UPM Biofore Magazine 1-2019

China’s pace-setting online shopping market offers a futuristic foretaste of things to come.

F ashion bloggers selling millions of handbags in minutes, online shoppers buying 100,000 cars within only 24 hours: these are not fictional figures, but daily reality in China, the world’s largest e-commerce market. China has been one of the world’s fastest growing economies for over three decades. Today, it is the world’s second largest economy, the fastest growing consumer market, and an e-commerce wonderland second to none. In 2018, China’s online retail sales totalled about USD 1.33 trillion, with sales up nearly 24% from 2017, reports China’s National Bureau of Statistics. China’s e-commerce market is currently larger than the whole of North America and Europe combined. According to estimates by The Economist , China’s growing world domination will continue: by 2020, it is expected to account for 60% of the global e-commerce market. China’s online shopping market is not only the world’s largest, but also the most innovative. Many believe that China’s e-commerce sphere offers a glimpse of how the future of e-commerce will eventually look all over the world. Whatever, whenever, wherever In China, almost anything can be bought online, from a luxury car to online courses, or even pet grooming services – the wealth of choice is inexhaustible. Internet shopping has transformed daily life in China. People shop whenever they want, wherever they want, and have it express-delivered at minimum cost – in a matter of hours in larger cities. Advanced logistic networks utilising big data, cloud computing, smart robots and drone-based delivery ensure speedy delivery to almost anywhere in China.

>>

1/2019 |  39