[Related Article] Chinese Social Commerce Industry Undergoing a Wave of Consolidation(Korea Bizwire, Mar 28)
According to data released recently by the China International Electronic Commerce Center, the number of social commerce sites closed for business since the beginning of the first social commerce site in China has been 5,376 out of total 6,246 operators. The closure rate is as high as 86 percent. This is much higher than the figure announced by the same center in 2012 when it said 3,482 sites went out of business from 6,177 (closure rate of 56%) (see the full text of this news)
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