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BizReport : Ecommerce archives : July 05, 2017

China will account for half of global retail ecommerce sales in 2017

China boasts the world's largest ecommerce market and, according to a new report from eMarketer, will account for nearly half of global retail ecommerce sales in 2017.

by Helen Leggatt

China's ecommerce sales are forecast by eMarketer's latest worldwide retail forecast to exceed $1.132 trillion this year and account for 23.1% of all retail sales in the country.

By 2021, this figure is set to increase by 40.8% driven by the proliferation of mobile buying and the dominance of marketplaces such as Alibaba, and Tmall. eMarketer forecasts that more than 75% of ecommerce sales - over $1 trillion - will be transacted via a mobile device.

"Growth in online purchasing is being spurred along by a growing comfort with mobile shopping, greater spending by consumers in smaller cities, and the expansion in the variety of goods being purchased," said eMarketer senior forecasting analyst, Oscar Orozco.

China is currently the world's largest ecommerce market, larger than the US ($450.81 billion), and UK ($110.07 billion).

Worldwide retail ecommerce sales are expected to reach $2.290 trillion in 2017.

Tags: China, ecommerce, forecast, retail

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