China on track as the biggest online market

NOT only is China set to rule the global economy, it is also forecast to become the biggest online market.

A new study by the McKinsey Global Institute predicts that by 2020 China's online retail market, or e-tail, will equal that of the US, Japan, the UK, Germany and France combined today. The country is already the world's second largest e-tail market, with revenue for 2012 estimated to be as high as $210 billion.

"The country's retail sector already is among the most wired anywhere - e-tailing commanded about 5-6% of total retail sales in 2012, compared with 5% in the United States," the study said.

The report also found that the majority of online shopping in China takes place on digital marketplaces, such as PaiPai, Taobao and Tmall.

The three largest online retail segments in China are currently apparel, recreation and education, and household products.


Ballina celebrated their young and old, the bright and bold

Premium Content Ballina celebrated their young and old, the bright and bold

The full list of Australia Day Awards for Ballina Shire 2021 has been unveiled.

Lismore’s leading lights recognised at Australia Day Awards

Premium Content Lismore’s leading lights recognised at Australia Day Awards

Six of Lismore’s best have been named in the Australia Day Awards

COVID-19: How a vaccine will roll out for us

Premium Content COVID-19: How a vaccine will roll out for us

Member for Page Kevin Hogan has shown timeline for proposed vaccine delivery as...