Ecommerce Europe’s latest report, sponsored by Asendia, explores Chinese e-commerce, offering hints and tips, key facts, and expert insight from industry insiders including Asendia’s Jerry Leung.
While only 51% of people in China use the Internet, this still amounts to an impressive 583 million people; and with 74% of the population owning a smartphone, mobile already accounts for 50% of online sales.
One very important consideration is the accessibility of the Chinese market. Consider partnering with local businesses, as China is ranked fairly low on key measurements like logistics performance (28th), ease of doing business (84th), and e-government (70th). Don’t let this deter you, however ‒ as our Deputy CEO Asia and General Manager Hong Kong Jerry Leung explains, living standards in China are changing, providing more opportunity for consumers to buy from abroad. Quality and low price are the two main reasons for Chinese e-shoppers to make cross-border purchases, while cosmetics are the top product category.
Also, think about where you are showcasing your products. 65% of shoppers prefer to buy via the global channels of Chinese e-commerce sites, with just 39% preferring foreign shopping sites. When it comes to the payment methods you offer, take note of e-wallets, which are very popular in China ‒ 67% of online purchases are completed with an e-wallet.
Entering the Chinese e-commerce market is an ambitious undertaking, but, for the right business and with careful consideration, it can reap rewards. Download the full report here.