BEIJING: The online retail market increased in value by 93.7% in China last year, new figures from iResearch, the consultancy, show.

Zhang Yanping, an analyst at the research firm, said ecommerce spending in the world's most populous nation rose to 248.4 billion yuan ($36.3bn, €26.9bn; £23.5bn) in 2009.

This compared with growth of 128.5% in 2008, with an expansion of 65.1% likely in 2010, a rate of growth that will slow to 43.9% in 2011, 33.9% in 2012, and 26.6% in 2013, when sales will reach 1,000 billion yuan.

Zhang urged businesses to invest in their ecommerce operations, including offering a wider range of products and developing personalised services, in order to improve their market share in the future.

Data sourced from iResearch; additional content by Warc staff