Online shopping in China is booming and has hit a new all-time high with e-commerce achieving 10.1 percent of total retail transactions in the country this year. Utilizing information from Chinese statistical surveying firm iresearch, China web business news website China Internet Watch reported that total transactions from China’s online shopping market reached 628.76 billion yuan (Us$101.58 billion) In Q2 2014. This incorporates both of business-to-customer (B2C) and consumer-to-consumer (C2C) transactions. This is the first time online shopping has reached over 10 percent and this rate is expected to continue to increase in the future.
China’s online retail market is expected to grow by 45.8 percent overall this year bringing online to 10.4 percent of all retail purchases in the country.
With online sales only increasing, bricks and mortar stores are having to work even harder to get customers through their doors with many smaller boutiques already opting to close their doors and develop their online presence.
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