According to Tamebay, a new report by Forrester called ‘Ecommerce in China, Trends and Outlook for the Largest Ecommerce Market in the World’, states the value of e-commerce in China is predicted to reach $1.8tn in 2022. It means that the Chinese market will be worth twice as large as that of the United States. At the same time, it is predicted to be ten times more valuable than the Japanese market, which is predicted to be worth $713bn (USA) and $159bn (Japan) in 2022 respectively. Mobile e-commerce (m-commerce) will continue to be crucial in the Chinese market. About 76% of all online shopping will happen on mobile devices. Mobile payments will remain the most popular payment method.
Forrester claims that Alibaba and JD.com will continue to dominate the local market, accounting for more than 85% of China’s e-commerce market together, while new companies like Pinduoduo and Xiaohongshu will grow, as the social aspects of their offerings prove to be popular amongst shoppers. Further expansion is expected to happen beyond 2022, as currently only 38% of China’s 1.2bn people have started shopping online so far.