China ecommerce ranks first globally, report shows

Wednesday 31 July 2019 14:36 CET | News

eMarketer has released a new report showing that China’s USD1.94 trillion ecommerce is the largest in the world, with Alibaba Group leading the way.

The rise of New Retail in China, which blends online and offline commerce to drive higher levels of engagement between brands and consumers, is inspiring innovations in retail across the globe, eMarketer noted. The report described a booming global ecommerce market, which is expected to grow 20.7% in 2019 to USD 3.5 trillion in sales.

China’s USD 1.94 trillion in sales will have contributed 54.7% of that figure, according to eMarketer. Here are the areas in ecommerce where China is leading, according to the report:

  • Mobile commerce: four out of five ecommerce dollars are being generated from mobile devices in the country in 2019 – or 80% – vs the 64.4% global average;

  • Mobile payments: Chinese consumers rely on apps, such as Ant Financial’s Alipay, for both online shopping and payments at physical stores. About 81% of smartphone users in China will use mobile payments in 2019, compared to just 27% in the US;

  • Cross-border ecommerce: this was a channel to watch, eMarketer said, as global infrastructure improves and small businesses have better access to global markets. In China, demand for high-quality household products, luxury goods, and high-fashion apparel is expected to drive the trend.

The leading ecommerce player in China according to the report is Alibaba Group. Alibaba’s Taobao and Tmall marketplaces ranked first and second globally in terms of gross merchandise volume, with Amazon at number three, according to Internet Retailer data cited by the report.

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Keywords: China, ecommerce, report, Alibaba, Tmall, Taobao
Countries: World

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