Chinese Consumers Exceed $500 Billion in Annual B2C Purchases Online, Business and Industry Trends Analysis

China is posting phenomenal growth in ecommerce.  For 2020, eMarketer expected $2.297 trillion in Chinese retail online sales, up from $1.801 trillion in 2019 and $1.46 trillion in 2018.  The company forecasted $2.779 trillion in Chinese ecommerce sales in 2021.  This growth is due to widely available internet access, a growing middle class, the development of Chinese ecommerce businesses such as Alibaba.com and Tencent, sophisticated payment technologies and aggressive development of fast product delivery services.  The Coronavirus pandemic also played a significant role in ecommerce escalation. Alibaba.com, the China-based owner of a wide variety of online platforms and services, had…

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