China's 2010 Online Shopping Service Market Reaches RMB 2 Bln
Sina Tech, 11/01/11
According to figures released by Hangzhou-based C2C & B2C e-commerce site Taobao, China's online shopping services market had a total scale of RMB 2 bln in 2010. Taobao expects transaction volume to reach RMB 5 bln this year, up 150% YoY, and a total market scale of RMB 12.5 bln in 2012.
The report from Taobao showed that Taobao vendors used e-commerce tools including software applications, outsourced online store management, data analysis, quality monitoring, sales services, photo models, consulting and training services, and HR for supply chain, finance, and legal representation, among other services.
Software tools were the most commonly used e-commerce services, with 1.5 mln vendors paying for an average of 2.75 software tools per vendor. Most of these vendors - 73.8% - had feedback ratings ranging from one to four 'diamonds,' with four-diamond vendors spending an average of RMB 150 per month on online tools. 14.7% of the vendors had ratings of more than four diamonds. Vendor's payment ability, credit ratings, transaction counts, time online, and product listings correlated along a direct ratio.
Taobao's vendor-oriented service platform (fuwu.taobao.com) currently offers nearly 2,000 products and services, including 648 online tools to which vendors may subscribe. There have been 780 mln transactions for online tool subscriptions so far this year, a 174% increase over the same period in 2010. Each online tool generates an average of nearly RMB 100,000 in monthly revenues.
Keywords: national statistics market size e-commerce Taobao Internet B2C C2C revenue transaction volume
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