The market is driven largely by millennials who love fast fashion and want to find the best price possible. Still, China will surpass the US to become the largest retail market in the world for the first time—with $5.072 trillion (RMB35.043 trillion) in sales—as the US market … China is the growth engine of the world’s luxury goods sector. Based on estimated 2015 data (Figure 2), we have forecasted the scale change of pharmaceutical E-commerce. The China E Commerce Landscape With three times the size of the US market, the e commerce sector in China is the largest in the world. China announced a mere 6.7 percent economic growth in July 2018, the lowest growth rate since 2016. The Middle Kingdom’s near 1.4 billion population, its traditional and innovative products together with the government’s censorship have created a prospering economy – online and offline. With the diversification and increased sophistication of the small business, the marketplace is expanding in the area of ecommerce. In 2017, retail e-commerce sales worldwide amounted to 2.3 trillion US dollars and e-retail revenues are projected to grow to 4.88 trillion US dollars in 2021. To reduce the “pain” level of online shoppers, major e-commerce players in China seek total logistics solutions 19 Source: iResearch, company websites, compiled by Fung Business Intelligence China’s e-commerce market continues to see high double-digit growth year on year. Regional e-commerce sales share of global e-commerce. Yet, since decontrol of prescribed drug sales will be gradual, the anticipated growth of the pharmaceutical E-commerce market will be steady as compared to the explosive growth seen in the traditional E-commerce industry. Their overall efficiency are improved, ... Market landscape in China . Mobile and internet market avenues has allowed B2B, B2C, efinancial services, e-tailing and online marketplaces a venue for anyone to sell or market … Global FMCG retail is pegged at $4 trillion today, growing at a rate of just 4%, with signs of continuing sluggish performance in developed markets. In 2019, Alibaba's Tmall, JD.com, and Pinduoduo ranked as the leading three Chinese e-commerce retailers, accounting for nearly 80 percent of the total online retail sales in the country. In 2018, the total size of the Japanese e-commerce market was 166 billion USD (1 USD = 108.37 JPY). The successful launch of the first Internet fund, ... with a 19% share of the overall B2C market, after Tmall’s 61% of market share13. Increasing usage of smartphones and the convenience of purchasing daily essentials and luxury products from the comfort of home is primarily driving the growth. ... pie chart shows the percentage contribution made by individual traffic channels to overall sales. Ecommerce businesses are fast gaining grounds and changing the way of doing business. We forecast that retail sales in China will shrink by 4.0% this year. The e-commerce landscape in Japan. E-commerce portals are extensively used in developed countries such as the U.S., the U.K., and Germany for purchasing consumer durable goods and are poised to emerge as a steady revenue generating source for athletic footwear manufacturers over the … Traditional markets are only expected 2% growth during the same time. The global retail e-commerce market size was valued at USD 4.25 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2020 to 2027. Research and Markets: CHINA'S E-COMMERCE LANDSCAPE: China's E-Commerce Transaction Volume Will Reach US$1.3 Trillion by the End Of 2012 February 04, … E-commerce markets are growing at noticeable rates. Over the past 10 years, e-commerce in China has evolved from covering a few physical product categories, such as books and electronics, to now accounting for a significant percentage of total commerce in the country (close to 7 percent). Despite a slowdown in overall economic growth, Chinese e-commerce … In 2017, e-commerce amounted to 6.3 trillion yuan, accounting for more than 78% of total transactions. This year, China’s Singles’ day set a new record with US$30.8 and 27% growth when compared to last year. As E-commerce is a key part of the current retail landscape, we believe it deserves a prominent role in our database on European retail. Despite a desire for bargains, UK shoppers spend a huge amount online annually – nearly $1650 USD per shopper, with an overall market … E-commerce in China is estimated to exceed 5000 billion RMB in 2015. Business to consumer (B2C) trading which involves […] The figures are ... IRP Commerce Limited, Concourse 3, Catalyst, BT3 9DT, UK. Brands and retailers need to continuously innovate to keep pace with the growing list of … As you likely already know, China’s e-commerce sector is the biggest in the world right now. Ecommerce Benchmarks and Market Data - Ecommerce Conversion Rate, Sales, Channels, Costs for online Markets. The Double 11 event on 11 November 2017 – also known as Singles’ Day, when single people in China celebrate, and which has become a popular shopping holiday – was a clear example of how China’s consumption-led economy is evolving digitally.