The growth of China e-commerce can be attributed to the growing smartphone-driven m-commerce culture, innovative digital payment systems, and expanding live e-commerce platforms. The Chinese e-commerce business has expanded significantly in recent years, owing to the increased internet and smartphone penetration, increased consumer confidence in online purchasing, the introduction of e-commerce platforms, and the availability of different alternative payment solutions. Payment options for e-commerce platforms like Alipay and WeChat Pay are quickly gaining traction. While Alipay serves as the primary payment method on all of the Alibaba group's e-commerce platforms, Tencent's WeChat Pay utilizes its large social media user base to drive online payments. These payment methods are expected to gain traction as Chinese shoppers continue to embrace the online retail industry.
The COVID-19 outbreak has boosted the growth of the online retail industry in China, as worried consumers are increasingly making purchases online to avoid exposure to the disease. Although the COVID-19 epidemic reduced total consumer expenditure, it increased e-commerce transactions. While sectors such as travel and restaurant services have been impacted by the nationwide shutdown, online purchases of food and physical products have witnessed considerable growth.
Business-to-Business (B2B) and Business-to-Consumer (B2C) are two model types of the Chinese e-commerce market. Business-to-business e-commerce comprises the exchange of products and services between commercial entities. Business-to-consumer e-commerce comprises beauty and personal care, fashion and apparel, food and beverage, furniture and home, and consumer electronics. B2B electronic commerce platforms also give businesses more options for purchasing and selling goods, which lowers operating and inventory costs, which is expected to boost the growth of the segment. The growth of niche or vertical marketplaces in B2B electronic commerce is opening up new market opportunities. The vertical marketplaces provide a broad selection of goods within a given product area. Similar to this, niche markets offer value-added services like bulk discounts and a variety of payment methods.
By Model Type
Business to Business (B2B)
Business to Consumer (B2C)
Alibaba Group Holding Limited
Tencent Holdings Ltd.
Vipshop Holdings Limited
Jumei International Holding Ltd
Hello Group Inc.
Xingyin Information Technology Shanghai Ltd.
E-Commerce China Dangdang, Inc.
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