You can only download this statistic as a Premium user. We forecast that retail ecommerce sales will maintain strong growth through the end of our forecast in 2023. ", Hurun Research Institute, Value of leading e-commerce companies in China in 2020 (in billion yuan) Statista, https://www.statista.com/statistics/1134335/china-most-valuable-ecommerce-companies/ (last visited December 08, 2020), Value of leading e-commerce companies in China in 2020, E-commerce revenue in China 2017-2024, by segment, E-commerce share of retail sales in China 2014-2019, Total e-commerce trade volume growth rate in China 2008-2019, Breakdown of e-commerce transaction value in China 2019, by type of e-commerce, Number of employees in the e-commerce segment China 2012-2018, by type, Listed companies in e-commerce China 2019, by category, Most valuable e-commerce companies in China 2020, Transaction volume of B2B e-commerce in China 2012-2019, Annual change of transaction value of B2B e-commerce in China 2011-2019, Revenue of China's B2B e-commerce market 2012-2018, SME B2B e-commerce platforms revenue in China Q2 2018-Q2 2020, Distribution of online retail sales China Q1 2018-Q2 2020, by e-commerce type, Online retail sales value in China 2019, by region, Online retail sales in goods value in China 2019, by region, Online shopping market share in China Q1 2018-Q2 2020, by device, B2C online retail market platforms' transaction share in China Q3 2020, GMV of China's import e-commerce market 2013-2021, Market size of social e-commerce industry in China 2014-2020, Transaction value of second-hand e-commerce in China 2015-2020, Local life service O2O market GMV e-commerce in China 2015-2019, Fresh food e-commerce GMV in China 2013-2019, Market value of live commerce in China 2017-2020, Number of China's mobile e-commerce users 2016-2020, Age group distribution of internet shoppers in China 2019, Ranking of ecommerce companies in Spain 2019, by revenue, Total and e-commerce U.S. retail trade sales 2000-2018, Share of e-commerce sales in total U.S. retail sales 2010-2020, Quarterly U.S. e-commerce retail sales 2009-2020, Global e-commerce market share of leading e-retailers 2019, U.S. holiday season retail e-commerce revenue 2014-2020, E-commerce revenue forecast in Poland 2017-2024, Leading e-commerce sectors by revenue in Spain Q4 2019, United States: retail e-commerce sales 2017-2024, Total retail and e-commerce sales in the United States 2018, by business, E-commerce value of U.S. apparel wholesale merchant trade 2006-2018, E-commerce sales of U.S. electronic shopping and mail-order houses 2018, Total and e-commerce U.S. merchant wholesale trade sales via MSBOs 2006-2018, E-commerce value of U.S. furniture wholesale merchant trade 2007-2018, E-commerce value of U.S. nondurable goods wholesale merchant trade 2007-2018, Quarterly U.S. desktop retail e-commerce spending 2007-2020, United States: retail e-commerce sales 2014-2024, U.S. holiday season e-commerce sales growth 2013-2020, Canada monthly e-commerce retail sales 2016-2020, Import cross-border B2C e-commerce platforms' market share in China Q3 2020, Contribution of e-commerce to GDP of Malaysia 2015-2019, Value of leading e-commerce companies in China in 2020 (in billion yuan), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, generated more than 20 billion yuan from its new initiatives segment. e-commerce transactions between China and other countries increased 32% to 2.3 trillion yuan ($375.8 billion) in 2012 and accounted for 9.6% of China's total international trade. Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company.Founded in 1998, its subsidiaries globally market various Internet-related services and products, including in entertainment, artificial intelligence, and other technology. That’s considerably weaker than 2016’s growth rate of 10.4% and is a continuation of a slowdown that started in 2018. With the quarantine of Wuhan, China, and more than a dozen other cities in a region known as a manufacturing hub, more than 45 days of manufacturing have been lost to date. China: Revenue in the eCommerce market is projected to reach US$1,117,204m in 2020. As soon as this statistic is updated, you will immediately be notified via e-mail. With over $1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. Growth of retail sales in China is declining, due to economic and geopolitical challenges, and will not overtake the US until 2021. Pinduoduo’s three-year rise to become the number three e-commerce platform in China has stunned industry insiders and forced incumbents Alibaba and JD.com to … 2 Analysis on Used Car E-Commerce Industry in China, 2011-2015 3 Competition Status of Used Car E-Commerce Industry in China, 2013-2015 4 Top 5 Used Car E-Commerce Enterprises in China, 2013-2015 This feature is limited to our corporate solutions. A paid subscription is required for full access. In 2013, Alibaba had an e-commerce market share of 80% in China. JD.com has a 16.7% share, while upstart Pinduoduo will grow much faster than any other site in the top 10. Digital commerce players continue to innovate and recalibrate. Guanghua School of Management, Peking University, Vice President, China/APAC and Global Ecommerce Practices, Cross-Border Retail Ecommerce Buyers in China, 2017-2022 (millions, % change and % of digital buyers), Product Categories in Which Cross-Border Digital Buyers in China Make Cross-Border Digital Purchases, Jan 2019 (% of respondents), Average Spending per Consumer in China, by Product/Service Category, 2017 & 2018 (Chinese yuan renminbi and % change), Retail Sales Share of Tier 3 Cities and Below in China, 2013-2018 (% of total retail sales), Mcommerce App User Share in China, by City Tier and Platform, Nov 2018 (% of total), Leading Product Categories that Urban Social Commerce Digital Buyers in China Have Purchased in the Past Year, Oct 2018 (% of respondents), Urban Internet Users in China Who Purchase Select Product Categories via Social Commerce Platforms, by Gender, Oct 2018 (% of respondents in each group), JPMorgan saw a surge in card payments over Black Friday weekend, Amazon Advertising sees lower spending growth on Black Friday compared with 2019, Kroger breaks into top 10 US ecommerce companies, Walgreens is the latest retailer to launch a media network in a bid for ecommerce channel ad spend. Second, the focus is mainly on exports, which is expected to continue the rapid development trend. In 2013, it overtook the US to emerge as the largest e-commerce market. Meanwhile, consumers continue to blur the boundaries between online and physical channels. The ideal entry-level account for individual users. E-commerce boom in China has led to the rapid growth of the local footwear industry but also contributes to rising costs of production elements. According to The NPD Group, e-commerce sales in China reached $710 million in August, up 61 percent year-over-year. Digital buyer penetration and demographics. Statista. As a Premium user you get access to the detailed source references and background information about this statistic. Then you can access your favorite statistics via the star in the header. Can it take on Netflix? Chart. While retail sales in China sputter in the face of economic and geopolitical challenges, ecommerce continues to thrive. In 2019, the total trade volume of the retail e-commerce market of China reached 10.32 trillion yuan, up from 8.56 trillion yuan in 2018. The ripple effect this has across the global supply chain is becoming more apparent as companies are being forced to halt production of finished goods due to lack of necessary parts provided by the quarantined region. The second-largest ecommerce market in the world is the U.S with $586.9 billion. For ecommerce, China’s dominance means that 62.6% of all digital sales will take place in Asia-Pacific. Then you will be able to mark statistics as favourites and use personal statistics alerts. Where do US consumers begin their product searches? How much will consumers in China spend on retail ecommerce in 2019? What’s Shaping Ecommerce in China in 2019? Most valuable e-commerce companies in China 2020 Published by Yihan Ma, Nov 6, 2020 In 2020, Alibaba remained the most valuable e-commerce company in China… Value of leading e-commerce companies in China in 2020 (in billion yuan) [Graph]. But retail ecommerce has continued to flourish in some surprising ways under these current circumstances. You only have access to basic statistics. China is one of the largest e-commerce markets and adopters of digital technologies in the world. With 16.1% of all retail sales expected to … "Value of Leading E-commerce Companies in China in 2020 (in Billion Yuan). Directly accessible data for 170 industries from 50 countries Alibaba is the undisputed leader in 2019, taking in 55.9% of retail ecommerce sales. Please create an employee account to be able to mark statistics as favorites. Hurun Research Institute. China's Richest. The law is a framework for regulating China’s rapidly growing ecommerce market. Please authenticate by going to "My account" → "Administration". For instance, Amazon would be is the world`s most successful Company in the field of Electric Online business. WHAT’S IN THIS REPORT? In rural areas and smaller cities, GDP is growing much faster than in the major city centers, and consumers there will continue to drive growth. Learn more about how Statista can support your business. There are 4 main ecommerce sales channels (Your Website, Online Marketplace, Social Media, 3rd Party In-Country Distributor), consider the mix of available sales channels when planning your eCommerce strategy. New, Figures and insights about the advertising and media world, Industry Outlook In 2019, the added value of the digital economy accounted for more than one-third of … By 2023, retail ecommerce sales will represent 63.9% of total retail sales. Vipshop Holdings has a unique business model given its first mover advantage in the discount retailing industry, and is likely to benefit from the e-commerce boom in China. China, today, is characterised by mobile-first consumer behaviour, vibrant social commerce adoption, and a ubiquitous digital payments infrastructure. Asia-Pacific will account for 42.3% of retail sales worldwide, North America will capture 22.9%, and Western Europe will make up 16.2%. The emergence of China's e-commerce market inaugurated a new era of the country’s economy. This supply scarcity is resulting in product availability challenges for retailers across industries—from auto m… In addition, the market is fiercely competitive. The giant discount retailer reported Tuesday that net e-commerce sales in China grew 104% from a year ago in the three months ended July 31. Not only is China’s e-commerce market the largest in Asia, it’s also the biggest globally 2, and growing at a rapid rate. India's Richest ... in-store appeal for consumers and move into the world of e-commerce with an effective omnichannel strategy that offers a … You need at least a Single Account to use this feature. In, Hurun Research Institute. Disney+ has become a household name after 1 year. facts. Register in seconds and access exclusive features. Listed companies’ value was calculated from the closing price on June 30, 2020, non-listed companies’ value was taken from the most recent valuation. Please contact us to get started with full access to dossiers, forecasts, studies and international data. PPP SMALL BUSINESS LOANS [SECOND ROUND UPDATE]: How $525 billion in coronavirus-linked loans were ... 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China’s three largest e-commerce platforms Alibaba ($BABA), JD.com ($JD) and Pinduoduo ($PDD) have all released their earning results for … 21 China’s internet penetration stands at 54.6 percent, 22 a figure that suggests there are still plenty of as-yet-untapped potential customers for the e-commerce industry to court. Which are the top retail ecommerce sites by sales in China? Update, Insights into the world's most important technology markets, Advertising & Media Outlook July 10, 2020. While digital buyer penetration is reaching saturation among younger demographics, it still has room to grow among consumers over 35. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from. "Value of leading e-commerce companies in China in 2020 (in billion yuan)." At present, it accounts for 23.1 percent of overall retail spend. By 2023, retail ecommerce sales will represent 63.9% of … E-commerce development in China China's e-commerce industry … Estimates are included for the following areas: Exportable files for easy reading, analysis and sharing. The e-commerce landscape in China is evolving rapidly as millions of consumers enter the middle class and local brands are proving to be increasingly capable … Retail sales in China will grow 3.5% to $5.291 trillion this year. In 2019, overall e-commerce transactions exceeded 34.8 trillion yuan, increasing from around 31.6 trillion yuan the year before. Three of the six largest ecommerce markets are in Western Europe. 64% – e-commerce’s expected share of China’s total retail sales in 2023 3 560m – the number of digital buyers in China in 2018, with this set to rise to 634m in 2020 2 China enjoyed a sizable uptick in sales, rising from just 2 percent year-on-year growth in 2016 to 8.3 percent in 2017. This report features our latest forecasts for retail sales, retail ecommerce, social commerce, mcommerce, digital buyers and the top ecommerce sites in China. Cyber Five promotional period spending will grow substantially this year, Ecommerce will dominate early holiday sales as pandemic drives online shopping adoption, UK retailer returns strategies will be tested this holiday season, How Prime Day went, and how holiday shopping will go, How Kellogg’s is keeping up with accelerated demand, Uptick in coronavirus cases and stringent measures threaten US recovery. The ratio of effort spent on channels may varies depending upon the industry… China’s cross-border e-commerce industry currently has three key characteristics. Please do not hesitate to contact me. As a Premium user you get access to background information and details about the release of this statistic. Skin care was the best-performing category. Profit from additional features by authenticating your Admin account. … [50] We forecast that growth will not see a rebound until 2021. For apparel, China’s largest e-commerce category, 85 percent of … North America and Western Europe are … KEY STAT: China’s retail ecommerce sales in 2019 will grow much faster than total retail, increasing 27.3% year over year to $1.935 trillion. One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of July 2020). How much will retail sales in China grow in 2019? China’s eCommerce market offers a glimpse to the future of global retailing. This growth will be fueled by an expected increase of more than 60% in the e-commerce customer base and a projected 40% or more surge in customer spending. Pursuit of low-cost spaces by entrepreneurs and provision of vacant houses by local farmers has encouraged an e-commence-induced informality. The Executive Roundtable: David Cohen of the IAB on how digital advertising is adjusting to ... 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Accessed December 08, 2020. https://www.statista.com/statistics/1134335/china-most-valuable-ecommerce-companies/, Hurun Research Institute. Number of online shoppers in China 2009-2020, B2B online platforms' market share in China 2018, Online shopping market gross merchandise volume in China 2013-2022, Penetration rate of online shopping in China 2009-2020. First, the scale of cross-border e-commerce transactions continues to expand, accounting for an increasing proportion of China import and export trade. What are the key drivers of retail ecommerce sales in China? Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook KEY STAT: China’s retail ecommerce sales in 2019 will grow much faster than total retail, increasing 27.3% year over year to $1.935 trillion. COVID has accelerated the e-commerce industry’s growth and more businesses are joining the e-commerce business revolution than ever before. The Regional Comprehensive Economic Partnership agreement, signed by 15 Asia-Pacific countries on Sunday, is a boon to the burgeoning cross-border e-commerce industry and will further optimize and integrate regional supply chains and resources, as well as improve the efficiency of cross-border logistics, industry experts said on Wednesday. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). The Cyber 5 set new US ecommerce records but still fell short of the massive expectations fueled by ... Best Buy and Target double their ecommerce sales this year, Thanksgiving and Black Friday ecommerce sales fell short of high expectations, Thanksgiving weekend online sales reach new heights but miss expectations. Growth of the country ’ s Shaping ecommerce in 2019 behaviour, vibrant social commerce adoption, and will see... 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