Urban multi-channel shoppers and the emerging Chinese middle class are powering China’s e-commerce boom that is expected to rise from CNY 1.84 trillion (US$303.3 billion) to CNY 4 trillion ($652.9 billion) in 2016-2017.
A new study, The State of E-Commerce in China, published by Econsultancy, sheds light on the behavior of these Chinese online shoppers, reports Enterprise Innovation. The consulting firm predicts that multi-channel shoppers will soon make up nearly half of China’s urban consumers.
Monica Savut, Econsultancy’s senior research manager, said, “Taking into consideration that an astounding one in seven Chinese consumers turn to the internet for a purchase every day and more than 60 percent shop weekly, the opportunities for both local and international brands in China are indeed staggering.”
The report did find, however, that multinational corporations have been slow to jump on the multi-channel e-commerce bandwagon. Furthermore, retailers that do want to continue to grow in China need to begin focusing on third and fourth-tier cities in China, such as Changsu, Dandong, Foshan, and Yantai.
“China has a unique landscape which is powered by 302 million online shoppers, where mobile Internet users exceed PC users and where social media usage is one of the key reasons driving ecommerce use in China,” said Burghardt Groeber, Vice President of Greater China, hybris software.
He added, “Its consumers are now more digitally connected, socially networked, and better informed than ever before. They inform themselves, make their own purchases, or get assistance on any channel they choose. As China’s retail world rapidly swings towards multi-channel formats, consumers will expect these interactions to happen seamlessly, with each new interaction personalized in the context of the last one.”
In fact, the Chinese mobile shopping market is expected to reach CNY 1 trillion (US$163.2 billion) by the end of 2017. Therefore, it is a necessity for retailers to offer a seamlessly integrated experience between PC and mobile, online and offline.
image source: flickr/maria elena