(Yicai Global) Dec. 9 -- China has the highest e-commerce market penetration among all the major economies in the world, twice as big as North America’s in second place, a study conducted by CBNData, a leading institute for Big Data research and analysis, found.
The total volume of the Chinese e-commerce market is projected to be CNY5.2 trillion (USD753.6 billion) by the end of this year, accounting for 47 percent of the global total, the CBNData report on the online consumer goods ecosystem said.
The e-commerce market made up 15.9 percent of the total retail sales across China.
There has been a growing trend toward high-end and global brands among online shoppers in China. E-commerce shoppers have become increasingly demanding of the quality of goods bought online and consumer spending on imported products increased this year.
Many international brands opened online outlets in China, offering more options to Chinese people looking for imported products on e-commerce platforms.
CBNData is an affiliate company of Yicai Global.