Chinese outbound-inbound ecommerce to hit USD 1.32 trln by 2018

Monday 30 October 2017 11:18 CET | News

The Chinese Cross-Border E-commerce Index has predicted that by 2018, value of Chinas import and export transaction via ecommerce might hit USD 1.32 trillion (CNY 8.8 trillion).

This includes retail and business-to-business transactions. Cross-border ecommerce transaction in China have reached USD 1.01 trillion in 2016, up by 31.6%.

According to the index, people born in the 1980s were the major buyers, accounting for 59% of the cross-border orders in 2016, while those born in the 1990s made up 23% and those born in the 1970s accounted for 14.4%. Most of these buyers were highly educated, employed in big corporate and had kids.

In the year 2016 and 2017, the best-selling goods were cosmetic products, baby-mummy products, shoes, clothes, health products, accessories and suitcases.

Shanghai, Beijing and Hangzhou are top three locations where people favored cross-border ecommerce. Shanghai consumers accounted for 11.9% of the entire cross-border buyer population, while Beijing consumers accounted for 11.1% and Hangzhou consumers for 3.8%.

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Keywords: China, ecommerce, report, import, export, transaction, cross-border, Asia
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce