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Online transactions jump 45% in Q2
By Ding Yining |
July 25, 2012, Wednesday
|
Online Edition
Online Edition
THE transaction volume of China's online retail market grew 45 percent from a year ago in the second quarter to 279 billion yuan (US$44.3 billion), an industry report shows.
The online shopping market size, consisting of orders put on both the business-to-consumer sites and consumer-to-consumer vendors who open their stores on platforms like Taobao Marketplace, boomed in the previous quarter due to large scale of promotions in the past few months.
The B2C market jumped 82 percent annually to 96.8 billion yuan in the three months ended June 30, Beijing-based research house Analysys International said in a report yesterday.
Last week, Tmall, the business to consumer shopping site under China's largest e-commerce company Alibaba Group, said it will offer 1 billion yuan (US$159 million) in discounts for consumers as well as subsidies for external vendors in the second half of the year to boost spending.
Business-to-consumer sites made up 35 percent of the overall online retail volume, the report showed.
Both Tmall and 360Buy, two of the leading B2C sites, launched discounts to attract customers, while home appliance retailers like Suning and Gome also joined the price war to lift online sales at a time when revenue at traditional offline stores are dwindling.
The online shopping market size, consisting of orders put on both the business-to-consumer sites and consumer-to-consumer vendors who open their stores on platforms like Taobao Marketplace, boomed in the previous quarter due to large scale of promotions in the past few months.
The B2C market jumped 82 percent annually to 96.8 billion yuan in the three months ended June 30, Beijing-based research house Analysys International said in a report yesterday.
Last week, Tmall, the business to consumer shopping site under China's largest e-commerce company Alibaba Group, said it will offer 1 billion yuan (US$159 million) in discounts for consumers as well as subsidies for external vendors in the second half of the year to boost spending.
Business-to-consumer sites made up 35 percent of the overall online retail volume, the report showed.
Both Tmall and 360Buy, two of the leading B2C sites, launched discounts to attract customers, while home appliance retailers like Suning and Gome also joined the price war to lift online sales at a time when revenue at traditional offline stores are dwindling.
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