Behind E-Commerce Spree, China’s Children Baby and Maternity Product Industry Shows High Consumer Spending Potential
Americans spent $5.29 billion dollars in all during Black Friday (online and offline included). Want to know something more impressive? During the period around Chinese equivalent of Black Friday on November 11 (also known as Singles Day in China), an online shopping website T-mall owned by Alibaba processed more than $9.2 billion in sales, completely dwarfed America’s Black Friday.
China’s children, baby and maternity product industry hit great success during the shopping spree. According to T-mall, sales of children, baby and maternity products easily broke billion within the first 5 minutes of that day. Due to the outstanding sales performance, “Singles Day” discloses tremendous consumer spending potential in China’s children, baby and maternity product market.
As revealed by CBME China Children Baby Maternity Products Industry Consumer Report 2014, a latest consumer survey report conducted by CBME China, Chinese families spend 11-13% of their income on babies; 43% of surveyed parents are considering having a second baby in next two years, which would undoubtedly release huge market demand in near future. When asked “Where to buy children baby and maternity products”, consumers rank “shopping online” within the top three choices in both 2013 and 2014.
We can see more behind “Singles Day”. Mobile end dealings increase sharply compared with last year; tier three to five cities become the focus of competition for E-commerce enterprises. These new trends should be considered by key players in China’s children baby and maternity product industry and those who aim to enter this market.
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