According to a Nielsen study, more than one in two people questioned worldwide (57%) have made a purchase abroad in the last six months.
Developing your ecommerce site internationally is becoming an inevitable way to boost your business. However, before jumping into a foreign market, it is essential to study both the market itself and the country’s culture, in order to provide the most suitable offer.
In honour of the Chinese New Year, which starts on 8th February, we thought we would share China’s current ecommerce trends with you.
CHINA: THE WORLD’S LEADING ECOMMERCE MARKET
The world’s ecommerce leader, ahead of both the States and the United Kingdom, China is now a market to focus on in order to boost your international sales. With more than 300 million online shoppers (almost 50 % of China’s Internet users), it is estimated that in 2020, 70% of Chinese Internet users will make online purchases. The Chinese giant Alibaba, accounting for 80% of online sales, is among the most-used consumer platforms, which also include its main rival, JD.com.
As for payment methods, we see that Chinese cyber-consumers are using more and more digital payment systems, including Alipay, one of Paypal’s competitors, the number 1 Chinese online payment method, to make their purchases online. To date, over 80 % of Chinese online shoppers use Alipay.
Chinese New Year
The Chinese New Year could easily be compared to the European Christmas period, in terms of gift giving and offices closing for employees to travel back to see their families during this period of festivities. As the Chinese New Year approaches, many will make purchases both online and in physical stores, to deliver gifts to those around them. As the most important of the traditional Chinese celebrations, with many taking holiday around the festivities, it benefits numerous venders. This in turn has an impact on the entire global economy.
The Chinese New Year impacts international tourism and can also stimulate the consumption of luxury goods. Many Chinese families go on holiday abroad and usually they come back loaded with small, expensive luxury gifts for their friends.
Moreover, according to an Ipsos survey conducted in 2015, online has become Chinese consumers’ primary purchase channel, with 73% of those questioned were ready to shop for their New Year’s gifts online this year.
This enthusiasm for online shopping can also be explained by the development of m-commerce, which is becoming increasingly popular in China. This is prompting more and more people to make purchases directly from their mobile devices. Among the top sectors that account for the most online sales in China, are Clothing, Accessories and Shoes, which are greatly favoured by Chinese shoppers, who are buying increasing numbers of Western products. This is the ideal opportunity for you to develop the visibility of your product catalogue, alongside an English brand which has already conquered the Chinese market.
To find out more about the ecommerce market in China and around the world:
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