These are the findings of a study conducted by research company Mintel.
China`s total ecommerce transaction size is set to reach USD 1.49 trillion (CNY 9.7 trillion) by 2020, shanghaidaily.com reports, citing the research. Spending on overall online-to-offline (O2O) services in China is expected to more than triple to USD 0.64 trillion (CNY 4.2 trillion) from 2015 to 2020, with a significant amount of capital from internet companies and venture capital firms investing into new service models and tech startups.
“People will rely on their mobile phones for everything with mobile retailing and services expected to dominate the majority of the consumer economy,” according to Mintel`s report.
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