Revenue for the Chinese e-commerce market in 2011 is expected to total some 800 billion yuan (£80 billion), according to Chinadaily.com. Author: Deborah Bates
Revenue for the Chinese e-commerce market in 2011 is expected to total some 800 billion yuan (£80 billion), according to Chinadaily.com.
That’s according to predictions from the chairman of the Chinese Federation of Logistics and Purchasing, He Liming – who also revealed that there were approximately 3.65 billion packages and express items sent in China last year.
The total figure represents almost double that seen back in 2010, wherein 450 billion yuan was spent via online payment services. Reports have suggested that clothing was a key driver for this spend, in addition to household appliances, insurance, books and audio-visual items.
In fact, the encouraging results have prompted the Chinese Ministry of Commerce to make promoting and developing online shopping a top priority for the coming year.
One Chinese writer, Chen Jing, gave his thoughts on ce.cn on why the e-commerce market has fared so well in recent months. He suggested that “online shopping has evolved from a novelty into the norm” – adding that “conventional enterprises” are making “more efforts” to expand their product offering, which may have helped.
Jing also attributed the rise of mobile e-commerce within the country and the “maturing industrial environment” as potential factors behind the industry’s growth.
Although predictions for 2012 haven’t yet been made, if 2011’s figures are anything to go by, it could be that the industry continues to grow well into the year.