China’s economy is still on fire, with expected GDP growth of 8 percent in the first quarter of 2013. So it’s no surprise that e-commerce is also soaring. According to compiled industry research from Alibaba Group, 2013 will mark the first time Chinese online spending exceeds that of the U.S.
Alibaba expects e-commerce in China to reach $265 billion this year, up from roughly $194 billion in 2012. The U.S., which generated $209 billion in e-commerce sales last year, will add a mere $21 billion this year, according to the projection.
Of course, China’s 242 million online shoppers (out of an overall population of more than 1.34 billion) outnumber their U.S. counterparts by a cool 75 million. They buy lots of clothing and accessories, but relatively little in the way of household goods, digital media and electronics. Surveys show that China’s online shoppers like the fact that they can save money on the Web, but still worry about product quality. product quality).
For the full breakdown of Chinese e-commerce projections and behavior, check the infographic below: