The Chinese online retail market will be the biggest in the world by 2015, research has revealed.
With further growth expected after this date. In 2010 457m people used the Internet in China and 145m of which had engaged with ecommerce websites.
By 2015 the amount of people accessing the web will hit 703m, with 329m making purchases online.
In contrast the USA web audience is predicted to grow from 170m in 2010 to 199m in 2015.
Looking at the value of the Chinese retail sector, its expected that it will be worth $315bn by 2015, more than the US. And online sales are expected to deliver 7.4% of this, compared with 3.3% at present.
China will get a massive boost as shoppers are expected to double their expenditure – to reach around $940. Getting nearer the US average of $1,000.
The report also found that over 40% of Chinese web users had either read or posted a review on a site. Well above the international average.
Overall 46% of shoppers said that shopping online allowed them to find better deals, whilst 21% said it was a ‘habit’.
The report also found that many online shoppers wanted to discover what was ‘trendy’ (43%), and almost half said they ‘loved’ ecommerce. And over a third though shopping online was ‘entertaining’.