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What and how: China’s e-commerce continues to grow

ConsumerGeniuses

ConsumerGeniuses

Emarketer, a market research firm, predicted that e-commerce in China is expected to grow. In 2021 more than half (52.1%) of the country’s retail sales were generated from online channels, while the rate increased up to 55.6% in 2022. The growth percentage is anticipated to reach 57% and 58.1% in 2023 and 2024, respectively. Emarketer revealed reasons and innovations behind e-commerce growth and declared emergence of Alibaba as the leading reason among others. Inspired by Alibaba, JD.com, also added into the country’s revenue. The smartphone empowered culture and advanced digital payment methods, including Alipay and WeChat helped e-commerce function effectively. Plus, the low-cost delivery services prompted consumers to shop from online channels, instead of non-customer-centric shopping outlets. Currently, WeChat mini-programs, live commerce, and Pinduoduo are driving the progress of e-commerce in China.

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