With the quarantine of Wuhan, China, and more than a dozen other cities in a region known as a manufacturing hub, more than 45 days of manufacturing have been lost to date. For ecommerce, China’s dominance means that 62.6% of all digital sales will take place in Asia-Pacific. With over $1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. Skin care was the best-performing category. For instance, Amazon would be is the world`s most successful Company in the field of Electric Online business. Meituan, formerly known as Meituan Dianping, announced the company's official name change from September 2020. KEY STAT: China’s retail ecommerce sales in 2019 will grow much faster than total retail, increasing 27.3% year over year to $1.935 trillion. In 2019, the total trade volume of the retail e-commerce market of China reached 10.32 trillion yuan, up from 8.56 trillion yuan in 2018. Learn more about how Statista can support your business. Please authenticate by going to "My account" → "Administration". In 2019, overall e-commerce transactions exceeded 34.8 trillion yuan, increasing from around 31.6 trillion yuan the year before. You can only download this statistic as a Premium user. This report features our latest forecasts for retail ecommerce, mcommerce, digital buyers and the top ecommerce sites in China—as well as the latest developments in retail, social commerce and consumer behavior. THE UK MOBILE BANKING COMPETITIVE EDGE REPORT 2020: How the largest UK financial institutions rank ... Voice Assistant and Smart Speaker Users 2020. China enjoyed a sizable uptick in sales, rising from just 2 percent year-on-year growth in 2016 to 8.3 percent in 2017. 3 Most Famous E-Commerce Companies in China 11/18/2016 04:56 am ET E-Commerce is one of the major trend of conducting trade in the 21st Century. Retail sales in China will grow 3.5% to $5.291 trillion this year. The law is a framework for regulating China’s rapidly growing ecommerce market. Profit from additional features by authenticating your Admin account. While retail sales in China sputter in the face of economic and geopolitical challenges, ecommerce continues to thrive. Please contact us to get started with full access to dossiers, forecasts, studies and international data. As a Premium user you get access to the detailed source references and background information about this statistic. Local and international and over 1 Mio. e-commerce transactions between China and other countries increased 32% to 2.3 trillion yuan ($375.8 billion) in 2012 and accounted for 9.6% of China's total international trade. facts. Can it take on Netflix? As soon as this statistic is updated, you will immediately be notified via e-mail. Statista. As that growth takes place, China’s e-commerce China’s eCommerce market offers a glimpse to the future of global retailing. China, today, is characterised by mobile-first consumer behaviour, vibrant social commerce adoption, and a ubiquitous digital payments infrastructure. China: Revenue in the eCommerce market is projected to reach US$1,117,204m in 2020. But retail ecommerce has continued to flourish in some surprising ways under these current circumstances. Which are the top retail ecommerce sites by sales in China? Pursuit of low-cost spaces by entrepreneurs and provision of vacant houses by local farmers has encouraged an e-commence-induced informality. The giant discount retailer reported Tuesday that net e-commerce sales in China grew 104% from a year ago in the three months ended July 31. (July 10, 2020). New, Everything you need to know about the industry development, Find studies from all around the internet. You only have access to basic statistics. Digital commerce players continue to innovate and recalibrate. Corporate solution including all features. By 2023, retail ecommerce sales will represent 63.9% of … "Value of Leading E-commerce Companies in China in 2020 (in Billion Yuan). Guanghua School of Management, Peking University, Vice President, China/APAC and Global Ecommerce Practices, Cross-Border Retail Ecommerce Buyers in China, 2017-2022 (millions, % change and % of digital buyers), Product Categories in Which Cross-Border Digital Buyers in China Make Cross-Border Digital Purchases, Jan 2019 (% of respondents), Average Spending per Consumer in China, by Product/Service Category, 2017 & 2018 (Chinese yuan renminbi and % change), Retail Sales Share of Tier 3 Cities and Below in China, 2013-2018 (% of total retail sales), Mcommerce App User Share in China, by City Tier and Platform, Nov 2018 (% of total), Leading Product Categories that Urban Social Commerce Digital Buyers in China Have Purchased in the Past Year, Oct 2018 (% of respondents), Urban Internet Users in China Who Purchase Select Product Categories via Social Commerce Platforms, by Gender, Oct 2018 (% of respondents in each group), JPMorgan saw a surge in card payments over Black Friday weekend, Amazon Advertising sees lower spending growth on Black Friday compared with 2019, Kroger breaks into top 10 US ecommerce companies, Walgreens is the latest retailer to launch a media network in a bid for ecommerce channel ad spend. Listed companies’ value was calculated from the closing price on June 30, 2020, non-listed companies’ value was taken from the most recent valuation. You need at least a Single Account to use this feature. E-commerce boom in China has led to the rapid growth of the local footwear industry but also contributes to rising costs of production elements. China’s Ecommerce Law was passed by the Standing Committee of the National People’s Congress on August 31, 2018 and will go into effect on January 1, 2019. Chart. This feature is limited to our corporate solutions. "Value of leading e-commerce companies in China in 2020 (in billion yuan)." The emergence of China's e-commerce market inaugurated a new era of the country’s economy. 64% – e-commerce’s expected share of China’s total retail sales in 2023 3 560m – the number of digital buyers in China in 2018, with this set to rise to 634m in 2020 2 For apparel, China’s largest e-commerce category, 85 percent of … Read more. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company.Founded in 1998, its subsidiaries globally market various Internet-related services and products, including in entertainment, artificial intelligence, and other technology. This supply scarcity is resulting in product availability challenges for retailers across industries—from auto m… Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Meanwhile, consumers continue to blur the boundaries between online and physical channels. Value of leading e-commerce companies in China in 2020 (in billion yuan) [Graph]. In addition, the market is fiercely competitive. China’s three largest e-commerce platforms Alibaba ($BABA), JD.com ($JD) and Pinduoduo ($PDD) have all released their earning results for … You need a Single Account for unlimited access. China is one of the largest e-commerce markets and adopters of digital technologies in the world. KEY STAT: China’s retail ecommerce sales in 2019 will grow much faster than total retail, increasing 27.3% year over year to $1.935 trillion. A paid subscription is required for full access. Insights from industry and company leaders. [50] Estimates are included for the following areas: Exportable files for easy reading, analysis and sharing. 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Please create an employee account to be able to mark statistics as favorites. At present, it accounts for 23.1 percent of overall retail spend. E-commerce development in China China's e-commerce industry … In 2013, Alibaba had an e-commerce market share of 80% in China. Asia-Pacific will account for 42.3% of retail sales worldwide, North America will capture 22.9%, and Western Europe will make up 16.2%. Most valuable e-commerce companies in China 2020 Published by Yihan Ma, Nov 6, 2020 In 2020, Alibaba remained the most valuable e-commerce company in China… The e-commerce landscape in China is evolving rapidly as millions of consumers enter the middle class and local brands are proving to be increasingly capable … PPP SMALL BUSINESS LOANS [SECOND ROUND UPDATE]: How $525 billion in coronavirus-linked loans were ... 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China's Richest. According to The NPD Group, e-commerce sales in China reached $710 million in August, up 61 percent year-over-year. There are 4 main ecommerce sales channels (Your Website, Online Marketplace, Social Media, 3rd Party In-Country Distributor), consider the mix of available sales channels when planning your eCommerce strategy. In, Hurun Research Institute. 2 Analysis on Used Car E-Commerce Industry in China, 2011-2015 3 Competition Status of Used Car E-Commerce Industry in China, 2013-2015 4 Top 5 Used Car E-Commerce Enterprises in China, 2013-2015 COVID has accelerated the e-commerce industry’s growth and more businesses are joining the e-commerce business revolution than ever before. By 2023, retail ecommerce sales will represent 63.9% of total retail sales. India's Richest ... in-store appeal for consumers and move into the world of e-commerce with an effective omnichannel strategy that offers a … The second-largest ecommerce market in the world is the U.S with $586.9 billion. 21 China’s internet penetration stands at 54.6 percent, 22 a figure that suggests there are still plenty of as-yet-untapped potential customers for the e-commerce industry to court. Please do not hesitate to contact me. In FY17, China had over 750 million Internet users and a penetration of nearly 55%. The ideal entry-level account for individual users. … JD.com has a 16.7% share, while upstart Pinduoduo will grow much faster than any other site in the top 10. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Then you will be able to mark statistics as favourites and use personal statistics alerts. Are you interested in testing our corporate solutions? As a Premium user you get access to background information and details about the release of this statistic. Second, the focus is mainly on exports, which is expected to continue the rapid development trend. Three of the six largest ecommerce markets are in Western Europe. In 2019, retail ecommerce sales will expand 27.3%, reaching $1.935 trillion, or 36.6% of total retail sales. The ripple effect this has across the global supply chain is becoming more apparent as companies are being forced to halt production of finished goods due to lack of necessary parts provided by the quarantined region. We forecast that retail ecommerce sales will maintain strong growth through the end of our forecast in 2023. One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of July 2020). This report features our latest forecasts for retail sales, retail ecommerce, social commerce, mcommerce, digital buyers and the top ecommerce sites in China. Register in seconds and access exclusive features. We forecast that growth will not see a rebound until 2021. First, the scale of cross-border e-commerce transactions continues to expand, accounting for an increasing proportion of China import and export trade. Accessed December 08, 2020. https://www.statista.com/statistics/1134335/china-most-valuable-ecommerce-companies/, Hurun Research Institute. Then you can access your favorite statistics via the star in the header. That’s considerably weaker than 2016’s growth rate of 10.4% and is a continuation of a slowdown that started in 2018. Reliable data in simple displays for presentations and quick decision making. ", Hurun Research Institute, Value of leading e-commerce companies in China in 2020 (in billion yuan) Statista, https://www.statista.com/statistics/1134335/china-most-valuable-ecommerce-companies/ (last visited December 08, 2020), Value of leading e-commerce companies in China in 2020, E-commerce revenue in China 2017-2024, by segment, E-commerce share of retail sales in China 2014-2019, Total e-commerce trade volume growth rate in China 2008-2019, Breakdown of e-commerce transaction value in China 2019, by type of e-commerce, Number of employees in the e-commerce segment China 2012-2018, by type, Listed companies in e-commerce China 2019, by category, Most valuable e-commerce companies in China 2020, Transaction volume of B2B e-commerce in China 2012-2019, Annual change of transaction value of B2B e-commerce in China 2011-2019, Revenue of China's B2B e-commerce market 2012-2018, SME B2B e-commerce platforms revenue in China Q2 2018-Q2 2020, Distribution of online retail sales China Q1 2018-Q2 2020, by e-commerce type, Online retail sales value in China 2019, by region, Online retail sales in goods value in China 2019, by region, Online shopping market share in China Q1 2018-Q2 2020, by device, B2C online retail market platforms' transaction share in China Q3 2020, GMV of China's import e-commerce market 2013-2021, Market size of social e-commerce industry in China 2014-2020, Transaction value of second-hand e-commerce in China 2015-2020, Local life service O2O market GMV e-commerce in China 2015-2019, Fresh food e-commerce GMV in China 2013-2019, Market value of live commerce in China 2017-2020, Number of China's mobile e-commerce users 2016-2020, Age group distribution of internet shoppers in China 2019, Ranking of ecommerce companies in Spain 2019, by revenue, Total and e-commerce U.S. retail trade sales 2000-2018, Share of e-commerce sales in total U.S. retail sales 2010-2020, Quarterly U.S. e-commerce retail sales 2009-2020, Global e-commerce market share of leading e-retailers 2019, U.S. holiday season retail e-commerce revenue 2014-2020, E-commerce revenue forecast in Poland 2017-2024, Leading e-commerce sectors by revenue in Spain Q4 2019, United States: retail e-commerce sales 2017-2024, Total retail and e-commerce sales in the United States 2018, by business, E-commerce value of U.S. apparel wholesale merchant trade 2006-2018, E-commerce sales of U.S. electronic shopping and mail-order houses 2018, Total and e-commerce U.S. merchant wholesale trade sales via MSBOs 2006-2018, E-commerce value of U.S. furniture wholesale merchant trade 2007-2018, E-commerce value of U.S. nondurable goods wholesale merchant trade 2007-2018, Quarterly U.S. desktop retail e-commerce spending 2007-2020, United States: retail e-commerce sales 2014-2024, U.S. holiday season e-commerce sales growth 2013-2020, Canada monthly e-commerce retail sales 2016-2020, Import cross-border B2C e-commerce platforms' market share in China Q3 2020, Contribution of e-commerce to GDP of Malaysia 2015-2019, Value of leading e-commerce companies in China in 2020 (in billion yuan), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, generated more than 20 billion yuan from its new initiatives segment. 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