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The company also forecast Chinese retail e-commerce sales to maintain its strong growth through to the end of its forecast in 2023. In a country where traditional channels of commerce are fragmented and often not consumer friendly, e-commerce provides customers with an abundance of choice, accessibility, easily-managed returns (not prevalent in other channels in China), and confidence in vendors at a clear price point. A deeper relationship between our two countries will unlock the untapped potential in our commercial ties, grow the prosperity of our middle class, and create new opportunities for Canadian businesses of all sizes. Issues surrounding the safety of domestic products have pushed consumers to look abroad for brands with a strong reputation and a focus on quality. In 2008, the Group launched its Singles’ Day marketing plan, in conjunction with the nation’s holiday of the same name, via its business-to-consumer online retailer Tmall. Chinese customers are spoilt for choice when it comes to delivery options and have a vast menu of preferences they’re able to define – from fast deliveries with tight, time-definable windows for the latest must-have tech products, through to slow but economical postal services for basic purchases. As well as Tmall, Alibaba Group owns platforms such as business-to-business site Alibaba.com, retail site AliExpress and Taobao, and online payment system Alipay – which controls around half of China’s online payment market. What is the most suitable e-commerce platform for your brand? Augmented reality shopping and 360-degree virtual reality panorama were introduced a year later to bring interaction to the consumers shopping at home. In 2017, Chinese consumers spent more than $750bn online – more than the UK and US combined. One way to think about it is 83% of the market is still open, and it's a massive market. Number of online shoppers in China from 2006 to 2017 (in millions): Naturally, large-scale socio-economic trends have their place. Founded in 1999, the five billion U.S. dollar company is currently the largest public company in China. China, world’s largest e-retail market, enjoys massive growth. A key factor behind China's e-commerce boom is the extensive digital payment infrastructure led by Alibaba's Ant and Tencent's WeChat. What are the most used e-commerce platforms in China? Apply for financial support, or take part in programs that help innovative or growth-oriented firms, and underrepresented groups. The rapid expansion of e-commerce in China has grabbed headlines around the world and reshaped the business landscape for both foreign and domestic firms. Alibaba is one of the largest internet companies in China (and the world), and is the company behind some of China’s biggest ecommerce platforms, including Taobao Marketplace, Tmall and AliExpress. The company initially started by offering trading and lifestyle services; according to Alibaba Cloud EMEA business president Yeming Wang, and is responsible for 55.9% of China’s retail e-commerce sales in 2019. The TCS assumes no responsibility for any company, product or service mentioned in this report, nor for any act or omission of any business connected with such products and services. For nearly a decade, China's B2B market was ruled by the e-commerce conglomerate Alibaba. The e-commerce platforms are numerous and tend to be refined more and more in China. The Trade Commissioner Service has a dedicated team in China focusing on e-commerce. Cross-border e-commerce (CBEC) industry is undergoing major policy changes. Exponential increases in production and consumption That confluence has given birth to over 772 million online users and 533 million online shoppers across the country. It is my hope that this guide will be useful for any Canadian business wanting a better understanding of e-commerce in China, and the opportunities that this online marketplace presents. A highlight of my trip was getting a first-hand look at the exciting e-commerce opportunities that China offers. Agriculture and ag-food companies looking for export are eligible to apply through Agriculture and Agri-Food Canada’sAgrimarketing program. In what traditionally has been a difficult market for smaller Canadian companies to access, e-commerce provides a relatively straight-forward path to gaining a foothold in China. The rapid expansion of e-commerce in China has grabbed headlines around the world and reshaped the business landscape for both foreign and domestic firms. Canada’s high quality goods and services are in demand. Between 2006 and 2017, eCommerce in China exploded at an unprecedented rate. Our business contacts include potential-customers, distributors, sources of finance or investment, technology partners and other intermediaries. Let us help assess your potential in specific markets, connect you with qualified contacts, or solve a market access problem. Mobile e-commerce benefits from partnerships with internet giants China saw a rapid development of mobile communication through the WeChat app and social platform Weibo over the review period. RMB. To help you grasp the volumes and the competition in the Chinese e-commerce landscape, here are the current top 10 leaders of e-commerce platforms in China in 2020 and their estimated monthly traffic … “Personalisation has become a popular buzzword when we talk about meeting the demands of consumers and Chinese companies have set the bar high in achieving this to enhance customer experiences. Concerns over the protection of intellectual property are valid and must be managed appropriately. Within China, our network of Trade Commissioners can provide you with expert advice - whether you are exporting, investing, partnering in market or considering the market. “There is a much higher degree of personalisation in Chinese online retail when compared to the West, where customers are expected to search for and purchase individual products themselves. Access guides, information and other resources to learn about doing business in international markets. Comprehensive parcel tracking is a primary feature of our new international outbound service which recently launched.”, 7 October 2019 (Last Updated February 4th, 2020 06:24). According to research conducted by Daxue Consulting, e-tailing accounted for 11 percent of total retail sales of consumer goods in 2015 and is estimated to reach 15-18 percent by 2020. We use cookies to ensure that we give you the best experience on our website. Government policies regulating the marketplace are dense, complicated and prone to change without notice. Funding and support for international business, alternative formats section of our help page, Getting Paid If You Have A Company In China, Getting Paid When Engaging In Cross-Border E-commerce, Main Considerations For Approaching The Market, Prepare for your entrance to international markets. According to the projections, by 2020 e-commerce market in China will be bigger than American, British, Japanese, German and French e-commerce markets combined. A comprehensive relationship with China is a priority for the Government of Canada. This not only improves profit margins for retailers but can enhance the speed of deliveries and reduce their carbon footprint. It also adds new chapters on using social media tools to build brand awareness and features Alibaba business solutions tailored to Canadian SMEs. China’s E-Commerce share is expected to reach half of the global market by 2020. And in June this year, retail e-commerce spend in China for 2019 was said to increase 27.3% to $1.935 trillion – making up 36.6% of total retail sales, according to digital data and research company eMarkter. “The growth of China’s e-commerce has been spurred on by wider socio-economic factors. UK delivery company Yodel director of international services Jayne James said: “One of the biggest reasons that Chinese e-commerce companies like Wish, Alibaba and JD.com are so successful is that they’ve been built in the internet age with tech at their core. Aldi market share in the UK – Growth of the grocer. With around 632 million internet users, China is the fastest-growing and largest e-commerce market in the world. Access useful information and reports on markets and sectors abroad. China’s $1.94 trillion e-commerce is the largest in the world, and more than three times that of the number two U.S. market, according to a newly released eMarketer report.And the rise of New Retail there, which blends the best of online and offline commerce to drive higher levels of engagement between brands and consumers, is inspiring innovations in retail across the globe, eMarketer noted. E-commerce has been growth fuelled by extortionate rentals on physical retail space, convenience compared to shopping in polluted, congested, vast urban areas & of course, the Chinese propensity for online services in such a digital … If you require a plug-in or a third-party software to view this file, please visit the alternative formats section of our help page. This year alone, the company has partnered with Italian fashion house Prada Group to open an authorised flagship store on its platform, introduced a new supply chain innovation initiative as part of its Retail as a Service strategy and is using artificial intelligence (AI) driven retail solutions to enhance health technology company Philips’ flagship store performance. E-commerce market in China – predictions . GlobalData's TMT Themes 2021 Report tells you everything you need to know about disruptive tech themes and which companies are best placed to help you digitally transform your business. Get introduced to the right people, and connect with potential business partners and clients by participating in a trade mission or event. Through smart consolidation of delivery partners for different retailers, brands are able to ‘share’ some of the core delivery costs. There are the latest updates: For a copy of this document and for more information about Hong Kong, please contact the Trade Commissioner Service at the Consulate General of Canada in Hong Kong and Macao at the following address: The TCS strongly recommends that readers obtain independent legal, financial and related forms of professional advice prior to acting upon information in this report. China is the world's largest E-Commerce market by transaction value. In China, however, brands tend to have stores on well-established online retailers – such as Alibaba – rather than have their own standalone sites. I am confident that this guidebook will provide Canadian companies with the information and resources they need to take the plunge with confidence. JD.com vice president and JD Retail Solutions general manager Chenkai Ling revealed, at Retail Week’s Tech event last week, that traditional walls in retail were collapsing, with the future of retail being boundless. I encourage Canadian companies of all sizes to explore export opportunities in China, and to consider the tremendous potential that e-commerce represents in the Chinese market. Retail Insight Network takes a look at the current and future state of e-commerce in China and what Western countries can do to mimic its success. Fortune Global 500 company Jingdong (JD.com) has continued to grow within China’s e-commerce market with its multiple retail acquisitions, and retail tech and supply chain innovations. For those interested in exploring cross-border e-commerce opportunities via Hong Kong or are interested in selling products in Hong Kong through e-commerce, please note that a separate guidebook on e-commerce in Hong Kong is also available. E-Commerce platforms by monthly traffic to use this site we will assume that you are happy it! Am confident that this guidebook will provide Canadian companies looking to enter the Chinese market was later rebranded the! 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