Market Highlights
  • Credit Suisse Group recently reported that China's GDP is continuing to grow around 9 percent a year on average and it estimated that China’s e-commerce market size—worth approximately $70 billion in 2010—will increase to $311 billion by 2015.

  • According to Goldman Sachs, e-commerce sales in China could grow 275% over five years to reach an estimated $300 billion in 2015.

  • China's retail sales—the main gauge of consumer spending—rose 18 percent to $181 billion from July 2009 to July 2010, according to the National Bureau of Statistics.

  • China is the favorite investment destination by retailers this year, replacing India, according to the Global Retail Development Index, reported global consultant firm A.T. Kearney.

  • In September 2010, Boston Consulting Group reported that five years ago a company had to be in 60 cities to reach 80% of China's middle class and in ten years, given the speed with which China's middle class is growing and sprawling, the same company will need to be in 212 cities to reach the same share of consumers.

  • In particular, China's small cities are too dispersed, according to Zelai Xu of the Central University of Finance and Economics in Beijing and Nong Zhu of the National Institute of Scientific Research in Quebec.

  • Retail sales in the country's rural areas jumped 16 percent to $589.8 billion last year, outpacing urban spending for the first time, according to China’s Ministry of Commerce.

  • China Internet Network Information Center reported that China's population of Internet users rose to 384 million in 2009—establishing the nation as the world's largest online community—and also that the number of Chinese using the Internet to carry out commerce grew by 68 percent year-over-year.

  • At the 2010 Economic Work Conference, the Chinese government stressed the need to further expand consumption demand and consumption capacity, including further stimulating consumption by extending the availability of consumer credit and enhancing the country's retail and distribution systems.

  • The Chinese government's 12th Five-Year Plan (2011-2015), details the importance of boosting the nation’s domestic consumption.

  • In a survey conducted in October 2010, Media Atlas China found that about 77 percent of respondents in Tier 1 cities strongly agree or agree that they usually think about the needs of their families when buying things.

  • From December 2009 to June 2010, Synovate surveyed 68,000 consumers across 66 cities and rural areas asking them if they agreed that they think about the needs of their families when making purchases; 68 percent of respondents in Tier 2, 77 percent in Tier 3, 83 percent Tier 4 and 80 percent in Tier 5 cities answered yes, respectively. 
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