The online shopping market has been on a steady rise over the past few years, and in 2010, it once again broke records with astonishing achievements. This massive growth in e-commerce was particularly highlighted by the impressive performance of B2C online stores, which sparked a new wave in the retail industry.
In the first half of 2010, China's e-commerce transaction volume reached 2.25 trillion yuan, and it was projected to surpass 4.3 trillion yuan for the whole year. By June 2010, the number of personal online stores had climbed to 12 million, with expectations that this figure would reach 13 million by the end of the year. The rapid expansion of online retail is reshaping consumer behavior and market dynamics across the country.
Looking back, the e-commerce sector has seen consistent growth: in 2006, total transactions exceeded 1.5 trillion yuan; by 2007, it hit 2.17 trillion, a 90% increase from the previous year. In 2008, the number rose to 3.1 trillion, and by 2009, it reached 3.85 trillion, showing an 81.5% year-on-year growth. These figures highlight the unstoppable momentum of online shopping in China.
This surge in online retail activity has made B2C platforms stand out. In particular, Taobao Mall, part of Alibaba, became a major player during the 2010 "Singles' Day" shopping festival. Just 10 days after launching its independent domain name, Taobao Mall set a record with an average transaction value of over 10,000 yuan per second on November 11th.
Meanwhile, Dangdang.com made headlines when it successfully listed on the Nasdaq in December 2010. It was priced at a high price-to-earnings ratio and saw a sharp rise on its opening day, marking it as the first major B2C company to go public in the U.S. Since then, Dangdang has expanded into various sectors, including electronics, beauty products, home goods, and more, signaling its ambition to become a comprehensive online retailer.
Dangdang's co-CEO, Yu Yue, pointed out three key advantages that helped the company enter the department store market: a large customer base, brand recognition, and an established logistics network. With 10 logistics centers across six cities and partnerships with over 100 transportation companies, Dangdang is well-equipped to handle order fulfillment efficiently.
The company aims to build an "online Walmart," and its financial results support this vision. In the first nine months of 2010, Dangdang sold 590,000 book titles for 1.3 billion yuan, a 55.6% increase compared to the same period in 2009. Meanwhile, its department store segment grew at an even faster pace, with sales reaching 246 million yuan, up 230% year-on-year.
In 2009, books accounted for 80% of Dangdang’s revenue, but by 2010, the company expected department store sales to make up 25% of total revenue, with a goal of reaching 50% in the following year. Dangdang’s total sales are projected to exceed 5 billion yuan in 2010, reflecting its rapid transformation into a major player in the B2C space.
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