CHINA: E-COMMERCE GROWTH FIGURES

China has been the forerunner in e-commerce over the past decade. So, the emergence of China’s e-commerce market inaugurated a new era in the country’s economy. Centre O is going to illustrate the online growth figures.

1. Total E-Commerce Market Size

According to data from 2019 China Internet Network Information centre, the total e-commerce market in China is around US$1.53 trillion. In 2020, the total online sales is up to USD1.69, representing a 10% growth in a year.

2. Market Share by Platforms

China has 3-leading online platform as below:

Alibaba’s Tmall: Tmall, Alibaba’s business-to-consumer (B2C) platform, holds the largest market share in China’s e-commerce market, with a share of around 53.3% in 2020.

JD.com: JD.com, another major e-commerce platform, accounts for approximately 16.8% of the market share.

Pinduoduo: Pinduoduo, a rapidly growing social e-commerce platform, has also gained significant market share, capturing around 11.6% of the market in 2020.

3. Mobile Commerce (M-commerce) Growth

The growth rate of mobile commerce is rising too. M-commerce are including the use of mobile transactions and mobile payment.

Mobile Transactions: Mobile commerce continues to drive growth in China’s e-commerce sector, with mobile transactions accounting for over 70% of total online retail sales.

Mobile Payment: Mobile payment methods like Alipay and WeChat Pay are widely used, contributing to the popularity and convenience of mobile shopping.

4. Cross-Border E-commerce

The e-commerce is not only growing domestically, but also experiencing a rapid growth in cross-border section. As there is an increase in demand for imported goods and improved logistics system. Then the market size of cross-border e-commerce is around US$243 billion in 2020.

5. Rural E-commerce Development

Online retail sales in rural areas amount is up to US$376 in 2020. As the Government initiative like the “Rural Revitalization Strategy” and “Internet Plus Agriculture” have boosted 3-commerence development.  

6. Live Streaming E-commerce

Live streaming e-commerce has emerged as a popular and effective sales channel in China. The sales volume in 2020 is around US$144 billion.

7. Future Growth Projections:

China e-commerce is expected to continue expanding. Because of the increasing internet penetration, rising disposable income and consumer preference for online shopping. The projections estimate that China’s e-commerce will up to US$2.88 trillion by 2025.

As a result of the fast-developing digitalization within all aspects of modern life. We foresee a positive growth to e-commerce in China.

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