Chinese online spending expected to overtake us

Chinese consumers ' online purchases have reached 1.3 trillion yuan, which will overtake the US and are expected to grow by 32% per cent in 2015 to 3.3 trillion yuan, according to a 2013 China e-commerce Market study released by Bain, the world's leading management consulting firm, in Shanghai. Bain Research found that in just two years, China's online shopping spending is about to be higher than the U.S. 50%.

Bain has conducted research on online shoppers from different levels of cities, ages, education levels and income levels to study the relationship between online and offline shopping, and the results show that the boundaries between these two shopping patterns are becoming increasingly blurred for many consumers.

Other important findings of the study include: half of Chinese consumers will browse products and compare prices before shopping, and 2/3 of Chinese consumers surveyed use smartphones to browse or buy products. In the high-income group, this proportion is higher, close to 3/4; more than 60% of shoppers said retailers ' stores would push them to spend more on their physical stores; nearly half of shoppers said low prices were the most important reason they chose to buy online; over the past 3 years, most of the revenue growth in online retailing has come from old customers, But more than half of the new sales will now come from customers, with electricity sales already accounting for 6% of total retail sales, and one or two for cities as high as 9%.

The study also reveals the major changes in the development of E-commerce in China. On this basis, Bain put forward to the whole channel retailer and brand business to adapt to the new environment of the five key factors: early investment, the formation of full-time Electric Corps team, the establishment of world-class web site, professional commodity selection and price management, to create a seamless cross-channel shopping experience.