Happy Chinese New Year! And what you should know about China.
Did you know
that each year, Chinese e-commerce grows by more than what the entire UK e-commerce is worth in total? In 2018, Chinese e-commerce will grow by $233.5 billion. That’s $30 billion more than the total value of all goods bought online in the UK.
that every year, Chinese online shoppers spend over $100 billion just on clothes? Fashion is the most popular item for Chinese online shoppers. Each year, Chinese online clothing sales are worth more than the entire UK fashion industry.
that one single Chinese e-wallet has more users than there are people in the EU? The Chinese e-wallet WeChat Pay has 900 million users compared to 500 million people in the whole EU. Want to beat the Brexit blues? Sell in China!
that 40% of all global e-commerce sales are made in China? The Chinese share of all global retail sales is around 30% but for e-commerce sales, it’s 40%. And that number will grow as more people come online. Want to sell to the world? Start in China!
More facts and figures you can find in our China insight report. Download it now here.