China to Become World’s Largest Retail Market Thanks to Ecommerce
New data coming from eMarketer’s latest worldwide retail forecast shows that this year, China will manage to surpass the US and become the world’s largest retail market, with sales of over $4.886 trillion, compared to the average sum of $4.823 trillion in the US. Due to Asia’s growing number of online shoppers, reports indicate that this year alone, the entire continent will spend a record $1 trillion, most of the sum coming from China. While the increasing popularity of ecommerce in other regions such as Southeast Asia and India have helped pushed the number upwards, China owns the....
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Sales in China grow as Asia dominates ecommerce, a new form of malware finds its way onto Mac computers, and you’d better not visit a blocked site in India. Want to catch up on your latest digital currency news? Check out the stories below. DOMINANCE IN ASIA. CHINA. Thanks to a massive increase in Asia’s online shopping community, China is now set to become the world’s largest ecommerce retail market with nearly $5 trillion in sales, a number that’s slated to double by the year 2020. The U.S. ultimately falls into the number two category, a first for the western nation. Forecasting....
Online retail is a global phenomenon. Leading ecommerce platforms like Amazon, eBay, Rakuten etc. have a strong global presence. Apart from these global ecommerce companies there are thousands of ecommerce platforms catering to different geographies, not to mention small online businesses including individual owned online shop fronts that augment brick and mortar businesses. No matter how big or small they are as long as they are online they can cater to the whole world irrespective of any geographical boundaries. While reaching out to global audience is easy for online retailers,....
Uphold Inc., a platform that provides various financial services and encourages fintech innovation, now allows customers in Greater China and Hong Kong to use their China UnionPay card to load funds to their Uphold wallet. Uphold is partnering with China UnionPay, the largest bank card association in China. Uphold offers China UnionPay customers a safe, secure, and transparent suite of financial services. In announcing the China UnionPay partnership, Anthony Watson, Uphold president and CEO, said Uphold becomes the first U.S.-based financial services company to provide services in Greater....
Bitcoins were worth nothing in 2009, when the digital cryptocurrency was first minted on the computer of its mysterious creator, Satoshi Nakamoto, who claimed to live in Japan. Four years later the value of one Bitcoin surpassed $1,100, thanks in large part to a surge in speculative interest from China. A little-known Shanghai company called BTC China met the demand and quickly became the world’s largest Bitcoin exchange, with more than 100,000 of the virtual coins, or $100 million, traded on a single day, nearly double the market share of its closest competitor, Japan’s Mt. Gox. BTC China....
The ecommerce giant said it would delist bitcoin mining equipment from its platforms after the renewed China ban of Bitcoin.