Online retailer sales drop in first quarter

Online retailer sales drop in first quarter

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For the first time in the first quarter, online retail turnover experienced a decrease. The latest report states that shoppers are satiated after the series of high-profile sales promotions at the end of last year.

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iResearch Consulting Group based in Beijing says that Chinese shoppers spent about 352 billion yuan online in the first quarter of 2013 which is a drop of 17.1 percent compared to the previous quarter. Regardless of this, company reports that the annual turnover will still most likely reach 1.85 trillion yuan.

Zhang Jing, the iResearch analyst said, “Several large-scale promotional campaigns at the end of 2012 consumed buyers’ purchasing power — that’s the major reason for the decline”. Some of the top e-commerce websites like Suning and Tmall launched their sales promotions back in November and December. These sales promotions were launched in order to attract customers and increase online sales.

The number of Chinese Internet users who are buying goods online is rapidly increasing. One analyst says that they are optimistic about the online shopping in Chinese sector despite the decline in the first quarter. The Chinese people are considered as the world’s most frequent online shoppers, a recent survey revealed.