Rapid smartphone adoption fuels China’s online retail market boom
Total transaction volume in China's mobile shopping market is projected to reach $36.84b, a 140-fold increase from 2010.
The Chinese market may be a newcomer to the concept of shopping online using mobile devices, but is quickly catching up with its Western counterparts, and will likely overtake them. Currently, China's online retail market accounts for 6% of China's total retail sales, amounting to $64 billion. The shift to mobile shopping comes despite the fact that only 30% of the Chinese respondents said they had been shopping online for more than five years.
A recent survey indicates that over the next one year, one in four Chinese consumers are going to use their smartphones or tablets to shop online,…
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, Internet Banking
, Mobile Banking
, Retail Banking
, Technology & Operations
Keywords: Online Shopping
, Social Media