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China vs US Ecommerce
By 2020, online sales in the US and China are projected to reach $650 billion. China's e-commerce market has grown at a compound annual rate of over 120% since 2003, compared to 17% in the US. China's online market was worth $230 billion in 2012 with over 1 billion online shoppers, making it larger than the US market of $210 billion with over 322 million shoppers. Popular retail categories in China include electronics, apparel, and beauty products.
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China vs US Ecommerce
- 1. ecommerce usa vs china $ online salescould reach 650 billion by 2020 usa china China’s etail industry posted 1.4b 317m 120 % compound annual growth since 2003 *US: 17% 230 5% $ 210 >6% $ size of ecommerce market (2012) billion billion ecommerce share of total retail total number of online shoppers 1.4b “Bricks-and-mortar retailing is a mature business in the US, where consumers have been shopping in malls for decades and continue to do so, augmenting their purchases with occasional forays on the web. Online shopping is dessert in the US, but in China, it is the main course.” Jack Ma, Group founder and Chairman, Alibaba 1.25b 1.00b most popular retail categories in china 750m 1 electronics & appliances 2 apparel, fashion 3 beauty & personal 500m 317m 322m 250m 200m 189m annual spending online per buyer 1,028 1,439 $ $ 70 online sales channel mix 76% independent merchants % 90% of china’s ecommerce market is c2c marketplaces (ie. taobao) *US: <10% b2c brandtochina.com