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!

Error: Please check your email address.
Show Comments

Blog Posts

To DMP or not to DMP?

There are plenty of brands that can benefit from plugging into a data management platform. But should you engage an agency to run one or bring it in-house?

Ben Willee and Richard Taylor

Spinach Advertising

Innovations in retail will bring creative and technology closer than ever

While approaching a customer in a shop and asking what you can help them with is Retail 101, how many of us actually enjoy being approached? Generally, you have to give the forced, fake smile and say, “Just browsing, thanks,” while screaming on the inside, “just leave me alone!” Maybe it’s just me?

Jason Dooris

CEO and founder, Atomic 212

There’s a brand in my digital soup

Not a day passes by in the life of business executives where digital innovation or the prospect of disruption is not front of mind. This in turn, drives an unrelenting flow of questioning, discussion and strategy papers.

Jean-Luc Ambrosi

Author, marketer

It is really inspiring to see that medial psychology & machines are going hand in hand to innovate new things and even are improving ...

CBT Professionals

How psychology is shaping better machine learning

Read more

Anything is achievable when you talk the talk .. good luck

Mo Al Hooti

Data Creative crowns Matt Bates as new CMO

Read more

Great hire and good luck Andrew. I am sure you'll do a fabulous jobRob

Rob

Amaysim marketing and commercial chief joins property tech investment startup

Read more

I need to be reborn before i can grow up & become a contestent.

Kaye Peterkin

Channel Nine's content now streamed digitally on 9Now

Read more

I hope The Block, will continue for many many more seasons.When i die, & grow up, I want yo come back as a contestent.

Kaye Peterkin

Channel Nine's content now streamed digitally on 9Now

Read more

Latest Podcast

More podcasts

Sign in