According to an industry report, China’s B2C (Business to Customer) online sales are growing at an annual rate of 25 percent. Competition between online giants like Taobao and Jingdong is now fiercer than ever. “The essence of online shopping is that customers can buy products easily. So the competition is about: firstly, the range of products; secondly, the depth under each category of products; third, the price and user experience,” Pan Biao, vice president of YHD.
com, said. E-commerce is one of China’s fastest growing sectors.
It’s changed people’s buying habits, and even their living habits. And it’s had a huge impact on the retail industry. To make online shopping more convenient, major sites are investing heavily to build payment systems
and logistics(物流)networks.
On average, a retailer now can deliver goods to the majority of cities within 3 days, and to towns and more remote areas in the country within a week. “Competition will produce a number of good companies, making better products and services that customers need. In the field of E-commerce, we are leading the world in terms of products, services and industry development,” Liu Yinbin, associate professor with Dept of Information Management, Shanghai University, said.
Experts also say customers are increasingly making their online purchases from mobile devices, opening up vast new opportunities and competition for retailers.
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