China’s third party online payment continues to maintain strong growth in 2011 with an estimated total transaction exceeding 2 trillion yuan (2,203.8 billion yuan or USD 349 billion), up 118%.
Understanding China’s E-commerce Market
Boston Consulting Group shared research findings this week predicting that China online shopping, will see exponential growth through 2015, with spending that could make China’s e-commerce market worth more than RMB 2 trillion and possibly surpass the size of the U.S. market. Here is a summary of some findings of BCG survey: Less than 10 […]
A Record Single-day Turnover of 3.36 Billion Yuan Taobao Mall
November 11 (11-11) is Singles Day in China and year 2011 makes this date more special with six “1”s. And, this date is even a bigger date for China’s online retailers. Let’s take a look at how crazy China online shoppers can be on Nov 11 2011 on Taobao Mall (all participating merchants offered 50% […]