Entering China virtually!

According to PricewaterhouseCoopers, there is going to be an increase in revenue generated from sales in the Asia Pacific region. The increase will be around 6% for offline and physical stores but it is going to be around 20% for online stores. That is why more foreign companies will be looking at the virtual route when looking to expand in China and the Asia Pacific region. Retail sales in the Asia-Pacific are expected to grow at an average 6 per cent annually to US$6.6 trillion this year and US$10.5 trillion in 2015, online shopping turnover in Asia will grow by an average of 20 per cent a year in the coming years. During the survey, the people from the Mainland said they went online and purchased all kinds of products, anging from clothing, to electrical appliances, groceries, jewellery and watches. "More retailers, especially overseas brands that haven't yet penetrated the mainland market, are considering reducing the number of store openings in China and diverting the resources to creating their own online retail platform," PwC's Carrie Yu said. "To do that they may look to acquire local dotcom firms." That would be the best way to enter the virtual Chinese market. Opportunities in Asia are abundant.

Source: http://www.scmp.com

Image: lumaxart