|Manager:||Top Level Domain Holdings|
|Registry Provider:||Minds + Machines|
Excerpted from response to question #18 in TLD application:
"As more and more Chinese-language vendors become comfortable with the idea of selling online, the demand for a specialized extension to denote ecommerce has clear appeal. The purpose of the .购物 (“shopping” in Chinese) gTLD is to create a specialized top-level domain for the growing Chinese-speaking ecommerce sector.
Chinaʹs ecommerce market makes up almost 90 percent of its overall business-to-consumer market. Ecommerce has expanded at a compound annual growth rate (CAGR) of 90 percent over the past five years, rising from roughly $750 million in 2004 to more than $32 billion in 2009. (Source: http:⁄⁄www.atkearney.com⁄index.php⁄Publications⁄chinas-e-commerce-market-the-logistics-challenges.html, accessed 4-2-2012). By 2014, we estimate the Chinese ecommerce market will be worth $175 billion. (Source: http:⁄⁄www.atkearney.com⁄index.php⁄Publications⁄chinas-e-commerce-market-the-logistics-challenges.html, accessed 4-2-2012). Further, in the US alone, ecommerce is expected to grow to 250 Billion in sales by 2014, growing at an 11% rate (source: http:⁄⁄techcrunch.com⁄2010⁄03⁄08⁄forrester-forecast-online-retail-sales-will-grow-to-250-billion-by-2014⁄). Similar trends are present in Western Europe which is expected to grow to 150 Billion by 2014.
In addition, it is estimated that today 11% of all retail sales occur online (source: Forrester Research). This is a steady growth from 1% in 2000, 3% in 2006 and so on. The recessions of 2000 and 2008 have had almost no effect on the growth of ecommerce.
For independent designers, small arts and crafts manufacturers, artisanal food makers, artists, and bands selling musical merchandise there is a clear advantage to having a storefront on the Internet. Millions of such vendors already have storefronts on eBay and Amazon. With the advent of .购物 and inexpensive and easy to understand ecommerce software, these same vendors will increasingly look to establish sites with identifiable domain names on the web where they can reach a broader audience.
This company aims to offer small business owners and service providers a new top-level domain that is instantly recognized by consumers in China and worldwide as denoting commerce in China: .购物. Unlike .COM, which was originally intended for commercial application as opposed to non-commercial, but no longer has that meaning, .购物 clearly indicates that something is for sale and that the site is in Chinese.
We see .购物 playing a role in the development of this vital next step of the evolution of Chinese ecommerce. We see .购物 serving all levels of the Chinese ecommerce economy, from megastores to small, independent operations."