China's online shopping rakes in $16.41 bln in Q2
Shanghai. July 22. INTERFAX-CHINA - China's online shopping industry revenue grew 97.5 percent year-on-year to RMB 111.23 billion ($16.41 billion) in the second quarter of 2010, according to figures released by domestic consulting firm iResearch on July 21.
Within the online shopping industry, the consumer-to-consumer (C2C) sector accounted for 94 percent of the total, generating revenue of roughly $15.43 billion in the second quarter. The business-to-consumer (B2C) sector made up the remainder with revenue of roughly $980 million in the second quarter, according to iResearch.
Taobao.com maintained its leading position across online shopping platforms, generating $13.02 billion in the period, or 79.3 percent of the market in the second quarter. Tencent's online shop Paipai.com was the second largest with a 10.3 percent market share, while Eachnet.com held 3.8 percent of the total online shopping revenue, according to iResearch.
The largest B2C operator in the period was 360buy.com with revenue of roughly $347 million in the second quarter, representing over a third of the B2C market. Dangdang.com and Newegg.com followed in the same period with 9.8 percent and 8.9 percent of the B2C market respectively, according to iResearch.
Online shopping revenue accounted for approximately 9.9 percent of e-commerce revenue in China in the second quarter of 2010, according to iResearch.