A report released on March 8 by the international consulting firm KPMG shows that people living in Asia in 2016 preferred online shopping more than any other regional group in the world. It is also predicted that Asia will be the world’s largest family consumption market in 2030, Shenzhen Special Zone Daily reported on March 9.
The report states that family consumption in the U.S. will reach $17 trillion by 2030. The number will be $16 trillion in Europe and $33 trillion in Asia.
Asia will become the most important family consumption market in the future, largely due to the growth of the internet and mobile consumption. Data shows that consumers in Asia currently shop online an average of 22.1 times per year. Consumers in the U.S. do so an average of 19 times annually, and those in Europe do so 18.4 times.
Anson Bailey, head of retail and consumer goods at KPMG, pointed out that more than 80 percent of Chinese consumers prefer to make purchases using mobile phones due to the convenience of this method.
