China’s e-commerce market racked up 1.3 trillion RMB ($190 billion USD) worth of transactions in 2012, according to a report by the China Internet Network Information Centre (CINIC) a massive increase of 66.5% over 2011's total.
Last year, 242 million Internet users purchased goods online, and e-commerce transactions accounted for 6.1% of total retail sales of consumer goods.
Back in November we reported that the CINIC had revealed that mobile web usage in China has now overtaken PC web usage, so it’s not surprising that this growth in e-commerce was driven in large part by mobile users.
Mobile users are becoming powerful consumers who are willing to spend on their mobiles. However retailers and advertisers must understand these mobile consumers if they are to succeed in this competitive Chinese marketplace.
During the last half of 2012:
What is even more impressive is that there is still room for China’s economy to grow. The Chinese e-commerce market is currently dominated by Alibaba, which last year handled 1.1 trillion yuan ($170 billion USD) in sales through two of its portals, Taobao and Tmall, and is on its way to becoming the first online retail company in the world to handle $1 trillion a year in transactions.
Taobao is a C2C marketplace with more than 800 million product listings and 500 million registered users, according to Alibaba. B2C platform Tmall counts major international brands like Microsoft, Nike and Unilever among its 50,000 merchants.
For the full article visit TechCrunch