The world is waiting for Alibaba to hit Wall Street this summer as its IPO will likely be bigger than Facebook’s. That means China’s ecommerce market matters more than ever. New figures out today show that spending on China’s ecommerce sites keeps growing, hitting a grand total of RMB 446.44 billion (US$74.03 billion) in Q1 2014..
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Independent market research firm eMarketer released a study yesterday claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion. The Asia-Pacific region is driving ecommerce growth more than any other, and is expected to outpace the rest of the world at 23 percent growth over last year. China and Indonesia are leading the region’s growth..
Surrounding Chinese internet giant Alibaba’s recent market-changing acquisition of an 18 percent stake in microblogging platform Weibo, many reports have been published providing a barrage of data about the present and future activity of China’s e-customers. Since China will become the world’s largest e-commerce market by as early as 2015, this market’s dynamics are of crucial importance for companies to understand.
You’ve invested aggressively in your digital storefront. Your e-commerce platform is slick, the user experience is seamless, and the transaction is easy and hassle-free. You’re waiting for your breakthrough moment, but what will you do when it finally happens? Demand for your product is skyrocketing, but can you keep up with it?