The market for so-called fast moving consumer goods (FMCG) is so large that it will support high sales growth for both Alibaba and JD.com as they take business away from offline stores in the coming years, according to a report published by Goldman Sachs.
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FMCG accounts for 37 per cent of all retail spending in the mainland, and the market is expected to expand by an average of 6 per cent annually before reaching US$2 trillion in 2020.
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Fresh food has presented a challenge to online retailers globally, due to the high costs of cold-chain delivery and the low shipping fee consumers are prepared to pay.
Amazon rolled out its food delivery offering, AmazonFresh, in the US in 2007 but the 24-hour delivery service is still only available in a few cities after 10 years of testing.
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In China, just 2 per cent of fresh food is purchased online.
http://www.scmp.com/business/companies/article/2079085/chinas-e-commerce-sector-set-rapid-growth-consumers-go-online
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