The Rise of E-Commerce in China
Posted 10-04-2008 at 10:25 PM by Kerry Finch
Many E-commerce observers in China are eating their words these days what with the uptrend in Chinese online spending. Ironically, trading on the Internet has been met with a lot of skepticism in a country that is known for shrewd and hardworking businessmen.
Consider the demographics in China where the average Internet user is young, rich and eager to learn new things. Perhaps, the skeptics had their misgivings about e-commerce precisely because they belong to an older group that does not share the kind of passion for anything online that the younger generation has. They claim that much of the delay in the uptake of e-commerce has something to do with low levels of trust and the fear of fraud. Initially, such wariness may deter a newcomer from parting with money to a total stranger without a face in some website. But all it takes is one successful transaction and an Internet user can get hooked.
Indeed, recent data cited from a report of the Research Institute Data Center of China Internet show that online sales for the first six months of this year has reached 37.5 billion US dollars, a definite 58% increase over the same period in the previous year. The forecast for online sales figures are very positive as more Internet users are expected to spend online and current spenders will find more things to buy online.
The phenomenal rise of E-commerce in China indicates that more people are shedding their apprehensions about the security of online transactions. No longer just a matter of speculation, Chinese E-commerce has definitely taken off.
My ebook Chinese eWhispers, now a WSO, is full of sold facts, figures and opportunites regarding the Chinese internet population.
Consider the demographics in China where the average Internet user is young, rich and eager to learn new things. Perhaps, the skeptics had their misgivings about e-commerce precisely because they belong to an older group that does not share the kind of passion for anything online that the younger generation has. They claim that much of the delay in the uptake of e-commerce has something to do with low levels of trust and the fear of fraud. Initially, such wariness may deter a newcomer from parting with money to a total stranger without a face in some website. But all it takes is one successful transaction and an Internet user can get hooked.
Indeed, recent data cited from a report of the Research Institute Data Center of China Internet show that online sales for the first six months of this year has reached 37.5 billion US dollars, a definite 58% increase over the same period in the previous year. The forecast for online sales figures are very positive as more Internet users are expected to spend online and current spenders will find more things to buy online.
The phenomenal rise of E-commerce in China indicates that more people are shedding their apprehensions about the security of online transactions. No longer just a matter of speculation, Chinese E-commerce has definitely taken off.
My ebook Chinese eWhispers, now a WSO, is full of sold facts, figures and opportunites regarding the Chinese internet population.
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