SHANGHAI — Brands will have no choice but to have an e-commerce presence in China or face being left out of what will soon become the largest online retail market in the world, according to a Boston Consulting Group study released Thursday.
An expanding population of Internet users combined with more widespread consumer acceptance of buying products online will spur China’s e-commerce market to triple in size to more than $360 billion by 2015, according to the study, titled “China’s Digital Generations 3.0: The Online Empire.” By around that time, the report projects China will become the largest online retail market globally, with nearly 10 percent of retail sales occurring online.
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