E-commerce in China is taking off at a speed that many did not realize was possible. The latest report from Alibaba, who consulted with Accenture, has made a prediction that is more than good news for the e-commerce platforms on the market. According to this new report:
Earnings from e-commerce will increase tenfold within the next five years
These statistics are coming just in time, as the Canadian government just signed an agreement with Yihaodian.com to sell around 500 types of Canadian food online. Among those foods that are going to be offered include lobster, fresh meat and canola oil.
It is the types of deals that are being seen above, which has Alibaba and Accenture predicted such as good turnout in the next 5 years. More and more Chinese citizens are importing foods from these online retailers. Not only are they concerned about the quality of domestically produced foods, but they like having an option of foods that are not available within China. The Produce Marketing Association has reported that the importing of avocados into China has increased by 400% in the past 3 years, while the imports of limes and lemons have increased by 300%.
In addition to people wanting more selection of imported foods, the Chinese government is making it easier than ever for these imports to get into the country. The process of importing goods into the country is expected to get easier as time goes on, as the government has said they are looking at cutting taxes and tariffs, as well as making customs easier to get through.
So what does this increase in e-commerce within China mean for other countries? It gives other countries the chance to cash in on this huge shopping boom. Alibaba’s founder Jack Ma has ensured that Alibaba will reach out globally to those who want to sell in China. Even offering that small farmers in the United States have a place within their e-commerce platform to sell goods and products.
The main reason for e-commerce becoming more popular within China is the ability to offer products that are not found on store shelves in the area. Chinese consumers are wanting the best of the best when it comes to what they spend their hard earned money on, and e-commerce platforms give them the option to find what they want.