An RBC Capital Markets annual survey tracking the trends in China’s online retail market shows that over three quarters of consumers rank Alibaba sites Tmall and Taobao as the number one and number two sites they most commonly use for online shopping, with JD.com ranked in third place and Amazon ranked in fourth place. Lower prices, better selections, convenience and security were among the top reasons cited by Chinese consumers for Alibaba’s enduring popularity. In alignment with eMarketer forecasts that China will account for over 50% of global online retail sales by 2018, RBC suggests that 80% of Chinese consumers now shop online at least 2-3 times per month, and 90% plan to continue spending at least as much in the next 12 months as they have this year. This means the pressure for Amazon to become more competitive in order to maximise on China’s middle class consumption boom is only set to increase in the forthcoming years.
An RBC Capital Markets annual survey tracking the trends in China’s online retail market shows that over three quarters of consumers rank Alibaba sites Tmall and Taobao as the number one and number two sites they most commonly use for online shopping, with JD.com ranked in third place and Amazon ranked in fourth place. Lower prices, better selections, convenience and security were among the top reasons cited by Chinese consumers for Alibaba’s enduring popularity. In alignment with eMarketer forecasts that China will account for over 50% of global online retail sales by 2018, RBC suggests that 90% of Chinese consumers now shop online at least 2-3 times per month, and 80% plan to continue spending at least as much in the next 12 months as they have this year. This means the pressure for Amazon to become more competitive in order to maximise on China’s middle class consumption boom is only set to increase in the forthcoming years.