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.
Three months after entering into a strategic alliance to expand the breadth and convenience of online shopping options for Chinese consumers, Walmart and JD.com have announced a series of new ways for customers to access high-quality products from around the world. The initiatives include exclusive Sam’s Club store and a Walmart cross-border store on the JD.com platform and two-hour delivery from Walmart stores.
As the number of internet users in China is constantly on the rise, more consumers are looking to Social Media channels as their most trustworthy source of information for purchasing decisions. In the face of this new trend and as part of its mission to support Italian wine producers wishing to expand their share in the Chinese wine market, Vinitaly International carried out a survey aimed at mapping out, for the very first time, the social media preferences of Chinese wine professionals. Here’s a look at some of the findings.
Walmart has entered a joint venture with JD.com that will create a shift in Walmart’s ecommerce strategy in China. The U.S. retail giant has sold its Yihaodian ecommerce marketplace to Chinese marketplace operator JD.com, and plans to retain the Yihaodian direct business and set up a retail presence on JD.com. Here’s what the deal means to both retailers.