China online shopping GMV amounts to USD 73 bln in Q1 2014

Wednesday 21 May 2014 13:38 CET | News

China online shopping GMV reached USD 73 billion (CNY 456.44 billion) in Q1 2014, up 27.6% versus Q1 2013, according to a report issued by financial research company iResearch.

B2C sector expanded to 40% share of the online shopping market by GMV, climbing 4.7% as compared to Q1 2013. Data from the National Bureau of Statistics, cited by iResearch, showed that online shopping made up 7.4% of total retail sales of consumer goods in Q1 2014.

During the period under review, B2C transactions reached USD 29 billion (CNY 181.92 billion), which accounted for 39.9% of total online shopping GMV. B2C share rose by 4.7% from 35.2% in the same period of 2013, indicating a drop in C2C share. The year-on-year growth of C2C GMV in Q1 2014 stayed at 18.3% while that of B2C was a significant 44.6%.

The survey also mentioned that top 5 China B2C players include Tmall, JD, VIP, Yixun and Amazon China. Tmall and JD were the superpower in the competition. Tmall took up more than half of the share and JD grasped 23.3%.

Taobao, JD and VIP ranked top 3 by mobile shopping GMV with share of 76.4%, 6.9% and 2.0% respectively. Taobao has multiple mobile products including Taobao wireless, Taodiandian and Alipay wallet.

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Keywords: China, online shoppinh, ecommerce, online payment, GMV, B2C, C2C, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce