China’s e-commerce sector grew a massive 45% year-on-year in the second quarter, accounting for 12.5% of the country’s GDP, according to new research.
The study, from Analysys International indicates that total sales in China was 278.84 billion yuan ($44.5bn/ £36bn), with Alibaba Group’s Taobao capturing a huge 76% of the market.
The amount of trade conducted on Taobao Mall and Taobao Marketplace exceeded 200 billion yuan in the April-June quarter, far surpassing rivals Tencent Holdings and 360buy, which had 4.5% and 5.5% of the market, respectively,
Among smaller players, Amazon had just 0.8% of the market, E-commerce China Dangdang had 0.7% and Suning 1.2%.
Yihaodian, China’s top online supermarket in which Wal-Mart owns more than 50%, accounted for just 0.3 per cent of transaction volume.
E-commerce represented just 4% of China’s retail sales in 2011, but the transaction value jumped 30% to 5.8 trillion yuan ($925 billion), equivalent to 12.5% of China’s gross domestic product, China’s vice minister of commerce, Jiang Yaoping, said in May.
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