Online shopping grows in China
E-commerce
21 September 2007
Online shopping communities in China are become increasingly popular as internet users switch to consumer-to-consumer platforms for their online transactions, according to a report by IDC.
The report on China's internet usage indicated that virtual communities are changing the way people do online shopping and are swiftly becoming the dominant players in the online shopping market.
Over 90 per cent of respondents to the IDC survey said that they would shop online within the next 12 months.
Jacky Huang, senior analyst at IDC, said: "The number of residential broadband internet subscribers in 2006 continued to soar in the China. While internet users are gaining access to a wealth of more advanced applications and services based on Web 2.0 technology, operators and online businesses are still struggling to develop a viable business model.
"At this point, it is still too early to tell which business model, or combination thereof, will reap the benefits in terms of hard cash. Therefore, the need to fully understand the internet consumers will be essential to those looking for business opportunities in the internet space."
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