25% of PayPal Users Bought from Chinese E-Retailers Last Year
One in four PayPal users outside of China made purchases with Chinese e-retailers in 2015, according to a new report from PayPal. That equates to 40 million people, many of whom are in the United States.
Online shopping through Chinese retailers has become incredibly popular as Americans look for bargain prices on gifts and personal items. PayPal said 30% of the products purchased through Chinese e-retailers were electronics and 20% were jewelry.
These shopping trends have led to the wide expansion of mobile shopping apps like Wish. These apps, which may have “hundreds of millions of users,” give people access to low-cost items such as clothing, jewelry, phone accessories and electronics from Chinese producers. For just a few dollars, Americans can buy products for much less than what they would find in local stores. They simply have to be willing to wait a few weeks for the shipping.
This is just one of the reasons why PayPal reported such high numbers for last year. The countries who reported the highest number of PayPal users buying from Chinese e-retailers include Israel (60%), Russia (52%), Singapore (37%), Nigeria (36%) and Australia (32%).
PayPal already has 20 offices in China, and the company plans to expand to 10 more offices in the near future. This will broaden the number of retailers that accept PayPal for their online payments.