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Local firms rule the roost in booming Chinese e-commerce market

CHINA | According to a recent eMarketer research paper “China Ecommerce: A Developing Marker Begins to Boom”, 423.4 million Chinese people over the age of 14 will be using the internet to do shopping online at least once a year by 2016.

 

At present China is ranked fourth by e-commerce sales but at current growth rates, the Chinese market will rapidly overtake the Japanese and may replace the UK as number two global e-commerce market as soon as next year.

 

Due to the restricted nature of search engines in the country, many Chinese shoppers use an online retailer such as Taobao to find their products, as search engines are inadequate, This is part of the explanation for why the company accounted for almost 80% of the entire countries e-commerce in 2010 and why it remains hard for foreign companies to get a foothold into the Chinese market against local competitors.

 

Many brands remain unavailable to customers living outside first and second tier cities, meaning that online purchases are often the only way people in these areas can receive these goods. Moreover, the report stresses on the importance of pirated and counterfeited goods.

 

Source Article from http://www.e-commercefacts.com/news/2012/11/local-firms-rule-the-roos/index.xml

 

 

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