Beijingers are big spenders online.
For the first nine months of 2013, online retail sales in Beijing reached 63.73 billion yuan ($10.5 billion), which exceeded the 59.68 billion yuan ($9.8 billion) for the entire 2012. Despite being late to e-commerce, Beijing’s online retail sales growth has been explosive.
Furthermore, online sales in Beijing have surpassed the sales of traditional department stores and were more than 10 percent of the city’s total retails sales according to Beijing Electronic Commerce Association secretary general Lin Ya and reported by ChinaTechNews.
Lin said that “online shopping has replaced other industries such as physical shopping malls, automobile sales, and dining to become the most important power to stimulate background consumption in the capital city.” He noted that e-commerce will not replace brick-and-mortar stores, but expect them to coexist well in China and provide huge new business opportunities.
photo credit: jonathan kos-read