Top Trends for B2C E-commerce Market in China
A high degree of internet penetration and an
increase in the number of smartphone users worldwide have led to the evolution
of the shopping habits and shopping patterns of the global customer.
In china, very exciting to observe
that, the increase in Internet and smartphone penetration, free shipping and
unproblematic return policies, easy payment options, and growing seasonal sales
are the top factors expected to drive the business-to-consumer e-commerce market.
The rise in
the number of smartphone users has significantly contributed
to the online retail market's growth. As of 2016, nearly 51%-53% of the mobile
phone holders in China used smartphones.
This applies to e-commerce customers
in China as well. The growing demand for e-commerce is coupled with an
equally increasing popularity of m-commerce.
Omni-channel
retailing is a key trend that has recently been incorporated by domestic and
international physical retailers across different product categories.
Omnichannel retailing is an evolving concept in the B2C e-commerce market in
China. Multiple retailers are investing in omnichannel retailing through their
own web shopping portals.
Social
networks occupy a significant space in the B2C e-commerce market in China. On a
daily basis, users spend about 1.95-2.15 hours on social media in China. The major social networking websites in
China include douban, Renren, WEIBO, and Tencent's Qzone. As of 2016, China
registered around 689 million social media users; the country is expected to
incline by a CAGR close to 4.60% by 2021.
Retailers in
the B2C e-commerce market in China use social networking
websites to gain marketing and sales leverage. The optimum utilization of
social media for marketing plays a significant role in creating new products
and consumer experiences, understanding changes in fashion trends and
interests, tracking brand and product reviews, and launching several social
media marketing campaigns.
The key vendors are as follows:
Comments