Chinese consumers spent 66 percent more money shopping online last year, compared with 12 percent growth in total retail sales, according to a report by the country’s biggest e-commerce company.
Online consumer spending totaled 785 billion yuan ($125 billion), according to a report on the website of the research unit of Alibaba Group Holding Ltd., based on data from International Data Corp. Alibaba said its Tianmao division recorded transactions worth 100 billion yuan last year.
Online shopping in China will comprise 7 percent of total retail sales in 2015, increasing from 3 percent now, with “huge room for growth,” according to the report.
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