DUBLIN, May 23, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Business-to-Consumer E-Commerce Market in China 2016-2020" report to their offering.
The report forecasts the B2C e-Commerce Market in China to grow at a CAGR of 30.62% during the period 2016-2020.
The sheer consumption potential of China has resulted in the country gaining the interest of retailers across the world. While traditional retailing has a significant hold in the retail space in the country, e-commerce has gained considerable traction in the last few years. Within the e-commerce space, the B2C space in particular has been the interest of global heavyweights such as Amazon and Alibaba, which are active in multiple verticals in the online retailing space.
An emerging trend sweeping the market is the growth of m-commerce. The use of smartphones has been on the rise in China, reaching more than 50% of total mobile phone users in 2015. Online sales made via mobile devices were valued at $60.54 billion in 2015, an annual growth of over 100% from 2014. In 2015, China had 590 million mobile Internet users. Of this, 270 million used mobile Internet for online shopping. With the popularity of shopping through mobile devices growing, retail sales through these devices are likely to grow further over the next five years. Most of the orders placed via smartphones were for mobile devices, apparel, pen drives, memory cards, jewelry, and footwear.
According to the report, a key growth driver in this market is the facility of free shipping and hassle-free returns offered by online vendors. Free shipping has become the standard for many online retailers in China. These retailers are also offering hassle-free return policies to attract customers. Approximately 90% of online retailers in China offer free shipping and in-store pickup. Retailers like Alibaba, Tmall, JD.com, Dangdang, Suning, and Vipshop offer free shipping on all orders during holiday seasons
Further, the report states that a major challenge faced by retailers in this market is the slow pace of growth in payment options. Most consumers prefer COD as a payment method.
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Country profile: China
PART 06: Market landscape
PART 07: Market segmentation by device used for shopping
PART 08: Market segmentation by customer category
PART 09: Market segmentation by product category
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
For more information visit http://www.researchandmarkets.com/research/htkdg3/businesstoconsum
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/business-to-consumer-e-commerce-market-in-china-growth-of-3062-by-2020---free-shipping--hassle-free-returns-are-key-drivers---research-and-markets-300272987.html
SOURCE Research and Markets