1.8 trillion yuan changed hands in 3 months of Chinese e-commerce
Last week Deutsche Bank sent out an email summarizing some numbers about the Chinese Internet from iResearch, a firm that regularly releases stats and information about the Internet economy. Here are some of the numbers from iResearch:
• The growth rate of the Chinese internet economy in the first quarter of 2012 was 68.5%;
• Online video revenues for the same period grew to 1.8 billion yuan (79% year on year growth) • The mobile internet economy grew 167% year on year to 15.9 billion yuan, driven by mobile ads and games;
• The online advertising market expanded 58% year on year to 14.1 billion yuan (but was down 14% quarter on quarter)
• The top four B2C sites are Taobao (52% market share), 360buy (23%), Amazon (4%), and QQbuy / QQ mall, Tencent’s B2C platform (3%).
To this observer, the number that stood out was this: China’s e-commerce market transaction volume totaled 1.8 trillion yuan in the first quarter of 2012. That number would scare me if I was in the business of building shopping malls.
Links and sources
Globe and Mail: It’s bricks v. clicks as China’s retail war intensifies