The Chinese e-commerce market is one of the largest in the world and also one of the most special. Looking at other markets to know what is being done is one of the most common strategies among brands, but the Chinese market does not allow this type of comparison due to its complexity.
This market is almost 2.5 times larger than the US e-commerce market and in 2020 it reached total revenues of more than 1.3 trillion dollars according to Statista Digital Market Outlook. Another of the great characteristics that the Chinese market has are its buyers, since they tend to have quite defined characteristics unlike the Americans. Some features are:
- Chinese ecommerce customers are quite young – 73% are 44 or younger, while in the United States this group is only 62%.
- Adoption of online payment services: An incredible 82% of the Chinese population has used online payment services at least once in 2020.
EcommmerceDB He has looked with a magnifying glass which are some of the characteristics that stand out the most and have discovered very interesting characteristics such as that men are the main online buyers (53% of people who buy online in China are men), but they do not gain in frequency. When it comes to shopping frequency or recurrence, women are first on the list.
On the other hand, Rakuten Insights in May 2020 conducted a survey where it observed that 8% of the respondents stated that they made purchases online on a daily basis. 30% shop online three to six times a week and another 32% shop online once or twice a week. This makes it a total of 70% of Chinese women who shop online at least once a weekThis does not mean that men do not make frequent purchases (in their case they are 66%).
When the questions focus on the reasons why Chinese consumers shop online, the differences between men and women are less pronounced. The two groups value above all the Cheaper price and home delivery.