BUSINESS INSIGHTS
WHY WE SHOULD BE LOOKING TO CHINA FOR FUTURE E-COMMERCE TRENDS
E-commerce is a large economic market in China , with constant technological advancements being made throughout the country . Toby Zhang , CEO of Shop Lit LIVE , speaks to us about how the West should follow China ’ s e-commerce strategy and harness technology more .
The COVID-19 pandemic has caused many traditional brick-and-mortar businesses to start shifting towards or leaning further into online business models . China has been ahead of the curve in developing an economic infrastructure that allows for digital commerce to strive . The Chinese e-commerce market is expected to grow 11.6 % annually between 2021 and 2025 to reach a staggering US $ 3.3 trillion in 2025 . Now more than ever ,
Chinese customers are purchasing online at a faster pace than their counterparts in many other countries .
Historically , China has suffered from a lack of physical retail infrastructure in its lower-tiered cities and many shoppers had no choice but to move online . Throughout recent years , e-commerce allowed customers from more rural or remote areas to access a much broader range of
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