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China is home to the world’s largest online population with over 460 million Internet users. There is no doubt about it, e-Commerce is here to stay. And in China, it’s growing at break-neck speed. In 2010, Internet sales in China grew by 22% to reach $685 Billion. To put things in perspective, this was generated by only 158 million online shoppers, or just more than 10% of China’s population leaving immense room for growth. E-commerce is now 12% of China’s GDP, and will only get bigger.
The e-commerce bug is sweeping the nation, reaching even into the most remote towns and villages. A growing number of factory workers are returning to their home to start up their own online businesses. Most of them have little education and barely know how to use a keyboard. “One finger” online businesses are being formed every day on popular C2C e-Commerce sites where proprietors average more than $100 in revenues every day, substantially more than they can make in a factory. There were an estimated 25,000 e-commerce sites in China in 2010, serving everything from single towns to the entire country.
China's e-commerce market is dominated by Chinese companies, with the most prominent being Alibaba Group’s Alibaba and TaoBao. Speaking at a recent China-USA trading conference in New Jersey, Jack Ma, Alibaba Group’s CEO and legendary China e-Commerce pioneer noted that Alibaba Group is “100% Made in China, and now a global e-giant”. Considering its 370 million users and a recent valuation of $32 billion, Alibaba and TaoBao are making its mark on the world.
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