China’s ecommerce market to pass $1.1tn in 2017
Ecommerce sales in China are expected to pass $1.132 trillion in 2017, accounting for nearly half of the worldwide retail ecommerce sales, according to eMarketer.
More than 75% of ecommerce sales in China are on a mobile device
China’s ecommerce sales will account for 23.1% of all retail sales in China in 2017, however, this figure is expected to increase to 40.8% by 2021.
The popularity of shopping on a mobile phone is expected to continue with eMarketer predicting more than 75% of ecommerce sales – over $1tn - will be transacted via a mobile device.
China is the world’s largest ecommerce market with a significant lead on other markets including the US ($450.81bn), UK ($110.07bn) and Japan ($95.33bn).
Worldwide retail ecommerce sales are expected to reach $2.290 trillion in 2017, according to eMarketer’s latest worldwide retail forecast.
eMarketer senior forecasting analyst Oscar Orozco said China’s ecommerce market is set for continued growth thanks to the proliferation of mobile buying and the dominance of marketplaces such as Alibaba, JD.com and Tmall.
“Growth in online purchasing is being spurred along by a growing comfort with mobile shopping, greater spending by consumers in smaller cities, and the expansion in the variety of goods being purchased,” said Orozco.