'In China eCommerce is a way of life'
Nov 15, 2016
Chinese eCommerce has been the subject of much interest in the media this week since it was announced that Alibaba smashed its sales record for its annual Singleâ€™s Day event. The company said that sales this year had reached a staggering 121bn yuan ($18bn; Â£14bn), a rise of 32% on last year's sales which were worth $14.3bn.
There is absolutely no question that China represents significant opportunities for Western retailers. Not only does it have a colossal population of 1.3 billion, but it is also the worldâ€™s largest and fastest growing eCommerce market. And it is not just eCommerce that is booming in Chinaâ€¦Chinese consumers are also embracing cross-border eCommerce.