45% of Chinese respondents purchase most of their luxury goods online according to a research conducted by KPMG. 61% will buy high-end outbound travel products online and 28% will buy cross-border luxury goods.
China’s e-commerce market has surpassed the US as the largest e-commerce market in the world since 2013. Although the annual growth rate tends to slow down, the whole market is predicted to reach US$1 trillion by 2018 or 2019 basing on KPMG. The number of cross-border online shoppers in China is expected to reach 35.6 million by 2018 and total 1 trillion yuan (US$o.16 trillion) according to Chinese Commerce Research Center.
Per capita average spend in recent three online orders are 2,300 yuan (US$358.75) in 2015 increasing by 28% compared to 2014. The maximum budget for each order is 4,200 yuan (US$655.11) in 2015 compared to 1,900 yuan (US$296.36) last year. And online luxury buyers are willing to spend more on most categories.
Among the popular online shopping goods, the average spends on men shoes, glasses and children clothing decline this year. Cosmetics, bags, women clothing and women shoes sell best.
Apart from goods, online luxury buyers are predicted to purchase more high-end services online especially travel products and skin-care products increasing greatly.
Women prefer to buy cosmetics, jewelry, accessories and home decorations online and men like buying beverage drinks, automobiles, glasses, and watches. Shoppers aged 30 to 39 years old spend more online. Women spend most on cosmetics and hotel reservation and men spend most on hotel and restaurant booking.
Also read: China Retail V.S. Online Shopping 2015