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PR Newswire
22-03-2013, 11:59 AM
Online shopping seems popular in China, especially smaller cities.
Online shopping: The key to opening China’s wallets
BEIJING — Marketers have struggled for years with how to convince China’s infamous savers to spend their money. Now the secret has been unlocked: It’s all about being online.
Such, at least, is the message of a new report from consultancy McKinsey and Co, which found that e-commerce is convincing Chinese consumers to open their wallets.
China’s e-commerce market, the largest in the world behind the United States, is booming, with sales expected to reach US$420 billion (S$525 billion) to US$650 billion by 2020, up from US$190 billion to US$210 billion last year, according to McKinsey.
Around 40 per cent of China’s consumers would not have made purchases if not for the option of e-commerce, added the report, which used data provided by a major online company to analyse online spending from consumers in 266 cities.
http://www.todayonline.com/chinaindia/ch...as-wallets
Online shopping: The key to opening China’s wallets
BEIJING — Marketers have struggled for years with how to convince China’s infamous savers to spend their money. Now the secret has been unlocked: It’s all about being online.
Such, at least, is the message of a new report from consultancy McKinsey and Co, which found that e-commerce is convincing Chinese consumers to open their wallets.
China’s e-commerce market, the largest in the world behind the United States, is booming, with sales expected to reach US$420 billion (S$525 billion) to US$650 billion by 2020, up from US$190 billion to US$210 billion last year, according to McKinsey.
Around 40 per cent of China’s consumers would not have made purchases if not for the option of e-commerce, added the report, which used data provided by a major online company to analyse online spending from consumers in 266 cities.
http://www.todayonline.com/chinaindia/ch...as-wallets
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