eCommerce market in Greater China

Greater China is the largest market for eCommerce with a predicted revenue of US$1,487,233.0 million by 2023, placing it ahead of United States. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.4%, resulting in a projected market volume of US$2,374,985.2 million by 2027. With an expected increase of 13.9% in 2023, the Chinese eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Greater China, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Chinese eCommerce market. Electronics & Media is the largest market and accounts for 25.6% of the Chinese eCommerce revenue. It is followed by Fashion with 22.6%, Toys, Hobby & DIY with 21.0%, Food & Personal Care with 20.9%, and Furniture & Appliances with the remaining 9.9%.

Market development

eCommerce revenue development in Greater China

Greater China is the largest market for eCommerce with a predicted revenue of US$1,487,233.0 million by 2023, placing it ahead of United States. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.4%, resulting in a projected market volume of US$2,374,985.2 million by 2027. With an expected increase of 13.9% in 2023, the Chinese eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Greater China, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Chinese eCommerce market. Electronics & Media is the largest market and accounts for 25.6% of the Chinese eCommerce revenue. It is followed by Fashion with 22.6%, Toys, Hobby & DIY with 21.0%, Food & Personal Care with 20.9%, and Furniture & Appliances with the remaining 9.9%.

eCommerce revenue development in Greater China

in million US$, in %

Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war

Source: Statista Market Insights, ecommerceDB

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 5.6 72.8 96.3 26.0 66.9 42.2 93.0 84.9
AOV (in US$) 13.4 69.0 55.0 94.7 47.7 11.5 69.9 6.1
CVR (in %) 5.6 72.8 96.3 26.0 66.9 42.2 93.0 84.9
AOV: Average Order Value CVR: Conversion Rate

Top stores

Top five online stores in Greater China by net sales 2021

The biggest player in the Chinese eCommerce market is jd.com. The store had a revenue of US$118,485.5 million in 2021. jd.com is followed by chaoshi.tmall.com and vip.com as the second- and third-largest stores with US$19,887.8 million and US$16,734.4 million, respectively. Altogether, the top three stores account for 63.1% of the top 100 online stores' revenue in Greater China. Store rankings include every store that generates revenue in Greater China. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Greater China was considered.

eCommerce net sales generated in Greater China in 2021

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ecommerceDB analysis

no-access-0 no-access-1 no-access-2 no-access-3 no-access-4
Filtered revenue (in mUS$) 900.0 550.0 470.0 430.0 370.0
Share of global revenue (in %) 20.7 12.0 3.9 20.6 20.7
Global revenue (in mUS$) 8,300.0 4,600.0 1,190.0 2,122.0 1,814.0
Growth global revenue (in %) 8.3 12.4 33.6 18.0 12.6