China has retained its position as the largest e-commerce market for yet another year. The growth of digital trading in China has seen consistent up rise mainly due to the effort by Chinese giants Alibaba and Tencent. These tech tycoons have empowered and revolutionized digital trading in the country.
Transactions through non-traditional e-platform got to 26.1 trillion yuan in the previous year. This is 19.8 percent more than the last year as per Sina News Report. This has enabled China to remain its place as the largest global ecommerce industry.
China rules the 39.2% of ecommerce global market as per a report compiled at the end of year 2016. This has made China the largest ecommerce industry worldwide for consecutive years.
Moreover the service market of ecommerce also rose up to 2.45 trillion yuan. This is 23.7 percent increase from last year.
Interesting: Hurdles to e-commerce industry growth in Pakistan
According to the report there has been a stable development from previous year in the quantity of staff working in e-commerce sector, quality of e-commerce transactions and scale of digital shopping customers.
Last year internet users in China reached 731 million. This makes more than half the country’s population, to be exact 53.2%. Out of these users 63.8% are online shopping consumers, this also rose 12.9 percent from 2015. The statistic of online shopping users in China is 467 million.
Moreover out of these users 441 million consumers use mobile phones to do online shopping. This also increased by 29.8% as the report further discussed.
The reason for the massive growth in China’s ecommerce industry is due to development of mega tech companies in the country. These companies include Alibaba’s Taobao and Tmall.
The report also indicated that the consumers place order mostly on clothing items, home furnishing, digital appliances, smartphones, electronic goods, food and drink, and baby accessories.
Image via: Ecommerce China