China new retail: A blend of the best of online and offline shopping
- China
- 5 min read
- Dec 12, 2018
- By Wang Xiao'e
Players big and small are contributing to China’s new retail revolution
In the two decades since China saw its first-ever internet shopping purchase on March 6, 1998, online retailing in the country has enjoyed explosive growth, swelling to an expected RMB 9.4 trillion in 2018. Today China is the world’s largest e-commerce market, having far eclipsed the US two years ago.
Homegrown e-commerce giants Taobao, JD.com and Pinduoduo are local household names, attracting shoppers with their low prices and convenience. Yet, sales at brick-and-mortar stores still account for 80–90% of the overall market.
That’s because online shopping still can’t beat the...
Homegrown e-commerce giants Taobao, JD.com and Pinduoduo are local household names, attracting shoppers with their low prices and convenience. Yet, sales at brick-and-mortar stores still account for 80–90% of the overall market.
That’s because online shopping still can’t beat the...
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