China E-commerce Current Situation
May 13, 2017
CHINA’S E-COMMERCE MARKET
The statistics speak for themselves; online retail sales in China reached 5.16 trillion yuan ($752 billion) in 2016, representing a 26.2% growth from 2015—more than double the growth rate of overall retail sales according to China’s National Bureau of Statistics.
This report guaranteed that China’s e-commercial sector would further it’s lead over the US with the growth rate in the orient now four times that seen in the US.
Now is thus the time to enter this market. Firstly brands must understand the best practices and trends that are shaping how you must tailor your approach in-order-to capture your slice of the pie.
SHOPPING EXPERIENCE MORE IMPORTANT THAN PRICING
According to a recent Kantar Retail study, Chinese consumers’ primary motivation for shopping online has moved from “price, assortment and convenience” to “quality, value, service & experience”. Chinese consumers are looking for a richer ‘top-of-the-funnel experience, and this user experience trend will definitely flow out of China.
This heightens the importance of developing a quality consumer shopping funnel with a smooth, intuitive shopping experience rated the most important factor in China. You have on average 6-8 seconds to retain an online customer, the page must be built with the Chinese end consumer in mind with an emphasis placed on product presentation, selection, page design, navigation and call to action.