While the US has the largest and most established e-commerce market in the world, it’s no secret that Asia and, specifically, China, is catching up fast. A MasterCard survey in November and December found that Chinese internet users shop online the most. When it comes to fashion retail, the strongest interest comes from China (54 percent), followed by Thailand and South Korea. By the end of 2016, China’s e-commerce is predicted to be worth CNY2.8 trillion (USD457.13 billion).
With such promising figures, it’s no surprise that established Western fashion e-tailers have turned their focus to this part of the world. In the past year we have seen popular websites such as Net-a-porter.com open an Asia-based fulfilment centre to serve its customers better, while shopbop.com and yoox.com have also launched dedicated Chinese sites.
However, what they didn’t bargain for was fierce competition from their Asian counterparts. These sites are run by some of the region’s savviest entrepreneurs, who pride themselves on knowing the local market. Their main challenge is differentiating themselves from the more established players, and they are launching sites with product offerings and services aimed at capturing the jaded Asian consumer.
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(Source: scmp.com)