone above and beyond to deliver valuable information. Thank you for enriching our understanding with your work!

  4. This is really interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!

  5. I’m often to blogging and i really appreciate your content. The article has actually peaks my interest. I’m going to bookmark your web site and maintain checking for brand spanking new information.

  6. Hi there to all, for the reason that I am genuinely keen of reading this website’s post to be updated on a regular basis. It carries pleasant stuff.

  7. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  8. I’m often to blogging and i really appreciate your content. The article has actually peaks my interest. I’m going to bookmark your web site and maintain checking for brand spanking new information.

  9. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  10. Windows 10 Pro Retail lisansı, yasal, güvenilir ve en son özelliklerle donatılmış bir anahtardır. Performansınızı artırır, güncellemeleri alır ve istediğiniz bir PC’ye kolayca yükleyebilirsiniz. Güvenilir satıcılardan lisansınızı edinerek Windows deneyiminizi güvenli ve sorunsuz hale getirin. Hemen şimdi en iyi Windows deneyimini yaşamak için Windows 10 Pro Retail lisansını alın.

  11. Windows 11 Pro Retail lisansı, doğrudan prolisans.com üzerinden güvenli bir şekilde satın alabilirsiniz. En son özelliklere sahip bu lisansla işletim sisteminizi güncelleyin ve işinizi daha verimli hale getirin. Sınırlı sayıda lisans mevcut, hemen şimdi siparişinizi verin ve Windows 11 Pro’nun ayrıcalıklarının tadını çıkarın!

  12. This is really interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!

  13. naturally like your web site however you need to take a look at the spelling on several of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth on the other hand I will surely come again again.

  14. naturally like your web site however you need to take a look at the spelling on several of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth on the other hand I will surely come again again.

  15. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  16. Pingback: Top 10 China online shopping sites 2023

  17. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

Your thoughts? Comment here!