In October 2014, total online advertising spend of food and beverage brands exceeded RMB270 million (US$43.98 million) in China.
According to National Bureau of Statistics of China, the gross domestic product (GDP) of China in the first three quarters of 2014 was RMB 41,990.8 billion (USD 6,858.5 billion), a year-on-year increase of 7.4%.
China forbids catering operators to set minimum consumption according to Catering Industry Operation & Management Regulations (Trial) released by China Ministry of Commerce.
In 2013, total transaction value of China online food ordering market exceeded RMB50.26 billion ($8.18 billion) and it is estimated to reach RMB85.04 billion ($13.85 billion) in 2014 according to data from iiMedia Research.
Taobao is promoting the direct sales of fresh agricultural products to Chinese consumers throughout the country on its food vertical chi.taobao.com (chi: eat).
For 18 out of the 22 categories, China sees the highest percentage of respondents who are willing to buy online compared with the remaining 59 countries and regions covered in a survey conducted by Nielsen. It also found out that China sees the highest intent for both online-shopping and online-purchase for categories including clothing, cosmetics, personal care, […]
Amazon announced its investment of USD 20 million in China’s online food retailer Yummy77.com. Amazone entered Chinese market ten years ago with the acquisition of Joyo.