China’s Alibaba Group‘s Tmall, JD.com and Chinese smartphone maker Xiaomi are the country’s top three B2C e-commerce platforms, according to a new ranking released by China Chain Store & Franchise Association.
Tmall reached total sales of RMB220 billion (US$35 billion) in 2013, 10% higher than its sales in 2012. Competing e-commerce firm JD.com recorded sales of RMB110 billion (US$17.6 billion) last year, up 83% compared with 2012.
Venture capital-backed Xiaomi saw its sales soar to RMB31.6 billion (US$5.05 billion) last year. The smartphone maker didn’t make the top 100 list in 2012.
Last August, Xiaomi completed a round of financing at US$10 billion valuation. The participating investors were not disclosed.
SuningYigou.net.cn, Suning Appliance Company Ltd.’s online shopping platform, took fourth place with RMB21.89 billion (US$3.5 billion) total sales. Amazon.cn ranked fifth in the ranking.
At the same time, the report says that offline franchise saw the growth rate of their sales continue to decline.
The top 100 offline retail franchise total sales grew 9.9% in 2013, down from 21% in 2010. It is the first time growth has dropped to single digit rate.