Wed. Jul 10th, 2024

Chinese e-commerce is about to surpass the US

Avatar of Nick John By Nick John Dec25,2023 #Chinese #commerce
Chinese e-commerce is about to surpass the US 2
Chinese e-commerce is about to surpass the US 2

Grace Tng buys everything she needs online, from groceries to cosmetics.

Tng is just one of millions of Chinese people who love this type of shopping.

Tmall will surpass Amazon in revenue in 2016. Photo: China Daily

According to research company Euromonitor International Tmall, B2C shopping websites (businesses that sell goods to people) will surpass America’s Amazon to become the world’s largest online retailer in 2016. Tmall’s revenue is predicted to be

Tmall is owned by Alibaba Group – China’s number two Internet company.

`The problem is that Tmall only operates in China and has never expanded abroad,` said Lamine Lahouasnia, senior analyst at Euromonitor London.

Tmall controls 50% of China’s online shopping market and is moving into Hong Kong and Taiwan. They currently have more than 1 million users in Hong Kong and 500,000 in Taiwan.

According to Euromonitor, China contributes 12% of global internet revenue.

Chinese e-commerce is about to surpass the US

Along with Tmall, online shopping website Taobao is also Alibaba’s `golden egg-laying hen`.

According to Lahouasnia, this area has a large Chinese community.

Kirk Lau shops online once a week.

Analysts say China’s online shopping segment is still in its infancy.

In November, Alibaba announced that its second quarter profit nearly doubled over the same period to 273 million USD.

However, Jinkyu Yoon – director of Asia Internet Research at Nomura, warns investors about betting on this field.

Popular websites in China such as Tmall or 360buy.com are increasingly competing fiercely.

According to Lahouasnia, another reason is that fake goods are increasingly sold online.

Although there is a possibility of buying fake goods, Tang said he still feels that buying on these websites is better.

Thuy Linh (according to CNBC)

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *