China—the World’s Largest E-Commerce Market—Extended Its Lead in 2015
Huge opportunities await Western e-retailers that understand how to sell online in China.
Despite a 2015 GDP slowdown to 6.9%, Chinese consumers purchased $589.61 billion (3.977 trillion yuan) worth of goods online in 2015, an increase of 33.3% from a year earlier, according to the National Bureau of Statistics in China. By comparison, U.S. online retail sales grew roughly 15% per year from 2011 to 2015, according to the U.S. Commerce Department. The web merchants ranked in the 2016 China 500 grew their 2015 web sales by $198.30 billion, up 59.6% from $124.22 billion, accounting for 33.6% of total web sales. The 102 retailers and brands based outside of China—including 52 from the U.S.—shared in that growth: they collectively grew 2015 web sales by 24.0% to $21.31 billion. The strong demand among middle-class Chinese for Western goods and higher smartphone conversion rates are driving huge growth. Is your business prepared? With this essential global e-commerce intelligence, it will be.
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