Chinese Ecommerce Spending More than UK, U.S. Combined

A new report from the Boston Consulting Group found that Chinese ecommerce spending was $750 billion in 2016, more than the U.S. and the UK combined, while it’s growing at 20% per year, twice as fast as those markets.

The report also found China to be way ahead in terms of mobile commerce. Citing research from Criteo, iResearch and eMarketer, BCG estimated m-commerce’s share of total ecommerce in China was 61% in 2016, compared to 39% in the U.S., and is projected to reach 74% in 2020 compared to 46% here.

“Many (Chinese) consumers skipped the PC era entirely, going right to smartphones,” the report stated.

Chinese consumers are also spending more time shopping online, according to BCG, averaging 30 minutes per day on Alibaba’s Taobao, the country’s largest marketplace, nearly three times longer than consumers here spend daily on Amazon.

You can read the entire report here.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.