[photopress:taobao.jpg,full,alignright]The transaction volume of Taobao.com, a major Chinese auction website in China, more than doubled to RMB16.9 billion ($2.11 billion) last year, up 110% from the RMB8.02 billion in 2005.
The website had 30 million clients in the year, up from 13.9 million at the beginning of last year. Mobile phones, cosmetics and laptop computers were the top three selling items on the website although the previous year the leaners were books and video discs. According to to Taobao.com this indicates changing consumption habits and the maturing of e-commerce in China.
Liu Bing, a senior analyst with China Computer world Research, a leading industry research agency, said, the development of e-commerce, whose transaction only accounts for about one percent of the country’s total retail turnover last year, had great potential. Certain products, such as food and cars, were still unaffected by the fast expanding e-commerce. However, Liu said, with the further development of logistics, more commodities would be available in online auctions.
He said product quality and after-sales service were still major problems that troubled customers.
Source: My TDC Trade
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