Many analysts believe the total online spending of Chinese consumers will soon surpass that of the US, to become the biggest online market in the world.
Christmas may not be a traditional Chinese festival. But sparkling decorations, gifts and best wishes are always welcome, anywhere.
China’s high streets are certainly bustling with festive cheer. But a growing number of gift-hungry shoppers say more choices are available online.
Beijing resident Zhang Wei is one of them. Zhang Wei said, "I do most of my gift shopping online. It’s the best option as I can compare products from different sellers and look for the best price."
Online shopping is booming in China. A recent report by the Boston Consulting Group predicts China’s 329 million on-line shoppers will spend more than 314 billion US dollars in 2015 -- knocking the US off its perch as the world’s largest online retail market.
The promise of riches is drawing many into switching careers, to enter the lucrative market.
Former Goldman Sachs employee and Stanford Business School graduate, Dong Lu, launched lingerie firm La Miu in 2008. It’s now the market leader, and Dong says his success has come from the rapid development of online commerce in China.
Dong Lu said, "First, the number of web users in China is growing fast. That’s where my customers come from. Second, online prices are lower. Good quality and great prices -- that’s what people love."
Special web promotions can be massively popular. China’s market leader in online commerce, Taobao, launched a special event to mark this year’s Singles Day on November 11th, with many retailers offering 50 percent discounts.
Total turnover on the day reached a staggering 817 million US dollars. Dong Lu says he’s expecting several sales booms over the coming two months, as customers rush to celebrate both Chinese and international festivals.
Dong Lu said, "Chinese people never used to care much about foreign festivals. But now they have become occasions for young people to party and enjoy. I’m expecting the upcoming Christmas and Valentine’s Day to drive up sales significantly."
Apart from Christmas, Chinese New year falls in January 2012 - earlier than usual. It’s going to be a busy few months for China’s online retailers, and the millions of online shoppers looking to get their hands on a bargain.
(XINHUANET/CNTV.cn)
[Editor：李丹一]
