The annual trade volume of China’s online shopping market in 2008 surpassed the amount of 100 billion yuan (over 14 billion US dollars) for the first time, totaling 120 billion yuan, up by 128.5 percent year on year. Compared with the previous year, the growth rate rose by nearly 40 percentage points.
The data come from the “2008 China Online Shopping Research Report” , jointly published by iResearch Consulting Group, a domestic polling organization, and taobao.com.
Shanghai topped the country’s online shopping cities with a total volume of 16.5 billion yuan ($2.4 billion) in 2008, and yearly spending online was 2,200 yuan per capita, according to the latest report on online shopping. The report also shows that, in 2008, the number of registered online shoppers in China increased by 185 percent from the previous year, reaching 120 million customers.
Analysts say that China’s online shopping market breaking the 100 billion yuan threshold is the sign that online shopping has already become an important component of the nation’s retail market.
The total volume of online shopping in China reached a record high of over 120 billion yuan in 2008, up 128.5 percent over 2007.
“E-business has become a vital part of the retail world, and large cities, like Shanghai, Beijing, Shenzhen that dominate the offline retail world also lead the pack online,” said Liu Zheng, senior consultant from Beijing-based SDR Consulting Company.
“It is also notable that the second and third tier cities such as in Shandong and Jiangsu provinces have become the major growing areas for online shoppers,” he added. “More than 70 percent of users of Taobao.com are from those second and third tier areas.”
Male online shoppers outnumber women, accounting for 55 percent. Electronic products are the main consumption choice among male shoppers, the report said.
Despite the proximity of several large shopping malls, 27-year-old Shanghai resident Xiao Gao said she prefers shopping on the Internet.
“Online shopping has increasingly become a mainstream lifestyle, and I purchase products or services online at least once a week,” she said. “Low price is the chief consideration.”
“It’s kind of life support that can reduce the traffic driving to those stores,” she added. “I am making online shopping a habit and spending more.”
“Shoppers across the country are increasingly turning to the Internet for the variety, value and convenience that it offers,” Liu Zheng said.
“Online sales will continue to gain momentum as the economic depression period continues.”
So far, Taobao.com retains a stable leading position in online shopping with 82.2 percent market share, followed by paipai.com and eachnet.com, with 9.9 percent and 7.9 percent, respectively.
Consumers’ main complaints about online shopping involved the inconsistency between picture and product and delayed delivery, the report said.
