The Chinese online retail market will be more than double the size of the US market, which will reach USD 713 billion in 2022, and ten times larger than Japan, at USD 159 billion, revealed the “E-commerce in China: Trends and Outlook for The Largest eCommerce Market in The World” report.
In 2018, China’s ecommerce market will reach USD 1.1 trillion, becoming the world’s first trillion-dollar ecommerce market. The report also shows that there is room for growth, with just 38% of China’s total population shopping online.
More than 76% of all ecommerce in China takes place by utilising mobile devices. With 80% of metro Chinese shoppers using Alipay and 66% using Tencent’s WeChat Pay to pay for a product or service in 2018, mobile payments remain the most popular choice for online purchases.
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