Surging Spending By China’s Online Shoppers Presents A Huge Opportunity

Online spending by Chinese consumers will soar over the next five years, but marketers looking to take advantage of the trend will need an active, targeted online strategy that accounts for the unique behaviors, demands, and challenges, according to the Boston Consulting Group, which conducted a survey among 4,000 online shoppers. Two key drivers – rising personal incomes and comfort with online shopping – are fueling the projected spending increase. According to BCG, China’s 145 million e-shoppers aren’t just looking for bargains, they are searching for unique products and “an engaging online experience.” China’s e-commerce market could reach RMB 2 trillion ($315 billion) by 2015. Nearly half of China’s urban consumers – accounting for about 80 percent of the country’s GDP – will be shopping both on- and offline within the next five years.