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China’s cross-border e-commerce to hit 1.32 trillion USD by 2018

The country’s import and export e-commerce value is predicted to reach 1.32 trillion USD by 2018, according to the Chinese Cross-Border E-commerce Index. This prediction includes retail and business-to-business transactions. In comparison, Chinese cross-border e-commerce value in 2016 was of 1.01 trillion USD, a 31.6 percent jump from 2015.

The Index also reported a generation gap. The younger generation is driving the e-commerce boom, with people born in the 1980s making 59 percent of cross-border orders. In comparison, those born in the 1990s accounted for 23 percent of the orders, and those born in the 1970s, 14.4 percent.

The typical e-commerce shopper is highly educated, employed in big corporate businesses and has kids.

Best-selling goods in 2016 and 2017 included cosmetics, baby-mummy products, shoes, clothes, health products, accessories and suitcases. Top cities where customers prefer cross-border e-commerce are Shanghai, Beijing and Hangzhou. The three cities are home, together, for 25.8 percent of the entire cross-border buyer population.

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