I have just got back from a fascinating whistle stop trip to China, taking in Beijing and Shanghai, before heading down to the SAR of Hong Kong.
Each time I’ve visited China, I’m blown away by the rate of growth, both in what you can see, and the economic progress that seemingly happens below the surface.
As I briefly walked through the Forbidden City between meetings with our local Head of Country, I was reminded that while China keeps driving forward as a technological powerhouse, that it remains deeply rooted in its traditions.
Chinese New Year 2019 officially begins on Tuesday 5th February, and, according to the Chinese, is all about "sweeping clean" and inviting new opportunities. When it comes to ecommerce in China, this couldn’t be more evident.
While I was there, I made some staggering discoveries...
eCommerce in China
- eCommerce sales are set to surpass $1.2 trillion in 2019
- 75% of eCommerce purchases will be via mobile this year
- eCommerce will account for over 40% of retail purchases in China by 2021
- 802 million citizens online, of which 788 million are accessing the internet via a mobile device
- After Amazon, China's JD.com and Alibaba take 2nd and 3rd spot in the world’s largest eCommerce companies list
With such a strong ecommerce presence from some of the biggest companies in the world, it seems that Chinese consumers are developing a keen preference for shopping online - particularly via mobile, and in return are demanding a great online experience, with a need for online stores to be quick, easy and convenient. Ensuring that online stores meet these expectations will be retailers’ biggest challenge if they want to succeed in China and beyond.
It will be a very happy Chinese New Year indeed for tech companies that embrace this ecommerce opportunity in 2019.