China eCommerce Market
The one trillion USD eCommerce market which keeps growing
Home to 1.4 billion people, fuelled by growing prosperity and a high percentage of banked population, Chinese eCommerce continues to expand rapidly by 27% a year.
Market Overview China
Large banked population with 79% of Chinese having a bank account. Due to the regulatory environment, cross-border eCommerce is practically nonexistent, with 96% of eCommerce purchases conducted on domestic websites.
China projects an eCommerce market growth of 23% by 2021. The market is mainly based on eWallet payments.
Chinese online shoppers most commonly use eWallets to pay for goods and services. The most popular categories are clothing, travel, and food.
Mobile is the device of preference among Chinese consumers accounting for 32% of total retail spend and more than 50% of the online spend.
China's eCommerce payment mix
Improve your payment acceptance by offering local payment methods in China
Gain insight into China's most relevant payment methods
Local payment methods are essential to boost your sales in China
Online bank transfers
With brands like ICBC and Bank of China, bank transfers account almost 10% of the eCommerce sales.
Credit & Debit Cards
Local credit and debit cards, like UnionPay, account more than 25% of the total eCommerce sales.
