E-commerce trends in China and Hong Kong
Data is king, and the data coming out of Mainland China regarding consumerism is enough to make any king very happy. By 2030, household consumption in Asia and Mainland China is projected to reach US$33 trillion, compared to US$17 trillion in the U.S. Mainland tourists took 120 million trips overseas last year, and that number is forecast to exceed 200 million by 2020. A staggering 54% of Mainlanders will be middle-class by 2022, and just two years from now Chinese shoppers are expected to spend US$1.5 trillion on mobile commerce. The BIG question, of course, is how can companies make use of those heady numbers and direct some of that some of those customers to their business? Anson Bailey, Head of Consumer Markets (HK), KPMG China, and Clarence Ling, Co-Founder and Chief Development Officer, Ztore.com, divulged some surprising figures and findings on China’s connected customers to a full house at the Chamber’s roundtable luncheon today. Members can login to the Chamber’s events page to watch the full seminar and download the presentations.
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