It’s official. Online shopping breaking news reveals that for the first time ever, mobile gross merchandise volume (GMV) exceeded goods bought by personal computer in China. This means the total sales value of mobile shopping from April to June 2015 using smartphones was the higher of the two at 50.8%. That is some tipping point to reach for shopping on the internet!
Power Surge by Mobile Urged Online Shopping Record
Mobile World Live reports that mobile shopping in China grew a phenomenal 133% in 2015 Quarter 2 compared to the same three months in 2014. This suggests that:
- The superiority of mobile is a fait accompli among China’s emerging middle class and cannot be reversed
- The current economic downtown is propelling it into hunting bargains on the internet no matter where they are
In Q2, China mobile gross merchandise volume touched Yuan 443.5 billion ($69.3 billion US). This amount exceeds the GDP’s of Luxembourg, Dominican Republic, and Burma in 2014 as measured by the International Monetary Fund.
Trends in China Mobile Shopping Purchases
The green bars in the graphic reveal that online shopping using mobiles fell back after the year-end surge, but regained momentum in Q2 of 2015 despite significant falls in stock value, and the exchange rate of the Yuan. However the growth rate of the shopping medium continued to taper off, which is a significant indicator that the Chinese economy has indeed been stuttering throughout the review period.
Alibaba retained its market dominance controlled by the man who famously told the Stanford University Graduate School of Business, “The China economy is not that bad” on September 25, 2015. His company held onto an 83% share of mobile internet shopping in Q2 of 2015, with JD and Vipshop lagging with 6.1% and 2.5% respectively, and with little hope of seemingly ever closing the gap.