China E-Commerce: Online Shopping Market Size Reached RMB 268 billion
During second quarter of 2012, China’s online shopping transaction volume reached RMB268 billion, representing a 17.6% increase compared with Q1. C2C online shopping sites contributed to 67% of total market share. However, B2C transactions increased dramatically – up by 44% (RMB89.4 billion) compared with Q1 and by 143% compared with Q2 2011.
The China Observer’s View
Western brands and companies should keep an eye on China’s e-commerce market -where there are now 210 million online shoppers. China’s e-commerce sector is growing extremely fast and presents a tremendous opportunity to Western firms seeking to sell their goods in China. Even more importantly, the online channel enables Western firms to reach consumers in 2nd and 3rd tier cities in markets outside of central hubs in Beijing, Shanghai and Guangzhou…