Submitted by 2point6billion.com Blog

A growing consumer demand in India and China means that citizens will not only be spending their disposable income in shops, but will also be surfing online for the hottest deals. A recently concluded Master card survey said that by 2010, China will reign as the highest online shopping turnover at about US$1.4 trillion while India will clinch the No 2 spot. Both countries are expected to displace japan which currently rules the online market, Thaindian reported.

“The rising population of upper-middle-income urban elites is likely to boost the online shopping markets in China and India significantly. Domestic consumer spending in the two countries is poised to pick up strongly, underpinned by the rapid pace of urbanization, robust economic expansion and rising spending powe,” the China Daily quoted the survey, as saying.

Focussing on e-commerce across the region, the survey said that by 2011, online shopping growth will be exceed 23 percent a year, with the bulk of that coming from China and India. By 2010, India’s online shopping population is believed to go ahead of Japan and South Korea, revealed the survey.

While China has one of the lowest Internet penetration rates, its online shopping penetration rate is about 70 percent, “indicating the online population has a high tendency to make online purchases”, said the survey.

Talking in terms of total revenue, online shoppers in these countries spend an average of 612 dollars per quarter, with Singaporeans and South Koreans the biggest spenders.

In fact, the survey revealed that a large majority of the region’s shoppers, about 84 percent, plan their purchases and conduct research before spending their money.