Vendors across the board, from apparel to electronics, have taken their business online in China. More brands than ever before are focusing on increasing their online presence, in order to capitalize on the online boom.
The number of internet users in China is expected to surpass 43 percent of its total population by the end of this year. As the trend suggests, a significant number of people are already shopping online—a trend that will likely increase with the influx of smartphones in the Chinese market.
“China has grown tremendously in the past few years in terms of economic development, and the retail market in the country stands in second place globally. The rising disposable income of consumers, and increased online spending will continue to boost the online retail segment through the projected period,” says Faisal Ghaus, Vice President of TechNavio.
In the future, media and social networks will play a crucial role in online retailing, with promotions and publicity through various social platforms influencing online purchase decisions.
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TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies from 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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