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China’s e-commerce forecasted to grow 20% annually Tuesday, 17th April 2012
E-commerce sales in China are estimated to grow 20.41 per cent annually until 2016, according to the latest research from Forrester Research Inc.
The Internet Retailer reported that Chinese e-commerce will generate USD 169.4 billion (GBP 106.15 billion) in sales this year alone.
With a population surpassing 1.3 billion, China is already the leading e-commerce market in terms of sales for Asia-Pacific, although just 40 per cent of Chinese consumers purchase goods online. Forrester predicts that this figure will grow to 58 per cent by 2016.
“China’s adoption of e-commerce surpasses that of any other market,” Forrester analyst Zia Daniell Wigder says in her “Asia Pacific Online Retail Forecast, 2011 to 2016” report. “When the U.S. online retail market was roughly the same size as China’s is today, it was growing at a fraction of the pace.”