Chinese e-commerce is ripe for both global brands and digital suppliers from Europe, according to Kate Kui, vice president of China’s largest B2C e-retail platform, JD.com.
Speaking at Dmexco in Cologne, Kui said that following a 10-year journey, in which China once envied the speed at which Western societies had evolved online payment convenience, delivery systems and the scope of available e-commerce, China now has all the digital elements in place and is seeing 65% year-on-year growth in the online shopping market.
She said: “There are no political or any other barriers to entry for brands and digital suppliers to the Chinese e-commerce market. We see e-commerce as a global industry, we all speak a global language and with platforms such as WeChat providing access to more than 500 million users, China has huge online traffic.”
JD.com currently has over 600 million users and sells a host of global brands including Hugo Boss, hp, Philips, Reebok, adidas and P&G.
“Chinese consumers demand good quality brands and exceptional online service. At JD.com, we promise that 100% of product will be delivered within 24 hours across China and within a three-hour window within many of the major cities. As a result, we’ve seen huge mobile penetration with 47% of orders taken via mobile in the first quarter of 2015,” concluded Kui.