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"Comparison shopping" heralds a new boon for e-commerce
 
From: Jongo News
February 06, 2007 18:08 Beijing Time
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In recent years, along with the rapid development of e-commerce, about a quarter of Internet users are choosing to do their shopping online. In order to make Internet users purchase high-quality and low-cost products among various e-commerce websites, "comparison shopping" has come into being. Comparison shopping refers to websites that specifically specialize in comparing shopping deals from competing online retailers.

In 1999, there were only about ten comparison shopping websites all of which shut down due to China's lagging Internet development. Since 2004, however, in correlation with China's Internet boom, more than twenty comparison shopping websites have appeared.

Currently, comparison shopping websites are still in their developmental stages and no one site has emerged as the leader industry; a stable market pattern of the online comparison shopping industry has yet to take shape.

According to recent statistics, the domestic B2C market has seen great development in 2006, with the market scale reaching RMB 2.9 billion. In the next few years, the B2C market is predicted to maintain a 52% compound growth rate and in 2009 its market scale is expected to reach RMB 10 billion. Therefore, the possibilities for financial success in the online comparison shopping industry are very real.

 

 

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