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China's Online Retail Sales to Reach $1.6 Trillion in Five Years: Report | |
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China's online retail sales are expected to rise to 10 trillion yuan ($1.6 trillion) in 2020 with the penetration rate doubling from the 2014 level to 22 percent, according to a report unveiled on Monday by Bain&Company and Alibaba. Business to customer, mobile Internet commerce and trans-border Internet commerce will be the main growth engines, the report said. The report said Chinese consumers' awareness of brands has been growing in the last several years. Ding Jie, a partner at Bain&Company, said Internet commerce helped the brands accommodate segmented demands and reach the market in third and four-tier Chinese cities. In this transformation, companies should build digitalized operation models and understand digitalization's impact on research and development, supply chain and sales, Han Weiwen, a partner at Bain&Company said. (Xinhua News Agency November 9, 2015) |
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