China’s Big Brands Tackle Web Sales

December 3, 2009 at 8:00 am

Li Ning, founded nearly 20 years ago by a former champion gymnast of the same name, opened its first Web site for selling direct to consumers last year. While still a small share of total sales, traffic on the site has grown so quickly that Li Ning has hired International Business Machines Corp. to help it build a new site, expected to launch in March, that will be able to handle more volume and will include a new features like wireless services.

China has the largest population of Internet users in the world, with 338 million at the end of June. But until fairly recently, they didn’t spend much buying things on the Web. That is starting to change.

Online transactions accounted for 1.2% of total retail sales in China last year, compared with more than 5% in the U.S., but they are growing much faster: the value of goods sold online is likely to grow 89% this year to $35.6 billion,estimates Credit Suisse. (By AARON BACK, The Wall Street Journal, NOVEMBER 30, 2009)

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Entry filed under: Asia, Business Development, China, NKITA, Technology, web 2.0.

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