Taobao Shows Strong Ecommerce Growth in China Last Year - AuctionBytes.com - Ina Steiner
Taobao.com, China's largest online shopping marketplace for consumers in China, reported on Tuesday that its transaction volume (gross merchandise volume) reached RMB 99.96 billion (US$14.62 billion) in 2008, a 131 percent increase over the previous year.
Taobao's transaction volume for 2008 exceeded the sales volume of China's largest mass retailer, and equaled approximately 1% of China's total retail trade in 2008, according to statistics released by the Chinese government.
Taobao had over 1 million online merchants, and a total of 98 million registered users as of December 31, 2008, of which 48 percent were between the ages of 25 to 32, and 35 percent were between the ages of 16 to 24. (continue reading)
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