Online Retailing - China - June 2014
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“China’s online retail market has achieved phenomenal growth from nothing in only a few years, and many sectors continue to pursue very rapid growth. There continues to be a strong shift away from the dominance of C2C towards B2C vendors, but many consumers also remain stakeholders in the online retail industry. Mobile online retail has also emerged suddenly, from nothing, to become almost a natural part of people’s everyday lives."
– Matthew Crabbe, Director of Research, Asia-Pacific
The impact on bricks-and-mortar retailers has been profound, having been forced to fight competitors both in the malls and via modems. Yet, online has also proven to be an opportunity for those traditional retailers that have embraced it, and meanwhile many of the online-only retailers are still struggling to break into profit.
Because online shopping, including via mobile devices, has been accepted by people as an everyday part of life now, it is creating new opportunities for retailers (online-only and bricks-and-mortar) to achieve even greater penetration into lower tier cities.
Because so many online retailers are still not making profits, they now need to begin providing more value-added benefits. Many are seeking cooperation opportunities, and there is a growing trend towards more online-to-offline coordination between online-only and bricks-and-mortar retailers.
This market covers media, fashion, computer-related products, electrical and electronic equipment, home and garden products, groceries and other products bought online via computer or mobile phone by consumers in the People’s Republic of China. It excludes second-hand products, including those bought on eBay, and products bought by mail order/telephone orders. Market value comprises online sales (including sales tax) through all types of retailers.
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