My Ssec Capstone Project The economy of China has developed significantly over the last past years

The economy of China has developed significantly over the last past years

The economy of China has developed significantly over the last past years. Along with this development, various industries and businesses such as the Internet had seen their environment developed at a fast pace. China first got connected to the Internet in 1987 .
Moreover, numerous articles and reports had highlighted the growing online industry in China. Since mentioning online shopping, we should think ahead about the retail industry. Retail is defined by the Oxford Dictionary, as the sale of goods to the public in relatively small quantities for use or consumption rather than for resale. The Go-globe mentioned in 2013 that China had 591 million Internet users and every 1.6 seconds a new user is connected to the Internet. Also, in megacities such as Beijing and Shanghai, the Internet penetration rate is up to 60 percent .
In 2015, China’s total retail sales of consumer’s goods amounted to RMB 30.1 trillion, which is about $4.61 trillion . Chinese retail industry is showing an enormous potential for both China and also globally. According to eMarketer, in 2015 Chinese retail market took up about 20 percent of the global retail market, and contributed 37 percent to the growth of the global retail market. Compared with the growth rate of less than 5 percent in two markets shows stronger vitality and greater growth potential, and is expected to replace the U.S as the world’s largest consumer market in 2019 .
Furthermore, online retail sales in China amounted 5.16 trillion Yuan ($752 billion) in 2016, representing 26.2% growth from 2015, which is more than double the growth rate of overall retail sales, according to China’s National Bureau of Statistics, the agency charged with tracking economic data . The growth in online and offline retails reflects the prosperous Chinese consumers economy. Reports had mentioned an increasing demand for foreign premium products. Frank Tong mentioned that the number of Chinese consumers who purchased overseas products on Tmall Global has doubled . Also, according to Tmall Global operator Alibaba Group Holding Ltd, that at the end of August 2016, Chinese consumers had ordered more than 10 million orders on the cross-border e-commerce shopping area of, which launched in 2014 .
The popularity of smartphones and connected devices has changed the way people were shopping online, mostly through computers. Deloitte Research estimated that online shopping from mobile terminals reached over 200 percent from 2012 to 2015 . According to the data from iResearch, the transaction scale at mobile devices reached the amount of RMB2.1 trillion in 2015, accounting for 55.5 percent in the overall online retail market and surpassing PC terminal s in proportion for the first time to become the mainstream online consumption pattern. Mobile devices are incomparable to PC terminal due to its popularity, convenience, sociability and entertainment, with which smartphone has become an important part in consumers’ daily life, and also a major tool for online retailing enterprises to communicate with consumers .

3. Students Online Shopping Behavior

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Online shopping is a practice that affects different individuals and groups. Different studies had been conducting since the past to understand the way and what motivates students to shop online. Researchers had discovered that trust, satisfaction and commitment were having a significant effect on students’ fidelity toward online shopping . Lester et Al , reveals the important reasons of online shopping through its convenience of shopping online at any time, getting competitive prices, the feeling of security through improved and secured websites, availability of multiple items, privacy, and the possibility to compare the price. The less important reasons were to avoid the salesmen, tax-free products and enjoyment. Students consider the lack of security through online payment, the inability to try the product before purchase, high price of shipping and comparatively slower time of delivery, as being the most important disadvantages when purchasing online.
Seock and Bailey in their study mentioned that U.S college students shopping orientations were mostly focused on a search for information concerning apparel products online. The researchers also identified seven shopping orientations such as: shopping enjoyment, brand/fashion consciousness, price consciousness, shopping confidence, convenience/time consciousness, shopping tendency and brand/store loyalty.
A different study mentioned, that there was an important relationship between students attitude and intentions towards shopping online for apparel items. Students’ attitudes for shopping for apparel products were influenced by the demographic variables usage of the Internet, employment status, and car level. The students’ response and attitudes towards online shopping for apparel were different among them. Students who browsed online more frequently had a positive attitude towards online shopping compared to those who browsed less frequently .
A study conducted in China about young customers’ shopping behaviors and service quality perceptions on the Internet had revealed that the Chinese young consumers could be divided into segments based on their personal internet skills and their view of the challenges involving shopping online. Also, differences were found in efficiency, fulfillment and system availability, but rarely on privacy .
The results of Chen and Barnes , the study had shown that the Taiwanese