Mobile ecommerce is projected to dramatically impact the Chinese economy as the decade rolls on, industry analysts estimate in a new report.
According to IDC’s Top 10 Predictions for Chinese Internet industry, mobile ecommerce “will become the focus of competition in Chinese e-commerce market in 2014,” as the number of mobile Internet users and mobile e-commerce transactions increases rapidly.
The “Double Eleven” online shopping festival in 2013 not only reported record Internet retail sales, but also sounded the clarion call of China’s Mobile e-commerce: A quarter of the RMB 35 billion transactions were completed via mobile terminals such as mobile phones or tablet PCs, and users’ receptiveness to mobile e-commerce providers had significantly improved compared to the approximately 10% mobile terminal transactions at the beginning of the year.
Based on IDC’s corresponding prediction, the scale of the Chinese mobile ecommerce market will climb 67.9% compared to 2013 and far exceeding the 28% average growth of Internet retail market for the same period.
“The development of mobile ecommerce market will not be a simple migration from PCs to mobile terminals; it will be an individual-consumer-centric reconstruction of industrial models,” says Jialin Jiang, a Senior Market Analyst with IDC.