According to a report released by the Boston Consulting Group (BCG), China will become the world’s largest online retail market by 2015 with a sale value of US$364 billion. By 2015, 8% of all retail sales in China will be conducted online according to BCG.
There were reportedly 513 million Internet users in China in 2011 – a penetration rate of 38%. This figure is expected to reach 701 million by 2015, representing a 51% penetration rate. Currently, there are about 193 million online shoppers in the country and will increase to more than 300 million by 2015. The report also noted that teenage Chinese Internet users spend at least two hours a week shopping online, while Internet users of other age groups spend a minimum of 1.6 hours a week.
Courtesy: Business Strategies Group Hong Kong