by Just as in Western countries, China’s youth prefers to do most things online – especially shopping. Some 277 million of China’s 649 million Internet users are between the ages of 15 and 25, and people between the ages of 20 and 30 make up about half of the country’s online shoppers. Where are they shopping, and what are they buying? Domestic e-tailers such as Tmall and Taobao are extremely popular, but Credit Suisse also notes that young Chinese shoppers are increasingly ordering clothing, baby products, cosmetics and other goods from overseas. Counterfeit and damaged products are still a concern on some Chinese e-commerce sites, and many shoppers prefer the reliability of foreign brands. Status-conscious young people also like the fact that they can find items online that aren’t available in Chinese stores. China’s online retailers are likely to form partnerships with international brands to sell their products directly, Credit Suisse says E-commerce site JD.com already has a leg up on the competition, as it guarantees the authenticity of its products with a warranty and offers same-day and next-day delivery in more cities than its peers. Meanwhile, service-oriented e-commerce is growing fast, too. China’s youth, not terribly enthusiastic cooks, are fueling huge growth in online food delivery services. Credit Suisse expects the 2.
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Just as in Western countries, China’s youth prefers to do most things online – especially shopping. Some 277 million of China’s 649 million Internet users are between the ages of 15 and 25, and people between the ages of 20 and 30 make up about half of the country’s online shoppers. Where are they shopping, and what are they buying? Domestic e-tailers such as Tmall and Taobao are extremely popular, but Credit Suisse also notes that young Chinese shoppers are increasingly ordering clothing, baby products, cosmetics and other goods from overseas. Counterfeit and damaged products are still a concern on some Chinese e-commerce sites, and many shoppers prefer the reliability of foreign brands. Status-conscious young people also like the fact that they can find items online that aren’t available in Chinese stores. China’s online retailers are likely to form partnerships with international brands to sell their products directly, Credit Suisse says E-commerce site JD.com already has a leg up on the competition, as it guarantees the authenticity of its products with a warranty and offers same-day and next-day delivery in more cities than its peers. Meanwhile, service-oriented e-commerce is growing fast, too. China’s youth, not terribly enthusiastic cooks, are fueling huge growth in online food delivery services. Credit Suisse expects the 2.79 trillion yuan ($430 billion) market to grow 10 percent in both 2016 and 2017. Students have been the most loyal users to date, but there is room for growth among white-collar professionals as students enter the workforce and order lunch to their offices instead of their dorm rooms.