Online shopping market retail sales volume in China 2015-2024
Published by
,
In 2024, online commerce transactions in China reached approximately 15.52 trillion yuan, representing a 7.2 percent year-on-year growth. The e-commerce market in China maintained a steady growth in recent years.
E-commerce in China
In 2024, the Chinese online buyer penetration amounted to 87.9 percent, far above the global average. The number of online shoppers in China had reached more than 974 million in 2024.
Business-to-consumer (B2C) online commerce is an important component of China’s e-commerce market. In 2024, around a third of China's total retail sales were made online. Tmall, a subsidiary of Alibaba, JD, and Suning were among the leading B2C e-commerce retailers in China as of the first quarter of 2022.
Since its initial public offering (IPO) at the New York Stock Exchange in September 2014, Alibaba became one of the largest internet companies worldwide. As of the third quarter of 2018, it ranked second only to Google based on brand value. Alibaba Group is not solely focused on B2C business. It also dominates in consumer-to-consumer (C2C) and business-to-business (B2B) segments. Alipay, a third-party online payment solution brought forward by Alibaba, has cornered the online payment market in China.
