Online commerce in China almost hits $45 billion mark in Q2
China's e-commerce sector continues to grow at amazing pace and reached $44.5 billion in transaction volume (+45% y.o.y.) in the second quarter 2012. Don’t try to guess who benefits the most from it…
No need to look far to find the market leader: Alibaba Group's Taobao captures not less than 76% of the market, an Internet research firm said on Tuesday. Tencent Holdings and 360buy come to 4.5% and 5.5%, respectively, while Amazon and Yihaodian (China's top online supermarket in which Wal-Mart more than 50 percent), accounted for meagre 0.8% and 0.3% of transaction volume.
As a consequence of success, China's e-commerce market is increasingly becoming a cut-throat battlefield with firms launching price wars and promotions to capture attention. Last month, Chinese local media reported another legal investigation because of consumers of household appliances being cheated. Suning, GOME and 360buy are named in the inquiry.