China has become the world’s largest e-commerce market with US$458 billion in sales in 2014 according to Kantar Retail. The United States ranked second with US$297 billion sales. In 2014, Chinese e-commerce contributed to 19.4% of GDP growth and 33.5% of total retail growth. By 2020, the number of Chinese internet users is expected to reach 80% of the total population, and 70% of them would shop online.
According to prediction by Kantar Retail, by 2020, China’s online shopping users would reach 891 million, 2.1 times that of 2015. China’s e-commerce market would reach 13.91 trillion yuan, 3.4 times that of 2015, accounting for 26.7% of total retail sales.
Also read: China E-Payment Insights 2015