E-commerce sales in China increased by 66 per cent in 2011, according to a recent report. Author: Richard Towey
E-commerce sales in China increased by 66 per cent in 2011, according to a recent report.
Improved website hosting, better service from parcel companies and the convenience of making an online payment is thought to have significantly aided e-commerce growth across continents. The new figures indicate that China is now waking up to its potential.
The report, conducted by online retailer Alibaba and research firm IDC, found the world’s most populous nation made 780 billion yuan (124 billion U.S dollars) in 2011.
In addition to this, according to warc.com, the country’s largest online trade platform Taobao created more than 2.7 million jobs throughout the year.
The report also states that the web now delivers three per cent of China’s total retail sales; despite almost two-thirds of the country remaining offline. However, data provided by the China Internet Network Centers still listed the total number of online users at a staggering 505 million in a rapidly-growing economy.
Last week, Walmart announced that it had upped its investment in Chinese e-commerce giants Yihaodian, sellers of products ranging from clothes to consumer electronics; bringing its total stake in the company up to 51 per cent
Talking to techcrunch.com, Neil Ashe, president and CEO of Walmart Global E-commerce, said: “We are on track to create the next generation of Ecommerce, offering the latest in online innovations to give our customers a unique shopping experience.”
The investment is subject to government regulatory approval.