Ecommerce in China Grew 21.3% in 2014

china-flag-button-300Ecommerce sales in China hit 12.3 trillion yuan in 2014, up 21.3% from 2013, according to data compiled by iResearch.

Overall, iResearch’s data shows that online shopping increased 48.7% in 2014, and made up 10% of the total retail sales of consumer goods in China, which showed that online shopping became the most powerful engine for the development of ecommerce in China.

China’s ecommerce sales channel is expected to keep stable growth in the next few years and to reach 24.2 trillion yuan in 2018.

According to iResearch, small and medium sized enterprises’ B2B ecommerce made up 50% of the ecommerce market and the whole B2B ecommerce occupied 70% in 2014, which implied that B2B ecommerce was still the principal part of the ecommerce market in China.

According to iResearch, mobile shopping will develop fast and maintain 48% of compound growth rate in the next few years, and will be the key push for the rapid development of online shopping market.

The soaring usage of mobile internet, shift from PC to mobile device of internet users, improved mobile shopping scenarios, ecommerce operators’ rising efforts on mobile business and development of mobile shopping platform all contribute to the surging of mobile shopping in China. Therefore, it is expected that mobile shopping will maintain fast growth in the future years.