China is to Remain the World’s Largest Online Retail Market
China accounts for more than half of global online retail and experiences ongoing growth of online and offline integration
The whole of Asia-Pacific, including China, underwent significant changes in the payment industry after the COVID-19 onset in 2020, noting a considerable development in online and mobile payments. China is also currently generating more than one-half of global retail E-Commerce sales of products and services. Additionally, mobile payments as a payment method in the region were rapidly adopted and are expected to evolve even further in the upcoming years. Furthermore, the size of China’s B2B cross-border E-Commerce market is forecasted to grow by over 160% between 2021 and 2025, whereas the annual growth rate was predicted to decline steadily after hitting a peak in 2022.
Mobile shopping, social and cross-border commerce drive the online retail market in China
Mobile is the main device used in China not only to connect to the Internet, but also to make digital purchases. Therefore, it is not surprising that Livestream E-Commerce emerged as a big evolving trend in China. The amount of Live Commerce users reached 62.4% of the total number of Internet users during 2020 and the number of livestream users increased by approximately 55% from 2018 to 2020, according to a source cited in the report. Furthermore, almost half of the Chinese online shoppers increased their purchasing frequency as of 2020.
As of 2021, Alibaba and JD.com are the largest B2C E-Commerce market players in China, with a current joint market share of more than 60%. However, according to a source cited in the publication, Taobao and Pinduoduo were the most popular online marketplaces in China. In Q2 of 2021 Taobao had close to half a billion average monthly visitors, which was the highest marker compared to figures of other B2C E-Commerce sites in the country.
Alibaba and JD.com hold a duopoly of Chinese retail E-Commerce market
- This report covers the B2C E-Commerce market in China. A broad definition of retail E-Commerce used by some original sources cited in this report might include both B2C and C2C E-Commerce.
- The report contains relevant information about international comparisons, market trends, B2C E-Commerce sales and shares, Internet users and shoppers, products, payment methods, delivery and players.
- The report starts with an overview of the B2C E-Commerce market and international comparisons, where the relevant country is compared to other countries in the region in terms of criteria relevant to E-Commerce.
- Next, the “Trends” section includes an overview of market trends, such as M-Commerce, Live Commerce, and cross-border E-Commerce.
- The section “Sales & Shares” covers the development of retail B2C E-Commerce sales and E-Commerce’s share of total retail sales.
- In the “Users & Shoppers” section, information about Internet penetration and online shoppers is included.
- Afterwards, the section “Products” shows the leading product categories purchased online.
- The next section, “Payment”, covers the payment methods most used by online shoppers.
- Furthermore, the “Delivery” section covers information related to delivery in B2C E-Commerce.
- Finally, the “Players” section includes information about the leading market players including a ranking of major B2C E-Commerce platforms by market share.
Please note: For this report, the purchase of an Enterprise licence allows up to ten worldwide users of an organization access to the report.
Table of Contents
1. Management Summary
2. Overview & International Comparisons
- Top 5 Countries Worldwide by Retail E-Commerce Sales, in USD billion, by China, Japan, South Korea, the UK, and the USA, 2020e
- Global Retail E-Commerce Shares of Top 2 E-Commerce Markets, in %, incl. China, 2021
- Top 4 Countries Bought From in the Latest Cross-Border Online Purchase, by China, Germany, the UK and the USA, in % of Cross-Border Online Shoppers, 2020
- Attitude of Representatives of B2B Companies Towards Effectiveness of Omnichannel Sales Model in Reaching Serving Existing Customers Compared to Pre-Pandemic, by Countries, in %, February 2021
- Online & Mobile Payment Post COVID-19, August 2021
- 50 Digital Challenger Banks in Select Countries, June 2021
- Ecosystem of Profitable Digital Challenger Banks, incl. Number of Users, in millions, June 2021
- Number of Mobile Internet Users, in millions, and Penetration, in % of Internet Users, 2017-2020
- Mobile Shoppers, in millions, and Penetration, in % of Mobile Internet Users, 2017-2020
- Devices Used for Shopping Online, in % Adult Online Shoppers Who Buy Daily or Weekly over the Internet, 2021e
- Shopping-Related Activities Carried Out Online, in % of Internet Users, Q3 2020
- Number of Users of Internet, Online Shopping, and Live Commerce, in hundred million, 2020
- Number of Livestream Users, in millions, and Penetration, in % of Internet Users, 2018-2020
- Live Commerce Sales, in USD billion, in % of Total Retail E-Commerce Sales, 2019-2023
- Top 3 Countries Purchased From in the Latest Cross-Border Online Purchase, in % of Cross-Border Online Shoppers, 2021
- Share of Online Bookings Made via a Mobile Device, in %, 2021e
- Share of Healthcare Decision-Makers who Believe that Telemedicine is One of the Health Technologies with the Highest Investment, by Currently and in 3 Years, in %, February 2021
- Top 4 Regions/Countries by Unit Shipments of Smart Devices Growth Rate, 2020-2025f
- Mobile, Smartphone, LTE, 5G Subscriptions Number, in millions, Mobile Data, in EB/Month, and Data Traffic per Smartphone, in GB/month, 2019 & 2020 & 2025f
- Number of The Installed IoT Connections, by Type of Market, in billions, 2030f
- Number of IoT Connections, in billions, and Year-on-Year Change, in %, 2016-2023f
- Number of SVOD Subscriptions, by Country, in thousands, 2019 & 2020e & 2025f
- SVOD Revenue, in USD million, 2019 & 2020e & 2025f
4. Sales & Shares
- B2C E-Commerce Sales Value, in USD trillion, and Year-on-Year Change, in %, 2019-2024f
- B2C E-Commerce Sales Value, in CNY trillion, and Year-on-Year Change, in %, 2015-2020
- B2C E-Commerce Sales Value, in CNY trillion, H1 2019, H1 2020 & H1 2021
- Retail E-Commerce Sales, in USD billion, and % of Total Retail Sales, 2020-2025f
- Retail E-Commerce Sales in Rural Areas, in CNY billion, 2019-2020
- Shares of B2C and B2B Cross-Border E-Commerce, in % of Total Cross-Border E-Commerce, 2016 -2025f
- B2B Cross-Border E-Commerce Export Goods Market Size, in CNY trillion, and Year-on-Year Change, in %, 2016-2025f
- Investment Priorities of B2B Organizations by 2023, in % of Commerce Leaders, August 2020
5. Internet Users & Online Shoppers
- Number of Internet Users, in millions, and Penetration, in % of Population, 2017-2020
- Breakdown of Total Population and Internet Users by Urban and Rural, in %, 2020
- Number of Online Shoppers, in millions, and Penetration, in % of Internet Users, 2017-2020
- Change in Frequency of Shopping Online, in % of Respondents Aged 20+, 2020
- Breakdown of B2C E-Commerce Sales, by Product Category, in %, H1 2021
- Change in Online Shopping in the Previous 6 Months, by Product Category, in % of Adult Consumers, March 2021
- Fresh Food E-Commerce Sales, in CNY billion, and Year-on-Year Change, in %, 2018-2023f
- Change in Frequency of Shopping Food Online, in % of Respondents Aged 20+, 2020
- Digital Medication Services Preferred, in % of Consumers, January 2021
- Number of Online Payment Users, in millions, and Share, in % of Population, December 2016-December 2018, March 2020 & December 2020
- Third-Party Online Payments Value, in CNY trillion, and Year-on-Year Change, in %, 2016-2025f
- Third-Party Mobile Payments Value, in CNY trillion, and Year-on-Year Change, in %, 2016-2025f
- Number of Mobile Payment Users, in millions, and Share, in % of Mobile Internet Users, December 2016-December 2018, March 2020 & December 2020
- Number of Real-Time Payment Transactions, in billions, 2020 & 2025f
- Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
- Overview of Consumers’ and Travelers' Payment Patterns, April 2021
- Breakdown of B2B Payments, by On-Time, Late, and Written-Offs, in %, Q2 2021
- Breakdown of Payment Methods, in % of Transaction Volume, 2020 & 2025f
- Number of Express Delivery Parcels, in billions, and Year-on-Year Change, in %, 2016-2020
- Top 6 Companies by Share of Retail E-Commerce Sales, in %, 2021
- Top 6 Companies, by B2C E-Commerce Sales Value, in USD billion, and Y-o-Y Change, in %, 2019-2022f
- Overview of Select B2B E-Commerce Marketplaces and Classifieds, June 2021
- B2B E-Commerce Marketplace Profile, 2021
- Top 10 Online Marketplaces, incl. Type, Region/Country, Monthly Visits, in millions, April 2021
- Largest Online Marketplaces, By Number of Monthly Visitors, in millions, Q2 2021
A selection of companies mentioned in this report includes:
- Afterpay Limited
- Alibaba Group Holding Ltd.
- Hello Group Inc.
- iD Holdings Corporation
- JD.com Inc.
- LazyPay Private Limited
- LINE Pay Corporation
- Naver Pay
- PayPal Holdings Inc.
- Pinduoduo Inc.
- RakutenEdy Inc.
- Suica Mobile
- Tenpay Payment Technology Co.