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40 % of Goods sold online are counterfeit

Update On :04 November 2015

40 % of Goods sold online are counterfeit

China’s Ecommerce are behind the race because of the lacking quality of the products said Chinese lawmakers. Only about 58.7% of items are genuine in online trading.

According to the report on implementation of the Law on the Protection of the Rights and Interests of Consumers, Commerce authorities across the country received 77,800 complaints last year concerning online orders, a staggering increase of 356.6 percent.

The Internet has become a critical element of China's economic progress in the past five years, accounting for 7 percent of the nation's gross domestic product (GDP), a percentage point higher than the US, China Internet Network Information Centre (CNNIC) said.

The report on Law on the Protection of the Rights and Interests of Consumers urged accelerated legislation in e-commerce, improved supervision and clarification of consumers' rights and sellers' responsibilities.

The decision by the Chinese government to publicize the report in a rare move came amid rising discontent over increasing supply of fake goods through online retail, raising questions over credibility of the online e-commerce giants like Alibaba which has emerged as e-commerce giant worldwide becoming one China's iconic companies in recent years.

Alibaba founder Jack Ma has been reiterating that his company has focused a lot on the scrutiny of its suppliers but complaints continued to mount. According to CNNIC, there are so far 328 listed Internet companies in China, which account for 25.6 percent of the nation's market capitalization. Four of them have made their way to the top 10 world Internet companies, including Alibaba.

The number of online shoppers climbed to 361 million, representing 55.7 percent of the nation's shoppers last year. Online shopping represents 20 percent of all consumer demand, the report said. For the first time mobile phones have become the most commonly-used platform to access the Internet, followed by computers.

News Source From : http://www.firstpost.com/business/chinas-e-commerce-players-delivered-40-of-fake-goods-to-consumers-last-year-says-a-report-2493188.html

Comments

Jayanthi
0 1 2 3 4
"This condition has arised due to online shopping.. Most of them prefer online shopping since its more comfortable, they can shop anywhere at anytime, once ordered they get in their door steps. rather to go to shop waste time everyone prefer this. Since they give huge discounts.. Everyone are attracted to online shopping. Where as in malls we get the same products in a higher rates.
"

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