China dethrones U.S. for e -commerce
ONLINE TRADING - In booming , the Chinese e -commerce market is expected to supplant this year the United States first in the world , according to a study released this week by the consulting firm Bain & Company .
With 212.4 billion dollars ( 197 billion francs ) in revenue in 2012, the Chinese online commerce was still well away from the U.S. market ( 228.7 billion dollars, 212 billion francs). But this situation could be reversed this year , according to the latest study published this week by the consulting firm Bain & Company .
An inevitable given the trend initiated in 2009 issue: over the last four years, the sector grew by 71 % on average, while growth was limited to 13 % in the United States.
Half of online spending in 2023
At this rate, the Chinese market , led by leaders such as Alibaba Group or 360buy Jingdong could reach 3.3 trillion yuan (501 billion) in 2015. And 2023 , Chinese households could spend half of their consumption budget in e -commerce , while this proportion is only 6% today.
A change to be linked with the increasing household access to the Internet in the country : more than 700 million Chinese have access in 2013 , more than 600 million have a smartphone or tablet.
The development of e-commerce is not new and a flowering of new commercial sites was observed a few months ago already , as explained in this video report (in English) .
Phenomenal growth companies
Major Chinese groups have understood this trend and some have been able to enjoy. In the first six months of 2013 , Haier Electronics Group has seen its online sales grow by 500% : from 106 to 633 million yuan (16 to 96 million francs) , is now 2% of its sales business .
For its part, Suning Trade Group has seen , over the same period , its sales increase by 101% and reach 10.6 billion yuan (1.6 billion) in the first half of 2013.
E-commerce is also encouraged by the low margins in the traditional retail : the rising costs (wages and rising real estate prices ) forcing companies to focus more on the web.
source: marketingtochina.com/chinas-e-commerce-surges-in-h1
http://economictimes.indiatimes.com/features/brand-equity/
http://www.linkedin.com/company/1575558?trk=tyah
