The Internet as China’s Consumption Booster
China is well on its way to becoming the world’s Number One online retail market. The e-commerce sector has seen a 30% average annual growth since 2006, and the total value of e-commerce transactions was estimated at about US$ 1.5 trillion. More importantly, the rise of online shopping is generating new and more sophisticated demand, especially in third and fourth tier cities. At the same time, China is also experiencing fierce competition among companies in the e-commerce sector for greater market share.
Joe Nguyen shares key data and insights on the Internet, e-commerce and consumers in China, as well as what companies need to understand when trying to leverage the huge potential of the Internet in the market.