A letter, a word – E for… E-commerce
We often heard in Europe that e-commerce will boom in the coming years and its potential is high. China market is one more time really advances on this topic. Buying online is already well known by Chinese netizens.
To answer numerous customers’ demands, e-commerce companies start to become multinational companies that can manage suppliers, freight transportation and home delivery.
Deliverymen are every morning in front of offices to bring their latest deliveries to customers. This is usual to see colleagues go down twice a week in our building to get their new gadgets from deliveryman.
The most famous e-commerce website in China is Taobao.com but I will write about it in an other dedicated post (most probably on the letter T… ). I spent so much time on Taobao that I got many stories to share.
It represents today more than 50 % of sells in China so the rivals have tough challenges to remain alive.
The principal contenders are:
- Amazon.cn ou z.cn for electronic stuff
- Dangdang.com for books lovers
- Jindong (previously 360buy.com) for high-tech products
- Qunar.com for travels
- Vancl for clothes
All these sites only support Chinese and focus on local market. Some of them put in place specific offers that allow them to be real Taobao contestants. For example, Jindong (ex 360buy) pretends in major cities to deliver any package before 11am one day after if you order before 11am. Tested and approved when I bought my new hard drive disk, impressive!
240 millions persons buy online this year in China. This is clearly the first market in the World. I read recently a study that 400 millions Yuans have been spent online in Q2 2013 (only in one quarter, 3 months…)
Moreover, number of netizens is increasing exponentially with the fast improvement in standard of living; more and more people will be able to buy online in the coming years so I am confident that those companies will have a bright future.