Chinese consumers spent a whopping US$1tn on cross-border e-commerce in 2016, representing nearly 30 percent of the country’s total online transactions.
According to the China Cross-border E-commerce Index Report released during a related forum in Shanghai on Sunday, the sector, including online retailing and B2B (business to business), continued to experience strong growth last year, boasting a 32-percent rise compared to 2015, China News Service reports.
Chinese netizens born in the 1980s were the major contributors to cross-border shopping, placing 59 percent of the overall orders. They were followed by those born during the 1990s (23 percent) and 1970s (14 percent).
In contrast to regular online consumers, the typical cross-border e-commerce shopper is a little older, better educated and has a higher income, as well as a more stable personal situation. All of this means they are more willing to purchase and capable of doing so, the report noted.
Beauty products and mother and child goods are currently the most popular cross-border categories, as these commodities continue to increase in popularity among this particular group of consumers. (Source: Global Times)