Chinese consumers spend USD10 bn on health on Alibaba
14-Dec-15, Internet Retailer
Chinese consumers are going online to buy health products and services.
Those purchases include nursing service sales, which grew 205%, and health insurance sales, which increased 432%.
%20International%20Supermarket%20News.jpg "Chinese consumers spend USD10 bn on health on Alibaba (c) International Supermarket News")
Image: International Supermarket News
Chinese consumers spent 65.02 billion yuan ($10.10 billion) in buying medicines, health care products and services on Alibaba’s Chinese retail sites in 2014, up 62.5% from a year earlier, according to a report released last week by Alibaba Group Holding Ltd., China’s dominant e-commerce company. The report also says Chinese online consumers are moving from seeking cures for diseases to investing in illness prevention.
In the report, Alibaba attributes the increase in online healthcare spending to personal income growth, the aging of China’s population, urbanization and environmental problems.