E-commerce is growing so fast that China is expected to pass the United States as the world's largest e-commerce market based on total spending, Reuters reports:
China's e-commerce market has grown at an average rate of 71 percent from 2009 to 2012, versus 13 percent in America, and its total size is expected to reach 3.3 trillion yuan ($539.07 billion) by 2015, Bain & Company said in a report released on Wednesday.
Total spending by Chinese consumers on online shopping reached $212.4 billion in 2012, compared to $228.7 billion in the U.S., the report said.
That growth will only continue as China's Internet penetration continues to increase. Currently, about 44 percent of China's 1.3 billion people are online, with 70 percent of new Internet user gaining access through their phones.
Read more: Reuters
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This post was originally published on Smartplanet.com