China’s online shopping GMV totaled 6.1 trillion yuan (US$953 billion) in 2017, rising 29.6% from a year earlier, showing a pick-up in growth, according to the latest report from iResearch.
China’s B2C online shopping amounted to 3.6 trillion yuan in 2017 with a share of 60% in the overall online shopping market, increased by 4.8 percentage points compared to 2015. The growth rate of B2C online shopping in 2017 was 40.9%, much higher than that of C2C online shopping, which was 15.7%. Thereinto, online retail sales in China’s rural areas approached 1244.88 billion yuan, soaring 39.1% from a year earlier. By the end of 2017, the number of rural online shops reached 9.856 million, up 20.7% over 2016, creating over 28 million jobs.
Related: find out insights on mobile shopping and e-commerce mobile apps in China here.
In future, the share of B2C online shopping market will sustain its continuous growth. As the online shopping market is tapping into its ripe stage, quality of products and service level have become vital factors to influence online shopper’s decision making; moreover, that will become the main driving force of B2C and overall online shopping market’s rapid growth. Featured with large volume, complete category, C2C online shopping meets the needs of the long tail market, seeing its high growth in future.
China’s mobile shopping in 2017 accounts for 81.3% of overall online shopping market, increased by 4.6% compared to 2016. Meanwhile, its sales amounted to 4.9 trillion yuan, an increase of 37.4% year-on-year, rising at a slow pace but still remaining high level.
The GMV of China’s cross-border retail e-commerce reached 105.18 billion yuan( US$16.53 billion), up 28.9% quarter-on-quarter in Q4 2017.
With the growing penetration rate of mobile devices, mobile shopping has become the most popular way of online shopping. The widespread of smartphones, Wi-Fi and fragmented time making online shoppers transferred to the mobile devices.
With the integration of online and offline shopping market, shopping situations become more diversified and fragmented, therefore, mobile devices can empower data to user’s offline shopping, such all-inclusive data can guide enterprises to improve operational efficiency and achieve accurate marketing. As mobile devices have become the core link between online and offline shopping situations, mobile shopping can further develop.
China online retail sales exceeded US$403 bn Jan-Apr 2018, up 32.4% YoY.