China is where it’s at for online retail: Forrester

E-commerce spending in China is forecast to grow from US$294 billion in 2013 to $672 billion in 2018

China is set to overtake the Unites States as the world’s largest online retail market, according to Forrester research.

According to Forrester’s Asia Pacific Online Retail Forecast, 2013 to 2018, e-commerce spending in China is forecast to grow from US$294 billion in 2013 to $672 billion in 2018. China, Japan, South Korea, India, and Australia are forecast to outpace US and Western Europe, with online retail doubling from US$398 billion in 2013 to US$858 billion in 2018. These countries together are already close to the combined US and Western Europe revenue figures.

“Across every market in Asia Pacific, online retail revenues continue to grow,” states Forrester’s research report. “The countries will be some of the world’s biggest drivers of global e-commerce growth going forward.”

In Australia, e-commerce spending is forecast to grow from US$23.5 billion in 2013 to US$37.8 billion in 2018.

“Australia, with a population of just 23 million, is less than half the size of any other country included from a population perspective,” read the report.

“In the past, leading traditional retailers in Australia were slow to come online, with some dismissing e-commerce for years. By now, however, retailers like David Jones, Myer, Woolworths Supermarkets, and Harvey Norman have invested heavily in their online offerings.

With the proliferation of mobile devices, omnichannel is a key trend in China and across the Asia-Pacific, according to Forrester.

Glue Store to offer real-time retail via TV and Twitter
Aussie retailers: Focus on omnichannel customer service Coming to grips with omnichannel retailing

“Retailers are rolling out smartphone and tablet offerings, as well as launching other omnichannel options such as click-and-collect.

“In China, for example, traditional retailers like Suning have made omnichannel a top corporate priority to compete against strong Web-only retailers. In Australia, where local traditional retailers were slow to embrace the online channel, the bar was raised by global players such as Topshop and Zara that had honed their omnichannel options elsewhere.

Forrester also identified Web-only retail as a dominant trend. “Consumers have flocked to online pure-plays over their traditional retail counterparts. In very few markets in the region do traditional retailers hold any dominant position – or even come close to competing with the Web-only giants.”

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Does your brand need a personality review?

There are five tell-tale signs your brand needs to take a long hard look at itself.

Charlie Rose

Senior Strategy Consultant, Principals

How to create profitable pricing

How do we price goods and services? As business leaders, we have asked ourselves this question since the history of trading.

Lee Naylor

Managing partner, The Leading Edge

Sport and sponsorship: The value of event sponsorship

Australia’s cricketers captured the nation’s attention during their recent run to the semi-final of the ICC Men’s World Cup. While the tournament ultimately ended in defeat, for over a month it provoked a sense of belonging, hope and empowerment for millions of people across Australia. Cricket, and sport in general, has a near-unique ability to empower individuals, irrelevant of their background, demographic or nationality.

Nikhil Arora

Vice-president and managing director, GoDaddy India

I should check these guidelines. I think it's important for me. Thanks for the info!

Juana Morales

IAB releases social media comment moderation guidelines

Read more

I didn't know about that. Thanks!

Jamison Herrmann

Twitter 'recap' helps you catch up with missed tweets

Read more

😂😂😂😂😂😂😂😂

Max Polding

What it takes to turnaround an iconic Australian brand

Read more

I spend a lot of time in my professional life as a provider of marketing solutions trying to persuade customers that CX, UX, UI and Custo...

sketharaman

Gartner VP: Why CMOs and CIOs must band together to make CX a discipline

Read more

I live the best deals at LA Police Gear.

Tyrus Rechs

6 Ways to ramp up Social Media to Your Web Design

Read more

Latest Podcast

More podcasts

Sign in