China's online spending skyrockets!

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A report by China E-Commerce Research Center shows that online sales in the Mainland have gone up substantially from 514 billion yuan in 2010 to 801 billion yuan last year and the trend is set to continue for many years to come. There were also 29% more people shopping online in 2011 when compared to 2010 which shows the increase is not only due to increase spending from current people, it is also new people coming on board and trying online shopping which is key. Government has been spending and investing a lot of money to get internet connection to many people in the 3rd or 4th tier cities in the Mainland. Alongside this trend, we are seeing more people going through group coupons and buying them there to get a good deal and discounts. Also bigger companies like Taobao.com which lets people sell goods and even buys has been growing extraordinarily in the past years which shows the internet is helping many industries and the economy as a whole too. Expect to hear more news about China making Asia the biggest online marketplace for many years to come.

Source: http://red-luxury.com

Image: lumaxart
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