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Published: Tuesday February 10, 2015 MYT 6:00:00 AM
Updated: Monday February 9, 2015 MYT 5:27:04 PM
Chinese online spending predicted to hit US$1tril by 2019
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UPWARD TREND: Spending via mobile is expected to continue to grow in China. — AFP/Relaxnews
Online retail spending in China will exceed a staggering US$1tril (RM3.56tril) by 2019, according to new research.
The China Online Retail Forecast 2014 - 2019 by Forrester Research estimates that Chinese customers are switching from online to mobile shopping.
Spending via mobile is expected to grow at 44.2% compound annual growth rate (CAGR), compared to online sales, which are estimated to grow at 19.9% CAGR.
According to the report, those in lower-tier Chinese cities are increasingly using their smartphones as their primary means of network access and for online shopping. Major web players such as Tmall and JD.com will focus on getting a grip on dominating the mCommerce market over the next few years.
Meanwhile online shopping will be boosted by the availability of more and more products such as fresh food, imported goods, and automobiles. — AFP/Relaxnews
now thats big
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