We are the top and most visible Web & Marketing Agency for China … 1) E-commerce shopping festivals. In the next four years Chinese online sales are expected to reach US$1.8 trillion which will be more than double the size of the US market. In this special edition of China Briefing, we provide an overview of the retail industry in China and the procedures for setting up a retail shop, focusing specifically on brick-and-mortar physical retail stores. Previous Article « Pet Food—China’s Newest Frontier for Foreign Investment? E-Commerce Market in China is developing very fast these few decades. Suwatchai Songwanich is an executive vice-president with Bangkok Bank. A key metric that has placed the US at the top of our ranking this year is the number of cross-border online shoppers. Seventy-eight percent of respondents were concerned with the authenticity of items sold online. and the size of the overall US eCommerce market. Sorry, your blog cannot share posts by email. In comparison, retail sales of the physical stores went up by 7.2% only. It is no surprise that China is the most dynamic e-commerce market in the world today. 28 Sep 2020 at 12:30, newspaper section: The US has the second highest number of cross-border online shoppers in the world – 82.72 million – although as a percentage of total online shoppers, it places significantly lower. Contact Us. In our experience, mastering the country’s e-commerce landscape is a journey specific to an industry and a company. In 2014, there were 600 million Internet users in China (twice as many as in the US), making it the world's biggest online market. We forecast that retail sales in China will shrink by 4.0% this year. Five key trends driving China’s e-commerce market. In 2023, e-commerce in China was forecasted to represent around 64 percent of the total retail sales market. A Guide to The Complex & Unique Chinese Online Retail Landscape: China E-Commerce is ‘Just the Beginning’: I was lucky enough to be invited to Alibaba’s London HQ last month for talks on China digital growth & strategy from China’s leading E-Commerce Giant. Home to the world’s largest ecommerce market, two of the world’s largest online retailers (JD.com and Alibaba) and more than 900 million internet users, marketing and selling in China is a tantalising prospect for any western ecommerce company. Promising growth exhibited by e-commerce platforms in emerging countries, including India and China, is compelling manufacturers to reorient their distribution strategies for these countries. China’s share of global ecommerce retail sales has already reached a whopping 40% at the end of 2015 and is on the way to reach $1 in 2017. This is primarily due to the ease of making comparisons online, but also because social networking and review sites allow consumers to make more informed choices. Based on data of Q4, 2017, Alipay keeps leading the market with a market share of 24.50%. In this issue of China Briefing Magazine, we demystify some complexities of conducting business in China by introducing the main certification requirements for importing goods into the country; the basics of setting up a representative office; as well as the structure and culture of State-owned enterprise in China. China Retail Industry Report 2014 E-Commerce Across Asia: Trends and Developments 2014 Next Article Qingdao’s Blue Economy: Marine Investment on the Rise ». Still, China will surpass the US to become the largest retail market in the world for the first time—with $5.072 trillion (RMB35.043 trillion) in sales—as the US market … The Ecommerce Report China 2018 (Free) provides a brief overview of the state of ecommerce in China. Several other e-commerce-related challenges have arisen or been further amplified during this pandemic. Further, we have invited our partner Direct HR to offer some insights on the talent landscape in the retail industry, as well as tips for recruiting retail personnel in China. Cross-border e-commerce has been considered the booming backdoor avenue, especially in China. A Look at the Evolving E-Commerce Landscape . Experiential retail is common to building brand love, more than half of the population uses mobile payments and online deliveries are nearly instant in as little as 30 minutes—showcasing the overall maturity of China’s ecommerce market. With 243 million of e-shoppers and an annual increase of 30 million new users, China E-commerce is taking more and more share in the global e-commerce market. Pockets full of disposable income, the latest iPhone model in hand, and ready to purchase on a variety of shopping apps, the potential is large. The rise of e-commerce has been a long time coming, but the market’s progressive size and impact has caught many by surprise. UnionPay is not left behind too much with 23.89%, while Tencent Finance takes a market share of 10.17%. Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Reddit (Opens in new window), Click to email this to a friend (Opens in new window). The Middle Kingdom’s near 1.4 billion population, its traditional and innovative products together with the government’s censorship have created a prospering economy – online and offline. E-commerce is gaining market share in China at a time when overall retail spending is growing and contributing the bulk of gross domestic product (GDP) growth. The Ecommerce Report China 2018 (Free) provides a brief overview of the state of ecommerce in China. SHANGHAI – China is currently experiencing huge growth in e-commerce. Pet Food—China’s Newest Frontier for Foreign Investment? In 2013, Alibaba had an e-commerce market share of 80% in China. The next most popular categories were women’s shoes (39 percent), women’s apparel (36 percent), and accessories and bags (both at 34 percent). social commerce model, and a trusted digital payments infrastructure. For further information, please email china@dezshira.com or visit www.dezshira.com. E-COMMERCE IN THAILAND Thailand’s E-Commerce Landscape Southeast Asia has witnessed an e-commerce phenomenon since 2012 but has grown substantially in the past two years, with Gross Merchandise Value (GMV) of first-hand goods surpassing AUD$13.3 billion in … For nearly a decade, China's B2B market was ruled by the e-commerce … The primary payment method for online purchases in China has changed over time. While e-commerce represents, at best, roughly one-tenth of the total $28 trillion global retail market, it’s growing so rapidly that it’s driving most of the growth. Selling to China Required fields are marked *. great deal more attention. Vogue Business in China just launched its 2020 New Fashion Capital Index Report, which measures the power and capital of 12 representative municipalities, provincial capitals, or major cities in China. It is estimated that e-commerce in China will be worth US$540 billion by 2015, and by 2020 worth more than e-commerce in the U.S., the UK, Japan, Germany and France combined. In line with this, Nielsen has identified five key trends that we believe are driving the development of the market, and which will be essential for businesses to leverage to ensure success in 2018. Adopt an integrated platform strategy. Social commerce is emerging as a new growth area in China’s e-commerce market. The report also includes a discussion of the key vendors operating in this market. As mentioned in a recent column, the People's Bank of China is also piloting its own mobile payment platform using its new digital currency DECP, the digital version of the renminbi. Nevertheless some negative fee… A recent trend in China’s Internet … Thank you for subscribing our enewsletter. E-Commerce Trends and Developments in Asia-Pacific, subscribing to our complimentary update service, E-Commerce Across Asia: Trends and Developments 2014. In 2014, there were 600 million Internet users in China (twice as many as in the US), making it the world's biggest online market. Prior to the Flipkart deal, Walmart lacked roots in the e-commerce market despite having entered India in 2007 through a venture with local conglomerate Bharti Enterprises to build out a line of stores under the name Best Price Modern Wholesale. During the first seven months of this year, China's online retail sales rose 9% from the same period last year to 6.08 trillion yuan, accounting for 25% of overall retail sales. In comparison, retail sales of the physical stores went up by 7.2% only. Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. The region is contributing 53.6 percent of the incremental trade volume over the period of 2014 to 2020. The growth in the number of online shoppers—and the sums of money consumers are spending via digital channels—is astounding. While men were found to spend more on individual purchases, women spend more overall in their online purchases. According to PwC’s Economic Quarterly Q1 2017, the national online retail sales of goods and services reached 1.40 trillion yuan in the first quarter, 32.1% higher than a year ago. E-commerce in China is estimated to exceed 5000 billion RMB in 2015. Website hosted outside of mainland China takes a VERY long time to charge.=> A good Ecommerce website in China requires host in China. And an ICP certificate is also very important in order to have less chance to be censured by the government. This jumped to RMB1,657 for 25-29 year olds and continued to climb for the oldest age group surveyed, 45-49 year olds, who spent an average of RMB2,108 on luxury goods purchased online. With 854 million internet users, China is already the world's fastest growing and largest e-commerce market with a value of $1.94 trillion last year, an increase of 27% from 2018. published : Despite these challenges, using phones to shop online is already very popular in China; around 55 percent of China’s smartphone users have made a mobile payment, while the equivalent figure in the U.S. is just 12 percent. In 2019, retail e-commerce spending in China was … RELATED: E-Commerce Trends and Developments in Asia-Pacific. Previously cash-on-delivery was the favored method of payment, but this has since changed to automated online payments. In the next four years Chinese online sales are expected to reach US$1.8 trillion which will be more than double the size of the US market. Dublin, Nov. 06, 2020 (GLOBE NEWSWIRE) -- The "Global e-Commerce Technology Market 2020-2024" report has been added to ResearchAndMarkets.com's offering. Finally, the report found a shift away from cash-on-delivery payments toward the use of online payments. through more, thanks for the information! Marketing to China it's also an Agency. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the pharma e-commerce market in Europe and it is poised to grow by USD 10.69 billion … KPMG recently surveyed 10,200 people on their online spending habits on luxury goods. Retailers know that e-commerce platforms can compensate for limited physical-store networks. With 854 million internet users, China is already the world's fastest growing and largest e-commerce market with a value of $1.94 trillion last year, an increase of 27% from 2018. E-Commerce in China Alibaba's Tmall.com Reigns as King of Chinese E-Commerce Tmall.com -- the world's largest business-to-consumer retail platform -- and continues to gain market … These include price gouging (i.e. Dezan Shira & Associates´ brochure offers a comprehensive overview of the services provided by the firm. Tied initially to the advent of the internet and the Dot-com boom, online shopping saw companies like Amazon and eBay become well-known billion-dollar names. Stay Ahead of the curve in Emerging Asia. In 2019, B2B e-commerce contributed two-thirds of the total e-commerce transaction value in China. By subscribing, you accept the terms and conditions in our, ©2020 Bangkok Post Public Company Limited. China’s e-commerce market is the largest in the world and already represents more than 40% of the total global e-commerce spending. Investing in the Impending E-commerce Future. PHNOM PENH: The sister of a missing pro-democracy activist presented evidence to a Cambodian court on Tuesday that she said showed her brother was in the capital Phnom Penh at the time of his alleged abduction by unknown gunmen. Fortune Global 500 company Jingdong (JD.com) has continued to grow within China’s e-commerce market with its multiple retail acquisitions, and retail tech and supply chain innovations. North America dominated the market with a revenue share of approximately 30.0% in 2017. Pockets full of disposable income, the latest iPhone model in hand, and ready to purchase on a variety of shopping apps, the potential is large. How much will retail sales in China grow in 2019? Ant has invested in digital payment platforms in Thailand, Indonesia, Myanmar and the Philippines and it has also applied for a digital banking licence in Singapore. Short-video apps have been making forays … Cosmetics were found to be the most popular type of luxury product bought online—with 51 percent of respondents having used the Internet to make purchases in this category. UnionPay is not left behind too much with 23.89%, while Tencent Finance takes a market share of 10.17%. Alternatively, some success may be found through joint operations with a Chinese firm. RELATED: Increasing Smartphone and Tablet Sales Fuel Popularity of Mobile E-Commerce in Asia. I’ll probably be returning to read Wanchalearm's sister presents evidence in Cambodian court, Bureau nets 6,400 illegal entrants since May, Gulf CEO again richest Thai shareholder, worth B115bn, AirAsia ‘quietly optimistic’ about 2021 with focus on Asean. There were some common concerns expressed by digital consumers. Cross-border B2C e-commerce sales amounted to $404 billion in 2018, representing an increase of 7% over 2017. 2) JD.com. This plainly demonstrates the significant sums of money now being spent online by Chinese consumers. eCommerce is the clear growth story. This underlines the importance of facilitating access to online shops for smartphone users. Their overall efficiency are improved, ... Market landscape in China . The Forex Market: A Global Landscape. The rise of e-commerce has been a long time coming, but the market’s progressive size and impact has caught many by surprise. Given all these developments, we can expect a further ramping up of the digital revolution, which has already accelerated as a result of the coronavirus pandemic. Tmall has become so popular that international high fashion brands such as Burberry have established their own shops on the site. Clearly, Thailand needs to adapt quickly if it wishes to hold its own in this hotly contested market. Increasing penetration of internet is bolstering the smartphone using population across the world . While there are plenty of physical shopping options in China’s larger cities, lower-tier cities cater less to international luxury brands. The larger population of Saudi Arabia and the oil industry's early adoption of online B2B sales systems means it dominates the Middle East e-Commerce landscape. Our subscription service offers regular regulatory updates, Such disruptions have resulted in delivery delays or outright cancellation of orders. China’s economic rise coinciding with the dawn of the information age means its consumers are web savvy and are thus increasingly going online to make many of their purchases. The bases have helped facilitate the establishment or expansion of 58,000 e-commerce and related companies that employ about 1.2 million people. 1 FUNG BUSINESS INTELLIGENCE CENTRE CHINA’S E-COMMERCE PLAYERS AND RETAILERS ARE TAPPING INTO THE BURGEONING INTERNET FINANCE SECTOR AUGUST 2015 China’s E-Commerce Players and Retailers are Tapping into the Burgeoning Internet Finance Sector Internet finance is a hot topic in China. However, women buy more luxury items online and spend more overall than men. Under the terms of the deal, Alibaba Group will assist Shoprunner’s expansion into China in exchange for allowing Alibaba to supply U.S. goods to Chinese consumers hungry for foreign luxury items. B2C e-commerce was valued at $4.4 trillion, up by 16% from 2017. Even with the Covid boost they are only projected to increase to 4-5% this year. Final consumption expenditures—spending on goods and services to … To date, several foreign firms attempting to break into this lucrative market have met with failure: eBay has withdrawn from China, while Wal-Mart and Best Buy are still struggling to compete with local firms. But the landscape isn’t without its challenges, either. 1) E-commerce shopping festivals. Furthermore, Chinese consumer trust in online shops is stronger than previously imagined and people are more willing to buy luxury items online. Digital consumers were also concerned about not being able to test out products before buying them (70 percent) and sizing (55 percent). eCommerce is the clear growth story. Across the forex market, 170 major, minor, and exotic currency pairs can be traded as contracts for difference (CFDs). The Ministry of Commerce started selecting demonstration bases in 2012 with the aim to digitise traditional industries, incubate small and medium e-commerce companies and encourage the adoption of new technology. The start of a new year tends to be a hectic time for foreign companies in China. Vogue Business in China just launched its 2020 New Fashion Capital Index Report, which measures the power and capital of 12 representative municipalities, provincial capitals, or major cities in China. It is estimated that e-commerce in China will be worth US$540 billion by 2015, and by 2020 worth more than e-commerce in the U.S., the UK, Japan, Germany and France combined. Based on data of Q4, 2017, Alipay keeps leading the market with a market share of 24.50%. Fifty-one percent of those surveyed felt that when buying online they felt more assured of the item’s country of origin. Spot on with this write-up, I truly believe that this amazing site needs a CPG, FMCG & Retail 11-01-2017. In light of this demand, the internet has allowed many retailers to offer goods to consumers in lower-tier cities and further afield without the need and cost of setting up a physical outlet. We recommend strategies that incorporate the following five priorities. • E-commerce for goods and services trade has been adversely impacted by the same factors that have caused disruption in supply and demand overall. In addition to analyzing macro-level economic and development indicators that signal the potential for region-wide growth, we explore several rapidly growing markets in-depth while highlighting opportunities for investment in each. Convenience and a greater range of available products were also found to be important consumer motivators. Five key trends driving China’s e-commerce market. Your email address will not be published. A Look at the Evolving E-Commerce Landscape. Post was not sent - check your email addresses! B2C e-commerce was valued at $4.4 trillion, up by 16% from 2017. Investing in the Impending E-commerce Future. Cross-border B2C e-commerce sales amounted to $404 billion in 2018, representing an increase of 7% over 2017. There’s no doubt that China’s e-commerce market is on an overall upward trajectory. The Chinese government has granted over 200 licenses allowing firms to set up electronic payment systems but the market remains dominated by four main players — AliPay, TenPay, Union Pay and 99bill combined account for 85.5 percent of the electronic wallet market in China. A CFD enables you to speculate on whether the price of an asset will rise or fall. Technavio's report, Business-to-Consumer E-commerce Market in China 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. A key factor behind China's e-commerce boom is the extensive digital payment infrastructure led by Alibaba's Ant and Tencent's WeChat. social commerce model, and a trusted digital payments infrastructure. The survey also addressed buying trends such as which categories of products consumers tend to buy online. According to PwC’s Economic Quarterly Q1 2017, the national online retail sales of goods and services reached 1.40 trillion yuan in the first quarter, 32.1% higher than a year ago. This is linked with the number of people connected to the Internet in China, be it via computers or smartphones – there are over 600 million internet users and over 500 million mobile internet users in the country. E-commerce is gaining market share in China at a time when overall retail spending is growing and contributing the bulk of gross domestic product (GDP) growth. The year 2020 challenged businesses around the world with the early breakout of the pandemic. The United States continued to dominate the overall e-commerce market (Table 1). Tied initially to the advent of the internet and the Dot-com boom, online shopping saw companies like Amazon and eBay become well-known billion-dollar names. This year, China’s Singles’ day set a new record with US$30.8 and 27% growth when compared to last year. After 5 years of explosive growth, the e-commerce market in China continues its trajectory into 2019. China's government is preparing to accelerate the growth of its already rapidly expanding e-commerce sector by establishing 15 new national e-commerce demonstration bases. including the most recent legal, tax and accounting changes that affect your business. Article. All the successful ecommerce website in China are host in China with ICP.A website hosted in China is better as the Chinese search engines is Baidu . Joyo was rebranded to Amazon China in … The 15 new bases will take the total to 127 nationwide, mostly concentrated in eastern and southeastern China, where e-commerce is more firmly established. Final consumption expenditures—spending on goods and services to … It is no surprise that China is the most dynamic e-commerce market in the world today. The growth in the number of online shoppers—and the sums of money consumers are spending via digital channels—is astounding. The Chinese government has a target to connect 1.2 billion people (85 percent of the population) to 3G or 4G mobile internet by 2020. However, the UAE is … The cabinet on Tuesday resolved to offer long-stay special tourist visas (STV) to visitors from every country instead of only those with low risks of the novel coronavirus. The nature of this ... Dezan Shira & Associates helps In 2015, the market leader is Saudi Arabia, with sales totalling USD6.3bn; this will rise to USD7.3bn in 2016. Digital commerce players continue to innovate and recalibrate. If we break this down into the regions, the Asia Pacific market, dominated by China, will become the largest e-commerce cross-border region for both imports and exports. DUBAI, U.A.E, Sept. 7, 2020 /PRNewswire/ -- According to a new market study by Future Market Insights (FMI), the global plywood market is forecasted to witness substantial growth in … Dublin, Nov. 06, 2020 (GLOBE NEWSWIRE) -- The "Global e-Commerce Technology Market 2020-2024" report has been added to ResearchAndMarkets.com's offering. Home to the world’s largest ecommerce market, two of the world’s largest online retailers (JD.com and Alibaba) and more than 900 million internet users, marketing and selling in China is a tantalising prospect for any western ecommerce company. Overall, the survey found that consumers in China are more partial to shopping online, especially through their smartphones. China is also the largest e-commerce market in the world by value of … The landscape of online payment methods in China has changed dramatically since we updated the article last time. In this issue of China Briefing Magazine, we cover the current laws pertinent to the e-commerce industry in China, as well as introduce the steps involved in setting up an online shop in the country in order to help provide foreign investors with an overview of the e-commerce landscape in China. All age groups displayed high confidence in online platforms.The survey found that as people get older their average per-item online spending increases. Notify me of follow-up comments by email. One of the most striking pieces of information discovered by the report was that the last item purchased online by respondents cost on average RMB 1,515 (US$243). Its Tmall site guarantees genuine products and gives users a more direct route to connect with sellers. Suwatchai Songwanich. businesses establish, maintain, There’s no doubt that China’s e-commerce market is on an overall upward trajectory. The global e-commerce market size was valued at USD 9.09 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. 1. For more columns in this series please visit www.bangkokbank.com. In line with this, Nielsen has identified five key trends that we believe are driving the development of the market, and which will be essential for businesses to leverage to ensure success in 2018. For nearly a decade, China's B2B market was ruled by the e-commerce … Key Takeaways:. The internet serves as an information source for digital consumers who regularly log on to review sites and use social media to make consumption choices. The United States continued to dominate the overall e-commerce market (Table 1). Social commerce expected to grow faster than overall e-commerce. China’s e-commerce market is the largest in the world and already represents more than 40% of the total global e-commerce spending. This is linked with the number of people connected to the Internet in China, be it via computers or smartphones – there are over 600 … Our latest infographic on China ecommerce landscape presents key facts on the current state and growth potential of this fastest growing sector of Chinese economy. After 5 years of explosive growth, the e-commerce market in China continues its trajectory into 2019. What was the global e-commerce market size in 2019? And in terms of the overall future of e-commerce, Wang said Alibaba believes that new retail will be experience-focused, such as its Alibaba pop-up smart store. Total retail sales of consumer goods in China reached $5.61 trillion (38.10 trillion yuan) in 2018, up 9.0% over 2017, the Chinese government data says. You will get the updates within 24 hours. In 2019, B2B e-commerce contributed two-thirds of the total e-commerce transaction value in China. With faster mobile internet speeds and websites increasingly catering to mobile users, it is becoming more and more convenient to use smartphones wherever and whenever one desires. The China E Commerce Landscape With three times the size of the US market, the e commerce sector in China is the largest in the world. Reliability of sellers was also a worry: forty-eight percent reported concerns that the product shown online would differ from that delivered, 41 percent doubted online sellers’ guarantee of after-sales services, and 37 percent raised concerns about complicated return procedures. Retail sales in China will grow 3.5% to $5.291 trillion this year. SHANGHAI – China is currently experiencing huge growth in e-commerce. Amazon entered the Chinese market in 2004 through the acquisition of Joyo, a domestic online shopping market. By comparison, e-commerce retail sales in Thailand made up only 3% of total retail sales. China's growing domination of the global e-commerce market is set to continue Image: eMarketer/The Economist 1) Cross-border e-commerce At the 2018 World Economic Forum Annual Meeting in Davos, Jack Ma, the founder and executive chairman of Alibaba Group, argued: "No-one can stop … Country ’ s Newest Frontier for Foreign companies in China traded as contracts for difference CFDs! Site guarantees genuine products and gives users a more direct route to connect with.! Article Qingdao ’ s country of origin being spent online by Chinese consumers contributing! Those surveyed felt that when buying online they overall landscape of china's e commerce market more assured of the incremental trade volume over the period 2014... Of Mobile e-commerce in overall landscape of china's e commerce market ago when around 70 percent of payments are now,! 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