Alibaba’s Tmall Global now features goods from 14,500 overseas brands, 80% of them selling in China for the first time.
E-commerce will account for 9.9% of retail purchases by 2017.
U.S. consumers spent $317.9 billion on online retail and travel purchases last year, which was 7.4% of total retail spending, an increase from 6.8% in 2011, according to the "5th Annual Online Retail Payments Forecast 2012-2017," by financial services research and consulting firm Javelin Strategy & Research. By 2017 that percentage will hit 9.9% as consumers spend $458.0 billion online, Javelin predicts. Despite the gains, 12% of shoppers still don't shop online. The single biggest reason for not shopping online, cited by 32% of those who don't, is that they want to purchase in person so they can see merchandise and avoid returns. But many others are concerned about security. For instance, 26% said they are concerned that personal information will be used fraudulently.