Insights into the growth of China ecommerce profiling payment methods, target audiences, marketing, social media, economy and logistics
Economy
China is home to 1.4 billion people with a total GDP of US$16.8 trillion USD. GDP per capita is currently US$11,95 and expected to reach US$17,006 by 2026.
Digital User Insights
There are currently 987 million ecommerce users in China, to reach 1.2 billion by 2025. The average user spends US$1276 online, which will grow to US$1336 by 2025.
Product Categories
Total ecommerce revenue across all product categories is US$1.2 trillion, expected to reach US$1.6 trillion by 2025. Fashion is currently the leading product category, accounting for US$330 billion market share. Toys, Hobby & DIY is second, accounting for US$321 billion .
By 2025, Fashion will still lead, valued at US$454 billion. Toys, Hobby & DIY will also grow, reaching US$441 billion.
Logistics
In 2018, China was ranked 26th in the World Bank Logistics ranking making it among the easiest countries in the world to deliver to. 56% of China’s population reside in urban areas.
Preferred Online Payments
In 2020, 60% of Chinese online shoppers paid by e-wallet, with the next most popular payment method being cards (18%), bank transfer (9%) and cash on delivery (6%).
Where does China buy from?
China imports from South Korea (US$160 billion), Japan (US$139 billion), United States (US$119 billion), Germany (US$109 billion), and Chinese Taipei (US$97.4 billion).
Internet and Device Usage
Internet penetration in China is currently at 70%. Smartphone penetration is 67% and is projected to grow to 75% by 2025.
55% of online shoppers in China shop online via mobile or smartphone. 30% of shoppers make purchases via tablet, and 29% made their most recent purchase via PC.
Marketing
Total Marketing spend in China has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the highest market spend reaching US$76.8 billion.
Social Media
China’s Social Media Penetration is 64% in 2021, with this expected to surpass 56% by 2023. WeChat, Sina Weibo, the short video app Kuaishou, and its domestic rival Douyi are the leading social networks.
For more market insights, check out the ESW series of blogs covering a range of emerging ecommerce markets.
*Insights derived from ESW data, Statista, WorldBank, OECD and other industry sources.
