February 10th, 2015
With a population of about 1.3 billion and an emerging middle class, China is the largest market in the world.
In the past few decades, it has emerged as a global economic powerhouse. In fact, its population may be the very reason why China alone will exceed $1 trillion in retail e-commerce sales in 2018. By comparison, global e-commerce sales in 2014 totaled about $1.3 trillion — and by 2018, United States retail e-commerce sales will only be around $500 billion.
Although Internet access in China is reported as widely censored and monitored by the state, 645 million people in China regularly access the Internet. The US has approximately 253 million users, India has 215.6 million and Brazil has 107.7 million, making China far and away also the largest e-commerce market in the world.
So what is your business doing about it?