China's E-commerce Market Forecast To Keep Growing At Full Throttle, Analysts Say

Although China's economic growth has slowed down to about 7 percent, the country's more than 300 million online shoppers are driving growth in its e-commerce market. China's online retail market is forecast to reach $713 billion by 2017, a growth of 142 percent compared with 2013. Data from market research firm Nielsen revealed online sales of consumer packaged goods grew 44.8 percent through May 2014, accounting for 19.6 percent of total sales in 11 major CPG categories. While online commerce is growing, the Chinese consumer is increasingly adopting mobile phones as preferred platform for online shopping, with 57 percent choosing to do so in 2014.