China's online retail sales to reach $1.6 trillion in five years: report
Updated: 2015-11-10 09:32
(Xinhua)
|
|||||||||
Staff at Tmall, an e-retail platform under Alibaba Group, put in extra hours for the upcoming sales rush of Singles Day in Hangzhou, Nov 10. [Photo/IC] |
SHANGHAI - China's online retail sales are expected to rise to 10 trillion yuan ($1.6 trillion) in 2020 with the penetration rate doubling from the 2014 level to 22 percent, according to a report unveiled on Monday by Bain&Company and Alibaba.
Business to customer, mobile Internet commerce and trans-border Internet commerce will be the main growth engines, the report said.
The report said Chinese consumers' awareness of brands has been growing in the last several years.
Ding Jie, a partner at Bain&Company, said Internet commerce helped the brands accommodate segmented demands and reach the market in third and four-tier Chinese cities.
In this transformation, companies should build digitalized operation models and understand digitalization's impact on research and development, supply chain and sales, Han Weiwen, a partner at Bain&Company said.
- Internet celebrities share spotlight with leaders and stars
- Heavy smog hits Beijing
- Eleven-year-old girl donates organs to save six people
- Top ballet dancers light up Beijing
- Top 10 wealthiest Chinese on Forbes rich list
- Obama launches Facebook page, sends message on climate
- Washington 'showing anxiety in stance adopted toward Beijing'
- Tug of war
Most Viewed
Editor's Picks
8 highlights about V-day Parade |
Glimpses of Tibet: Plateaus, people and faith |
Chinese entrepreneurs remain optimistic despite economic downfall |
50th anniversary of Tibet autonomous region |
Tianjin explosions: Deaths, destruction and bravery |
Cinemas enjoy strong first half |
Today's Top News
Washington 'showing anxiety in stance adopted toward Beijing'
Obama, Netanyahu at White House seek to mend US-Israel ties
China, not Canada, is top US trade partner
Tu first Chinese to win Nobel Prize in Medicine
Huntsman says Sino-US relationship needs common goals
Xi pledges $2 billion to help developing countries
Young people from US look forward to Xi's state visit: Survey
US to accept more refugees than planned
US Weekly
Geared to go |
The place to be |