According to the National Bureau of Statistics of China, e-retailers in China sold $534.45 billion (3.453 trillion yuan) worth of goods in the first 11 months of 2015. An increase of 34.5% over the same period a year ago.
According to Internet Retailer these numbers includes both physical and virtual products and when breaking it out online sales of physical goods grew 33.0% to $446.87 billion (2.887 trillion yuan).
During the same period online sales of virtual products increased 42.9% to $87.56 billion (565.7 billion yuan).
Replicating Its Success Overseas
At the same time cross border e-commerce is booming. According to the State Post Bureau parcels shipped from China to other countries handled by the government-run postal service, China Post, increased 90% in 2015 compared to the same period last year.
E-commerce companies like Alibaba and JD.com is playing a key role and has during the year opened offices in Europe and is expanding further in the US. At the same time Singles’ Day on 11th november has morphed into China’s biggest excuse to shop online and Alibaba is now trying to replicate its success overseas.
– This year we saw many mergers and acquisitions for e-commerce companies and large Chinese e-commerce companies expanded by focusing on new business areas, such as cross-border e-commerce, omnichannel and e-commerce in villages, says China E-commerce Research Center senior analyst Zhang Zhouping.