China's E-commerce market is expected to surpass the U.S. in the world's first

Source: Internet
Author: User
Keywords China e-commerce this year Bane
Tags access access to the internet accounting alibaba business change company internet

Sales of China's E-commerce market are expected to overtake the US in the world this year, accounting for half of China's total retail sales in ten years, according to a report released today by management consultancy Bain.

Today, nearly half of China's 1.3 billion people have access to the Internet, and nearly 80% of those netizens have smartphones or tablets, and shopping habits change.

The report shows that from 2009 to 2012, the average growth rate of China's E-commerce market was 71%, while the US was 13%. 2015, the total size of China's e-commerce market is expected to reach 3.3 trillion yuan (539.07 billion U.S. dollars).

The report said China's total consumer net purchases in 2012 amounted to $212.4 billion trillion, compared with 228.7 billion U.S. dollars. Although the company has long been dominated by Alibaba and Beijing-east, China's e-commerce market is becoming increasingly competitive. In the face of low price competition, Chinese companies that set up physical retail outlets have to readjust their sales strategies.

"This is a huge change," said Serge Hoffmann, co-author of the report, Sechi Hoffman, a partner at Bain. It means that you have to net whether you like it or not. Whether online businesses or offline businesses, must have a reliable shop. ”

Although revenues still account for only a fraction of the revenue, network sales are growing at a much higher rate than offline sales.

Haier opened a shop in the sky, the first half of 2013 the company's electricity business revenue from the same period last year 106 million U.S. dollars grew nearly 500%, reached 633 million yuan, accounting for the total revenue of 2%. The company's total revenue has increased by 10.2%. In the first half of this year, Suning's electric business grew to 10.6 billion yuan, an increase of 101%.

Nicolas Stachom Wilson Nicholas Studholme-wilson, senior analyst at Sun Hung Kai Financial Group, said retail companies could soon have to change their minds, close physical stores, lower overhead costs, and hope that customers turn to their online stores.

Alibaba estimates that e-commerce accounts for all of China's retail spending in 10 years, from 6% now to half.

Stachom Wilson said: "The popularity of smart devices means that everyone has been online, which is one of the important drivers." ”

However, logistics to the development of E-commerce has become a huge obstacle. Alibaba is working with some Chinese logistics companies to improve the nation's infrastructure and distribution network.

Gome is changing its retail strategy to serve a new wave of online customers. Now the company's network revenue accounted for the total revenue of 27 billion yuan 5% to 6%. A Gome spokeswoman said the company closed 35 stores in the first half of the year. In order to adapt to the fast-changing shopping habits of Chinese consumers, the company now plans to continue to abandon its entity business.

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