China’s online shopping will disrupt the world soon enough
China is by far the largest e-commerce market in the world, with its e-commerce sales hitting a high of $1.53-trillion in 2018
While SA’s retail sector is yet to fully embrace e-commerce, its Brics partner, China has become a behemoth in online shopping, which accounts for a massive chunk of luxury retail around the world. China, which is the world’s second largest economy, contributes about 33% of the overall luxury market around the world, according to David Sadigh, founder and CEO of Digital Luxury Group. Sadigh said the country, which has fashioned its own online ecosystem behind the “Chinese wall”, is by far the largest e-commerce market in the world, with its e-commerce sales hitting a high of $1.53-trillion in 2018. Microsoft SA’s Ravi Bhat says that although SA’s economy is still largely undisrupted in terms of conducting business online, local retailers are aware that it is not that the industry will never be disrupted, and that it is merely a matter of time. Sadigh, whose company has a footprint on various Chinese digital platforms, was one of the speakers at a Microsoft event in Paris, France. H...
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