Online Shopping Around The Nation
Online retails sales are seeing double digit increases every year over the previous year. Those numbers are expected to continue into the unforeseen future. We usually talk about the numbers in the US, but we can’t overlook one of the biggest potential markets in the world. The middles class Chinese have developed a taste for brand name products. The consumer market as we know it has only recently developed in China. Research has shown that consumers in Shanghai are looking at brick and mortar branded stores as showrooms rather than a place to buy. The online retail sale world in China is still in its infancy as compared to other countries around the world. Even with that said, China’s online sales totaled 82 billion dollars in 2010. That happens to be a 95% increase over the year before. So you can see what China will add to the online sales numbers when they mature.
Online stores carry everything that the middle class Chinese want and need. This is especially important because retailers in China have been unable to keep up with urban sprawl. The online market is no different in China really, than it is in the US where we can buy everything from apparel and cigars to Mitsubishi Parts and Hyundai Parts online. In China, auto parts may be for different cars and trucks but the concept and availability is the same. China will probably develop into the biggest online market in the world and it seems the Chinese have a more firm trust in the internet than we have here in the US.
So the forecasts for China are out of this world; so to speak. There were 137 million Chinese on the internet as of 2009 and that number jumps about 18 percent each year. China will soon catch up and pass the number of internet users in the US. One online company in China has 30,000 online stores and sells 53.000 items per minute. With numbers like that the retail landscape is forever changed and in China. It barely got started before technology helped change the way we do business and live our lives. It becomes even more mind boggling when you think about the online populations of India and other Asian countries. The online retail business is not going away and retailers who are taking advantage of the online market are reaping the benefits along with the pure click companies that do not have storefronts.
So do we know what the retail landscape will look like in the next 5-10 years? It may vary from region to region by one thing is for sure, the online retail sales will be a very large part, if not the largest part of all retail sales around the world. Get those mobile devices ready, keep that laptop with you and don’t forget you Kindle when you go on vacation because all these items are and will continue to be part of the retail world for a long time.