China: The Largest Internet Market in the World
As 2010 came to an end, the most populated country in the world tallied approximately 457 million Internet users, making China the largest Internet market in the world. In 2010 alone, China added more than 73 million Internet users, and the number of users in China – which is far greater than the entire population of the United States – is only set to grow.
As it is, just more than one-third of China is online, which means there is significant room for growth in the near future. Right now, Chinese netizens spend about 18 hours, or 2.6 hours a day, online. In the last year, consumer-generated media in China, like blogging, social media and forum posting, has become exponentially more popular.
Although the country’s overall Internet penetration rates are only a fraction of other developed countries, like the U.S., the sheer size of China’s economy makes the country a behemoth in the online marketplace. As it is, China has more than 755 million mobile device users, and more than half of those are considered “advanced users” that access the Internet on a regular basis. As advertisers begin to enter the Chinese market, this will play a major role in how Chinese consumers are targeted.
According to the China Internet Network Information Center (CNNIC), one of the major obstacles contributing to the country’s Internet penetration rate is insufficient bandwidth, which is slower than the US, Japan and South Korea. As this issue is addressed, the number of Internet users in China is expected to grow accordingly. Between better technology and widespread mobile device use, China is a sleeping giant in the worldwide online commerce area.
Digital advertising in China has seen a similar climb: online advertising spend in China rose 21% from the first three quarters of 2009 to the same period in 2010. For advertisers, this is a giant welcome sign, an indication that this is just the beginning of the attention given to Chinese Internet users. However advertisers approach the Chinese market, it is clear that there is much room for growth and opportunity for those who can successfully meet the needs and demands of a thriving Internet market.
