China’s online retail market reached 945.1 billion yuan (US$143.5 billion) with a growth rate of 45% in Q3 2015 according to Analysys. The growth rate was lower compared with the previous quarters in 2015.
The growth rate of China’s online retail market slowed down in 2015. The market tended to mature. However, total online retail sales only accounted for 12.3% of total retail sales. The online market still faced enormous development opportunities.
More shoppers were active on the mobile end than PC in Q3 2015. Mobile online sales reached 524.3 billion yuan (US$79.6 billion) which surpassed PC as the major online shopping channel as of Q3 2015.
The business pattern of China’s B2C market remains the same in Q3 2015. Tmall and Jingdong dominated the market both in market and business innovative capacity. E-commerce suppliers were trying to win subdivision market to seek a breakthrough.
China’s online retail market has been stabilized since 2014. Three business formats have shaped, online fair, online department store, and online discount retailer. Tmall, Jingdong, and Vipshop were representative companies of each format.
Tmall was the earliest online fair platform in China which has built a relatively perfect system for followers. Tmall has been devoted to building a high-quality shopping platform by strict selection of merchants and to provide consumers a safe and efficient platform. Total online transaction values on Tmall reached 91.2 billion yuan (US$14.25 million) on Double 11 in 2015.
Jingdong started as an online magneto-optical store, but soon diversified, selling electronics, mobile phones, computers, etc. Self-built delivery stations and pick-up stations were the core of Jingdong’s diversified services.
Vipshop was a leading online discount retailer for brands in China. The Company offered high-quality and popular branded products to consumers throughout China at a significant discount from retail prices targeting at women buyers. Vipshop reported net revenues up by 63% to 8.67 billion yuan (US$1.36 billion) in Q3 2015.
Also read: China Retail V.S. Online Shopping 2015