Chinese ecommerce Market: a huge potential!
China is offering one of the best potential concerning the e-commerce. The 4 main important countries are USA, China, Japan and South Korea.
What are the positions?
13.6 % of the world online spending is made in China, against 19.4 % in the United States. But China continues to grow: only one on five consumers buys online against more than half of the Americans. And it is really in the Chinese population, nearly four times larger than the U.S. population, where there is the first potential growth in e-commerce market.
This leads the Forrester Research office to designate China as the country with the second highest potential e -commerce in the world after the United State. They also analyse a number of factors such that payment habits, logistics infrastructure, purchasing power, Internet penetration and the size of the e-commerce market. Comparing to the growth of the Chinese population and its purchasing power, the demand for goods will grow and compete with the United States.
Chinese Social Media Lanscape
Japan weighs 7 % of the l global online sales, making it the third largest market for e -commerce potential of the world, despite a population of 127.6 million inhabitants only. The Japanese consumers as relatively affluent and they prefer durable goods. While in the world, 53% of online sales are for non-food products, this proportion rises to 71 % in Japan. Another feature that enhances its e-commerce potential: consumers will hold an average of 6.2 credit cards each, which is a world record.
Behind the United States, China and Japan, South Korea is ranked at the fourth place concerning the e-commerce market with the greatest potential.
The purchasing power is certainly lower than in Japan, but the high number of credit cards and debit per capita suggests also strong purchase intentions.
UK wins for its part the fifth position.
How to enter into the e-commerce in China?
You have to follow different tips to succeed in your e-commerce strategy:
– Follow the purchasing trends
– Adapt your content to the Chinese population
– Respect the local administrative constraints
– Take into account the technological considerations
– Optimize your website performance (SEO on Baidu)
– Analyse your result
– Use the popularity of other ecommerce plateforms.
Doing business in the e-commerce in China is sometimes difficult for companies because you have to meet the needs of the demand and try to increase your sales.
It is such a dynamic market and many company enjoy the opportunities to launch their business. Being present on the main social networks can represent an advantage because you will be able to increase your visibility on the net and attract more customers.
Contact us for more information. 😉