Daily Digital Pulse Of China: Luxury Growth, 360Buy Cloud
58% y-o-y growth of luxury online shopping market size
Chinese e-commerce market data monitoring report 2012 shows that the e-commerce transactions amounted to 3.5 trillion yuan, a y-o-y growth of 18.6% for the first half of this year. The luxury online shopping market size records a y-o-y growth of 58% with $ 13.5 billion. Mechandise quality and unsatisfactory user experience are major weaknesses of domestic luxury shopping. Nevertheless many international luxury brands vie for the Chinese online shopping market.
360buy launch cloud service platform Jcloud.com
Today 360buy lauched their cloud service platform Jcould.com and provide each user with 10G online storage space. They combine the e-book business with the cloud service so users can buy books and directly store them in the cloud. 360buy's e-books have nearly 300 million users and their e-book business has a monthly income growth of 30%. Cloud service has become one of the key projects of the future development.
China will become 1/4 of the world’s smartphone market this year
According to IDC China will be the market for more than one-quarter of the world's smartphones. By the end of the year China is seen surpassing the United States with expected 26.2% of the global market. The cheap smartphone market pushed the smartphone growth in China extremely. For low-cost smartphones India could also be an interesting market due to the huge population and low smartphone penetration.
Source: Tech in Asia