There are some interesting stats and information, including:

• Online seafood retail in China is growing quickly: valued at RMB 34.5 billion in 2020, 9.3% growth over the previous year. From 2017 to 2020, the compound yearly growth rate was 23%.
• Consumers report higher levels of satisfaction when buying seafood online compared to traditional retailers, and are willing to pay more
• Prawns, seaweed products, and freshwater fish are the lead volume categories, with obvious potential for cod, salmon and swimming crabs
• The market is not highly concentrated, so there are still many opportunities to enter. For example, the top six seafood brands on Tmall only account for 12.8% of the market
• The typical buyer of online seafood is female, aged 30-49, relatively high income, and likely from a first or second-tier city
• Key consumer segments: mothers; young white-collar workers; older middle class
• Key market trends: quality; processing; freshness; medicinal benefits; healthy lifestyle

Our next STAG newsletter will be issued on 12th January 2023. If you have any urgent enquiries please email: admin@seafoodtradeadvisory.com

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The Seafood Trade Advisory Group (STAG) creates informative resources for Australian seafood exporters. The STAG receives funds from the Fisheries Research and Development Corporation (FRDC). It is jointly funded by the Australian government and the fishing industry, which is a statutory authority within the portfolio of the Federal Minister for Agriculture Water and the Environment. 

 Any information provided in this STAG publication as a part of this service is general in nature. Before acting on any information provided, you should consider its appropriateness to your circumstances and business objectives.