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

Is customer segmentation dead?

Ginni Rometty, the CEO of IBM, announced the death of customer segmentation five years ago saying, "The shift is to go from the segment to the individual. She might have been a bit premature for most marketers, but if customer segmentation isn't dead yet, it's definitely on life support.

Richard Taylor

Senior digital strategist, Spinach

How people buy brands

Andrew Ehrenberg was a giant in the field of marketing science. He believed scientific methods could reveal law-like patterns of how people buy. In this post, I summarise one of Ehrenberg’s most important discoveries and its implications on how people buy brands.

Kyle Ross

Strategist, TRP

Is artificial intelligence riddled with bias?

The purpose of Artificial Intelligence (AI) has always been to replace the menial and repetitive tasks we do each day in every sector, so that we can concentrate on doing what we do best. Saving time and money has certainly been a decent outcome as AI infiltrates the business landscape, however, now we are starting to see problems that cause major issues in practice.

Katja Forbes

Founder and chief, sfyte

This is so cool & Innovative . A Milestone will be created by this.

Digital Marketing Courses

AANA, IAB and MFA chiefs detail first cross-industry digital advertising practices

Read more

“2019 will be the year brands leverage their social capital with consumers to help drive sales, answer questions, and act on the brand’s ...

Engenius

Predictions: 9 digital marketing trends for 2019

Read more

At the deeper levels of artificial intelligence, computing machines make all kinds of correlations among whatever data is available to th...

Fraction Tech

Is artificial intelligence riddled with bias? - Customer Design - CMO Australia

Read more

https://myiplookup.com/ - find your ip address and location information in our main page. Also there are many ip tools you can use : IP L...

savefrom

iSelect outlines new approach to arrest ineffective marketing as its reports full-year results

Read more

https://myiplookup.com/ - this website will allow you to View Alexa Ranking and graph Check http headers of a website, tool to compare te...

savefrom

The Star's first CMO creates all-new marketing team

Read more

Latest Podcast

More podcasts

Sign in