China's Online Market Forecast To Overtake U.S. E-commerce In 2013, Report Says

China’s ecommerce market is forecast to overtake that of the United States in 2013, according to management consulting firm Bain and Co. Data from the company’s latest report showed China’s online retail segment has grown an average rate of 71 percent from 2009 to 2012, compared with 13 percent in America. Its total size is forecast to reach 3.3 trillion yuan, or $539.07 billion, by 2015. Total spending by Chinese consumers on online shopping reached $212.4 billion in 2012, compared with $228.7 billion in the United States. Chinese companies, including Haier Electronics Group and Suning Commerce Group, have seen their online sales grow faster than conventional sales.