The transactions of the online retail market in China totaled US$593.18 bn in H1 2018, representing 22.7% of total retail sales. Meanwhile, the mobile shopping market in China saw US$397.83 trillion transactions. Tmall, Jingdong, and Pinduoduo led the B2C online retail market.
Total transactions of the online retail market in China was 4,081 billion yuan (US$593.18 bn), an increase of 30.1% year-on-year, accounting for 22.7% of the total retail sales of consumer goods.
There are 568.92 million online shoppers in China in H1 2018. The transactions of mobile shopping grew by 22% to 2,737 billion yuan (US$397.83 bn), which was 2,245 billion yuan in H1 2017.
Online retail sales in the rural area totaled 632.28 billion yuan (US$90.91 bn) in H1 2018, a 44% increase year-on-year compared with 440.2 billion yuan in H1 2017.
The gross merchandise volume of the online retail B2C market expected to be 5283.23 billion yuan (US$767.92 bn) by the end of 2018.
Tmall continues to lead the market with a share of 55%, a 5% increase year-on-year. Jingdong (JD.com) took the second position with a share of 25.2%, increased by 0.8% year-on-year. Pindduoduo and Suning took the next two positions with a share of 5.7% and 4.5%, respectively.
Related CIW Dossier: Retail E-Commerce (updated on 2 Oct 2018)