Despite some forecasts projecting a slowdown in ecommerce in China, a new report from Goldman Sachs sees the world’s largest online market continuing to boom over the next four years. The report pegged Chinese ecommerce sales at $750 billion in 2016 sales, coming from 460 million online shoppers, and projects a CAGR of 23% through 2020 – nearly triple the rate of offline sales. See what categories and companies are leading.
Alibaba Group, an online and mobile marketplace, and New Zealand Trade and Enterprise, the New Zealand Government’s international business development agency, signed a Memorandum of Understanding (MOU) to formalize discussions for strengthening trade between China and New Zealand and support the growth of New Zealand brands in China. See what this means for the marketplace and how it will impact New Zealand and China.
Concerning Alibaba’s global aspirations, the company has struck deals in 2014 with the French and Italian governments aimed at fostering ecommerce growth for merchants from those countries selling on Tmall, including providing them with enrollment support, online marketing and customer service support.