As part of the new partnership, Magento will provide Razorfish in China with market development tools and resources to build Magento Enterprise Edition storefronts for retailers seeking to swiftly capture consumer sales and capitalize on the massive market opportunity.
Digital Dopamine, Razorfish’s 2015 Global Digital Marketing Report, shows that ecommerce is an undeniable powerhouse in Greater China. The vast majority of Chinese consumers would prefer to do all their shopping online. Consumer preference to shop online in China is almost double that of US counterparts. The study shows 82% of Chinese shoppers wish they could make all their purchases online, compared to just 49% of those in the US.
Online shopping in China is growing faster than anyone originally expected. Forrester’s latest online retail forecast for China projects that the nation’s online market (B2C and C2C) will pass $670 billion by 2018.