China is big in the news this week, with David Cameron visiting the world’s fastest growing economy. In total, more than 100 British business people, among them representatives of Rolls-Royce and Standard Charter, are accompanying the Prime Minister on his trade mission. We’ve taken the opportunity to look into the Chinese E-commerce market and the potential for UK businesses.
The potential of the Chinese e-commerce market
According to a study published by consulting firm McKinsey in July 2012, the Chinese e-commerce market is a fast-growing market estimated to be worth around 350 billion US Dollars by 2016. The number of online shoppers is expected to rise from 190 million to 351 million from 2012 to 2016. This will make China the number one retail market in the world ahead of the US in second place.
It is also found that for only 6.2% of consumers, internet shopping is a one-off experience. The majority of consumers turn into regular online shoppers after they have tried it once. A typical Chinese E-Consumer usually starts by buying clothes online, but then as they become more accustomed to online they start buying home improvements, books and consumer electronics. A survey in 2011 showed that for 85% of consumers that already shop online, buying online is as good as going shopping locally with mobile shopping rising.
How Languages can help you enter the Chinese market
One of the main goals of David Cameron’s Chinese trade mission is to show support for a EU-China free trade agreement which is estimated to save UK exporters £600m a year. There is huge potential for businesses to export to China but it is important that you do your homework first to avoid a faux pas that could potentially ruin your market entry. The best place to start is to make sure that your website is translated into Chinese so your potential customers can find you online and see your commitment to trading with their country. We’ve helped thousands of businesses to export overseas and provided them with an accurate website translation.
How would you translate your website into Chinese? Find out by reading our blog on the topic.
For more information about Wolfestone services:
Document translation services, Localisation services, Transcreation services, Multilingual SEO services, Proofreading, Voiceover services, Interpreting services, Multimedia services, Legal translation services, Other types of translation
The professional translation services you can trust!