About 53.6% of Chinese outbound tourists take shopping as primary objectives of free and easy trips in 2015, according to a research of Mafengwo and TouTiao. At least half of their travel budget will be spent on shopping.
China to Become World’s Largest Retail Market by 2018
Although China retail’s growth rate has fallen from a peak of 15.6% in 2009 and is slowing, China remains irresistible to global retail chains. China is expected to have average annual retail volume growth of 8.7% in 2015 & 2016. By 2018, it will be the world’s biggest retail market in the world.
Apparel: Most Popular Category Among China Online Shoppers
Apparel is the most popular product category for China online shoppers according to McKinsey. And, the most frequent online purchases are packaged and fresh food.
China Top 10 Food & Beverage Brands by Online Ad Spend in Oct 2014
In October 2014, total online advertising spend of food and beverage brands exceeded RMB270 million (US$43.98 million) in China.
China GPD 7.3% in Q3 2014, Slowest in 5 Years
According to National Bureau of Statistics of China, the gross domestic product (GDP) of China in the first three quarters of 2014 was RMB 41,990.8 billion (USD 6,858.5 billion), a year-on-year increase of 7.4%.
China to Disallow Minimum Spend Rule in Restaurants
China forbids catering operators to set minimum consumption according to Catering Industry Operation & Management Regulations (Trial) released by China Ministry of Commerce.
China Online Food Ordering Market in 2014
In 2013, total transaction value of China online food ordering market exceeded RMB50.26 billion ($8.18 billion) and it is estimated to reach RMB85.04 billion ($13.85 billion) in 2014 according to data from iiMedia Research.
Taobao to Sell 200 Varieties, 3,000 Tons of Fresh Food
Taobao is promoting the direct sales of fresh agricultural products to Chinese consumers throughout the country on its food vertical chi.taobao.com (chi: eat).
Chinese Consumers STRONG Intention for Online Purchase with Higher Buying Rates Than Browsing
For 18 out of the 22 categories, China sees the highest percentage of respondents who are willing to buy online compared with the remaining 59 countries and regions covered in a survey conducted by Nielsen. It also found out that China sees the highest intent for both online-shopping and online-purchase for categories including clothing, cosmetics, personal care, […]
Amazon Investing USD 20M in China’s Online Food Retailer Yummy77.com
Amazon announced its investment of USD 20 million in China’s online food retailer Yummy77.com. Amazone entered Chinese market ten years ago with the acquisition of Joyo.