What do Chinese consumers want from e-commerce?
01 July 2015
Chinese consumers are increasingly looking for a convenient retail experience, suggesting the need for in-country retailers to invest in mobile-related technology and social media. According to Oracle’s recent survey’s Retail Without Limits – A modern commercial society, more than 95% of Chinese consumers indicated they hoped retailers would invest in digital stores, improving consumer experience and logistic services.
The survey involved 5,000 consumers globally including 500 from China, found that 49% of Chinese consumers like online shopping, compared to 34% globally. Pinning the anticipation of the e-commerce sector as a new economic growth engine, from strong fundamentals of the expanding middle class, rising disposable income and consumer preference for online shopping, the Chinese government is taking multiple measures to boost the sector’s growth.
Specifically, government measures are encouraging local businesses such as farm produce, handicraft and tourism with supports ranging from business training, to streamlining procedures, and IT facilities and infrastructure.
With respects to imported products, China’s border inspectors and customs authorities are streamlining clearance process. Cross-border sales to China have reportedly grown tenfold in the past four years to US$20 billion in 2014. China's Ministry of Commerce predicts e-commerce sales through cross-border will eventually take up one fifth of the country's total trade volume.
As the largest official imported beef and second largest imported sheepmeat supplier to China, it is important for the Australian red meat exporters to be aware of the growing importance of the online retail trends in China.
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