Day Headlines in Shopping news: 2011-11-24

  • E-commerce in China: The great leap online (The Economist Online Shopping 2011-11-24 09:17:56)
    Print sectionUK Only Article: standard articleIssue: Is this really the end?Fly Title: E-commerce in ChinaMain image: 20111126_WBC110.gifWHEN it comes to e-commerce, America is still top dog, with some 170m punters scouring for bargains on the internet. However, China is not far behind, with 145m online shoppers, and it could become the world's most valuable e-commerce market within four years.In a new report, the Boston Consulting Group (BCG) calculates that every year for the foreseeable future another 30m Chinese will go online to shop for the first time. By 2015 they will each be spending $1,000 a year—about what Americans spend online now. BCG calculates that e-commerce could rise from 3.3% of China's retail sales today to 7.4% by 2015—a jump that took a decade in America.The Chinese government has heavily subsidised the rollout of high-speed access, so internet penetration now approaches rich-country levels. That boosts e-commerce, of course. But so, too, do the shortcomings of China's costly, inefficient bricks-and-mortar ...