In Q3 2014, total transaction value of China e-commerce market was RMB3.19 trillion ($0.51 trillion) with increase of 13.1% quarter on quarter and 27.3% year on year.
B2B e-commerce market is the major part in China e-commerce market. The transaction value of small and medium enterprises in B2B e-commerce accounted for 46.3% with a decrease QoQ while online shopping transaction value as a percentage of total e-commerce increased to 30% in Q3 2014 from 22.1% according to data from iResearch.
SMEs in B2B e-commerce market as well as online travel market had growth rate of over 10% in transaction value year on year. Online shopping’s transaction value had increase of 49.8% QoQ in Q3 2014.
Morgan Stanley estimates that China’s e-commerce industry will account for 18% of the total retail sales in 2018, up from 8% in 2013.
Here are some highlights in China E-commerce market in Q3 2014:
- Influenced by downturn of China economy in Q3, China B2B e-commerce market had slow growth as well.
- With the popularity of online shopping in China, e-commerce enterprises are not only making efforts on optimizing its operation in online shopping market but also planning to extend development in tier-3 & tier-4 cities or even in rural China.
- Chinese travelers are enthusiastic about outbound tourism nowadays. China e-commerce enterprises compete with online travel agencies.