Saturday, April 21, 2012
News this week: According to a report released by the Boston Consulting Group (BCG), China will become the world’s largest online retail market by 2015 with a sale value of US$364 billion. By 2015, 8% of all retail sales in China will be conducted online according to BCG.
There were reportedly 513 million Internet users in China in 2011 – a penetration rate of 38%. This figure is expected to reach 701 million by 2015, representing a 51% penetration rate. Currently, there are about 193 million online shoppers in the country and will increase to more than 300 million by 2015. The report also noted that teenage Chinese Internet users spend at least two hours a week shopping online, while Internet users of other age groups spend a minimum of 1.6 hours a week.
This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.
Posted by Mark Cochrane at 5:52 p.m.