Chinese online retail customers set to double by 2020

Chinese online retail sales are expected to hit $1.6 trn by 2020, with the penetration rate doubling from 11% in 2014 to 22%, according to a report published yesterday by Bain & Company and Alibaba,  with the main drivers for growth being business to customer, mobile Internet commerce and trans-border Internet commerce. On-line commerce was helping brands respond to the demand for niche products and reach customers in third- and fourth-tier Chinese cities, according to Bain’s Ding Jie. Companies should now be digitalising their operational models and getting to grips with ICT’s impact on R&D, supply chains and sales, his colleague Han Weiwen said. 

Source: chinadaily