China B2C E-Commerce and Online Payment Report 2013


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The recent „China B2C E-Commerce and Online Payment Report 2013“ by Hamburg-based secondary
market research company provides information about B2C E-Commerce and the movement
toward online and mobile purchase transactions in China.

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China B2C E-Commerce and Online Payment Report 2013

  1. 1. GmbH & Co. KGBehringstr. 28a, 22765 • www.ystats.comPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51 About yStats.comAbout yStats.comCHINA B2C E-COMMERCE ANDONLINE PAYMENT REPORT 2013Publication Date: June 2013About• provides secondary market research.• Market reports by inform top managers about recent market trends and assist with strategic company decisions.• has been committed to researching up-to-date, objective and demand-based data on markets and competitors from various industries since 2005.• In addition to reports on markets and competitors, also carries out client-specific research.• Clients include leading global enterprises from various industries including B2C E-Commerce, electronic payment systems, mail order and direct marketing, logistics as well as banking and consulting.
  2. 2. Twitter LinkedIn Google+ FacebookPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com2- -China B2C E-Commerce and Online Payment Report 2013General InformationB2C E-Commerce is gaining more and more ground in ChinaThe recent „China B2C E-Commerce and Online Payment Report 2013“ by Hamburg-based secondarymarket research company provides information about B2C E-Commerce and the movementtoward online and mobile purchase transactions in China.B2C E-Commerce is gaining more and more ground in China. According to forecasts, it is expected togrow by more than 30 percent annually between 2010 and 2016. A growing number of Chinese residentsuse social networks to purchase products online. Social Commerce is expected to become even moresignificant in China than in the USA. M-Commerce is also gaining in importance. Between 2011 and 2012,M-Commerce grew approximately fivefold.Overall, fashion, shoes and bags, as well as computers and household appliances are among the mostpopular product categories online. B2C E-Commerce with luxury goods is one of the leading trends.In recent years, this segment has grown more strongly than traditional B2C E-Commerce. LeadingChinese online retailers include Tmall, 360buy, Tencent and total online payment transaction value in China demonstrated strong quarter-on-quarter growthin 2011-2012.Third-party online payments, which are used by around a third of online shoppers inChina, were especially on the rise. Also, Alipay launched a mobile wallet application in China, offeringonline-to-offline payments.Key FindingsProduct DetailsLanguage: EnglishFormat: PDF & Power PointNumber of Pages/Charts: 90Covered Country: ChinaPricesSingle User License: € 1,950 (excl. VAT)Site License: € 3,900 (excl. VAT)Global Site License: € 5,850 (excl. VAT)
  3. 3. Twitter LinkedIn Google+ Facebook1. MANAGEMENT SUMMARY2. TRENDS• E-Commerce Trends in China, 2012• B2C E-Commerce Trends in China, 2012• International B2C E-Commerce Trends in China,2012• B2C E-Commerce Trends in China, 2011/2012 andNumber of Online Shoppers, in millions, 2012f &2016f• B2C E-Commerce Trends among Women in China,2011• Luxury B2C E-Commerce Trends in China,2011/2012 and Luxury B2C E-Commerce Sales,in CNY billion, 2010-2012f• The Bachelor’s Day in Chinese B2C E-Commerce,2012• Breakdown of Gross Merchandise Volume ofChina’s E-Commerce Market, by Type of Sale, in%, Q3 2012• B2C E-Commerce Delivery Trends in China, 2012• Mobile Shopping Inclination in China, comparedto India, Thailand, Vietnam, in % of Consumers,December 2011-February 2012• Social Shopping Trends in China, 2011/2012• Online Gaming Trends in China, 2012 and OnlineGaming Market Value, in RMB billion, 2012f &2015f• Browser-based and Client-based Online GamingMarket Trends in China, 2011• Browser-based Online Gaming Users in China, inmillions and in % annual Growth, 2010-2014f• Client-based Online Gaming Users in China,in millions and in % annual Growth, 2010-2014f• Online Gaming User Spending in China, in RMBbillion and in % annual Growth, 2009-2013f• Breakdown of Online Gaming Revenues by GameSegments in China, in %, 2009-2013f3. ONLINE PAYMENT• Used Online Payment Methods, by Used at LeastOnce and Most Frequently Used, in % of OnlinePayment Users, 2012e• Online Payment Trends, 2012 and Perception ofPayment Security, in % of Internet Users, June20123. ONLINE PAYMENT (cont.)• Total Online Payment Transaction Value, in CNYbillion, and in % Growth, Q2 2011 – Q3 2012• GMV of Third-Party Online Payment and Growthin %, 2009-2016f• Breakdown of Third-Party Online Payment GMV,by Segment, in %, 2012• Breakdown of Third-Party Online Payment Market,by Players, in %, Q3 2012• Number of Online Payment Users and Number ofMobile Payment Users, in millions, 2011 & 2012• Online Payment Penetration Rate, in % of InternetUsers, 2011 & 2012 and Mobile Penetration Rate,in % of Mobile Internet Users, 2011&2012• Mobile Payment Trends, 2012• GMV of Third-Party Mobile Payment and Growthin %, 2009-2016f• Breakdown of Third-Party Mobile Payment GMV,by Segment, in %, 2009-2016f• Breakdown of Confidence in Future of MobilePayment Usage, in % of Consumers, November2011• Total Online Banking Transaction Value, in USDtrillion, 2009-2014f• Mobile Payment News about Alipay, 2012/20134. SALES• B2C E-Commerce Sales in China, compared toAustralia, Indian, Japan, in USD billion,2012f & 2016f• B2C E-Commerce Sales in China, in CNY billion andin % Growth, 2007-2010 & 2016f• E-Commerce Sales in China, in USD billion and in% annual Growth, 2010-2016f• E-Commerce Sales in China, by Marketplace andB2C E-Commerce Sales, in USD billion,2009-2011 & 2015f• B2C E-Commerce Sales in China, in USD billion,Q2 2011 & Q2 2012• Gross Merchandise Volume of the E-CommerceMarket in China, incl. B2C and C2C, in CNY trillionand in % Year-on-Year Growth, Q1 2011-Q3 2012• M-Commerce Sales in China, in CNY billion, Q12011-Q2 2012e• Online Travel Booking Transaction Size in China,in RMB billion and Growth in %, 2009-2015fPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com3- -China B2C E-Commerce and Online Payment Report 2013Table of Contents (1 of 2)
  4. 4. Twitter LinkedIn Google+ Facebook5. SHARES• Share of B2C E-Commerce Sales on total RetailSales in China, in %, 2009-2011 & 2015f• Share of M-Commerce on total B2C E-CommerceSales in China, in %, Q1 2011-Q2 2012e6. PRODUCTS• Breakdown of B2C E-Commerce Sales in China,by Product Categories, in %, Q1 20127. USERS / SHOPPERS• Internet Users in China, in millions and in %of total Population, 2011-2016f• Internet Penetration Rate in China, in % of thetotal Population, 2007-2011• Internet Users in China, in % of Population,2009-2011 & 2015f and Online Shoppers, in %of Internet Users, 2009-2011 & 2015f• Online Shoppers in China, in millions and in % ofPopulation, 2010-2016f• Online Shoppers in China, compared to Japan andAustralia, in % of Internet Users, 2012f• Top 10 Provinces in China, by monthly OnlineShopping Orders, in millions,January 2011-November 20118. PLAYERS• Top 10 B2C E-Commerce Websites in China,by Number of monthly Users, in millions, 2011• Top 10 fastest growing B2C E-Commerce Websitesin China, by Year-on-Year Increase in Orders, in %,2011 vs 2010• Breakdown of E-Commerce Players in China,by Value of Online Transactions, in %, Q3 2012• Profile of Taobao Mall• Profile of 360buy Jingdong Mall• Profile of Tencent• Profile of Suning• Profile of Amazon• Breakdown of Platform-based B2C E-CommerceSites and of Independent B2C E-Commerce Sitesin China, by Revenues, in %, Q2 2012• Breakdown of Mobile Shopping Companies inChina, by Market Share, in %, Q2 2012• Top Six Online Gaming Companies in China,by Revenue, in RMB billion, 2010 & 2011• Companies by Market Share in the Client-basedOnline Gaming Market in China, in %, Q4 2011• News about Toys‘R‘Us, November 2012Phone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com4- -China B2C E-Commerce and Online Payment Report 2013Table of Contents (2 of 2)
  5. 5. Twitter LinkedIn Google+ FacebookPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com5- -SamplesChina B2C E-Commerce and Online Payment Report 2013SAMPLE OUTPUT: METHODSWe deliver the facts – you make the decisionsRESEARCH ON INTERNATIONAL MARKETSIn 2012, mobile payment transaction volume in Italy reachedEUR 17 million, up from EUR 11 million in 2007.Italy: Mobile Payment Transaction Volume, in EUR million, 2007-2012inEURbillion12,8% 13,7%14,4% 13,4%11,1%35404550 20%Methods Trends PlayersUsersTransaction Volume3inEURbillionin%Change12,8 15,817,014,111,911,311,1%9,3%0510152025302007 2008 2009 2010 2011 20120%10%Mobile Payment Transaction Volume % ChangeSource: to be mentioned in the reportSAMPLE OUTPUT: TRENDSWe deliver the facts – you make the decisionsRESEARCH ON INTERNATIONAL MARKETS As online shoppers become more global in the way they purchase products and services online, the payment methods need todo so too. A general tendency is that online shoppers only need a limited amount of different payment methods to obtain the globalreach they want. In addition, consumers tend to stay with the online payment methods they are familiar with. Also, the eastern and the western hemisphere do not offer the completely same payment methods. Online merchants that wantto operate on a global scale, however, need a service provider than can give them access to payment methods from everywhere. Payment providers, on the other hand, are expected to have a hard time increasing their number of consumers. Therefore,Offline and online payment methods are merging more and more, whichis expected to result in offline payment methods disappGlobal: Online Payment Trends, 2012Methods Trends PlayersUsersTransaction Volume Payment providers, on the other hand, are expected to have a hard time increasing their number of consumers. Therefore,payment providers that want to expand their reach often look for brand names based in other regions. Offline and online payment methods are merging more and more, which is expected to result in the offline payment methodsdisappearing completely. Mobile devices with Internet access allow making online payments from practically anywhere, also making it more difficult todistinguish between online and mobile payments. In order to gain market shares, online payment providers may add functionalities to their offering with the aim of distinguishingthemselves from their competitors. These added functionalities, however, may affect the checkout negatively in terms of speedand conversion. Leading global online payment systems are provided by PayPal and Amazon, with Google and China’s Alipay trying to increasetheir own market shares. Digital wallets are a rather new way of paying online and have been the topic of a battle between Google and Visa. Bothcompanies launched their respective versions called Google Wallet and, in order to get most market shares.2Source: to be mentioned in the reportSAMPLE OUTPUT: TRANSACTION VOLUME SAMPLE OUTPUT: PLAYERSWe deliver the facts – you make the decisionsRESEARCH ON INTERNATIONAL MARKETSBy 2016, “E-Money” is expected to account for 16% ofB2C E-Commerce sales in South Korea, up from 2% in 2012.Region A: Breakdown of B2C E-Commerce Sales, by Payment Methods, in %, 2012 & 2016fMethods Trends PlayersUsersTransaction VolumeOthers1,8%Money Transfers22,6%E-Money2,0%E-Money15,6%Other0,4%2012 2016f1Crecit Card73,6%Credit Cards61,2%Money Transfers20,5%Source: to be mentioned in the reportWe deliver the facts – you make the decisionsRESEARCH ON INTERNATIONAL MARKETSThe payment system RuRu was launched in Russia in June 2011 as acooperation between Alfa-Bank and VimpelCom.Russia: News about VimpelCom and Alfa-Bank, June 2011Methods Trends PlayersUsersTransaction Volume Alfa-Bank, a financial institution in Russia cooperated with VimpelCom, the operator of the Beeline mobile network in June2011 to launch the payment system RuRu, which was designed to allow online and mobile payments, P2P money transfersand mobile remittances. Utilities, telecoms services, fees for loans and payments to the Russian state, as well as train and air tickets andentertainment event tickets can be paid for using the RuRu platform.4entertainment event tickets can be paid for using the RuRu platform. Consumers need to link a default account to RuRu, which is debited every time a purchase is made through RuRu. Following the launch of RuRu, only the Beeline mobile account could be charged to transactions made using the paymentservice. However, it was planned to extend the service to include other mobile network operators as well. Besides mobile accounts, purchases made via Beeline can also be charged to WebMoney accounts, Visa and MasterCardcredit cards.Source: to be mentioned in the report
  6. 6. Twitter LinkedIn Google+ FacebookMethodologyPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com6- -China B2C E-Commerce and Online Payment Report 2013General Methodology of our Market Reports:• The reports include the results of secondary market research: By using various sources we ensure maximum objectivity for allobtained data. As a result companies get a precise and unbiased impression of the market situation.• Cross referencing of data was conducted in order to ensure validity and reliability.• The reports contain a Management Summary, summarizing the main information provided in each chapter.• Besides providing information on the specific topic, every chart contains an Action Title, which summarizes the main statementof the chart and a Sub Title, which gives information about the country, the topic, the unit or currency, and the time period thedataon the chart refers to.• Furthermore, the source of information and its release date are provided on every chart. It is possible that the information includedin one chart is derived from several sources. Then, all sources are mentioned on the chart.• If available, additional information about the data collection, for example the time of survey and number of people asked, isprovided in the form of a note. In some cases, the note (also) contains additional information needed to fully understand thecontents of the respective data.• When providing information about amounts of money, local currencies were mostly used. When referencing them in the ActionTitle, the EUR values are also provided in brackets. The conversions are always made using the average currency exchange ratefor the respective time period. Should the currency figure be in the future, the average exchange rate of the past 12 months isused.• The reports include mainly data from the last 12 months. The exact publication dates are mentioned in every chart.Methodology for our Online Payment Market Reports:• The Online Payment market reports include information about leading payment methods in B2C E-Commerce, recent trends onthe payment market, information about the online payment transaction volume, statistics about online payment users, as well asstrategic news about relevant players on the market.• The “Methods” chapter includes information about the leading payment methods in B2C E-Commerce in the relevant country orregion. For example, a breakdown of B2C E-Commerce sales by payment methods, or a ranking of the most popular paymentmethods could be included. These payment methods not only include payment procedures (such as credit card, bank transfer oronline payment), but also payment companies (such as PayPal, iDeal, etc.).• The “Trend” section includes mostly qualitative information about trends in online payment. The information included in thischapter allows the reader to identify future trends.• Moreover, the Online Payment report includes information about the “transaction volume” in online payment, for exampledevelopment of the volume over time.• The “Users” section includes statistics about online payment users, for example the number or the development over time.• Finally, the reports include strategic information about relevant players in online payment, for example about new products of a marketplayer, or the expansion to another market.
  7. 7. Twitter LinkedIn Google+ FacebookFrequently Asked QuestionsPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com7- -China B2C E-Commerce and Online Payment Report 2013WHAT IS THE TARGET AUDIENCE FOR THE MARKET REPORTS? The target group of our B2C E-Commece reports are decision makersin top-management, for example from the departments E-Commerce,Business Development, Strategy, Marketing, etc. from large corporations worldwide.IS THE INFORMATION IN THE MARKET REPORTS COMPARABLE FROM COUNTRY TO COUNTRY? Due to the fact that the information included in the market reports isderived from different sources, some information is not comparableacross countries. Different sources mostly have different definitions.WHAT TYPE OF RESEARCHERS ARE FINDING THE INFORMATION FOR OUR MARKET REPORTS? employs multilingual researchers that research andfilter all sources and translate the relevant information into English.This ensures that the content of the original sources is correctlyinterpreted.WHERE CAN I SEE WHAT KIND OF INFORMATION ISINCLUDED IN THE MARKET REPORTS? For every market report, a detailed Table of Contents is available,clearly stating what information is included. All Table of Contentscan be found on our homepage and in the product brochures of themarket reports.IN WHAT FORMAT ARE THE MARKET REPORTS DELIVERED? The market reports are delivered in PowerPoint and PDF format. If adifferent format is needed, please contact us before the purchase. Itwould also be possible to order printed versions of the reports for aslightly higher price.HOW LONG DOES IT TAKE ME TO GAIN ACCESS TO THEREPORT? In general, potential clients gain access to the report within a fewhours after sending out the report order form.HOW CAN I PAY FOR THE MARKET REPORT? An invoice issued by can be paid either by bank transferor by PayPal. Bank transfer usually takes a few working days, whilewith PayPal, the money is transferred immediately.DO I HAVE TO PAY TAX IF I PURCHASE A REPORT? Customers from Germany have to pay an additional tax rate of 19%.Customers from the European Union (EU) do not have to pay tax ifthey enter a valid VAT Identification Number into the report orderform. Customers from non-EU countries do not have to pay tax. Moreover, tax has to be paid for all private purchases from the EU.HOW MANY EMPLOYEES OF MY COMPANY HAVE ACCESSTO THE REPORTS? We offer different licensing options. Single User Licenses mean thatonly one user from an organization can access the report. A SiteLicense, allowing all users within a given geographical location toaccess the report, is available for double the price. Global SiteLicenses, allowing access to all worldwide users of an organization,are available for triple the price.REGARDING THE TIMING, WHEN WILL AN UPDATE OF AMARKET REPORT BE PUBLISHED?In general, the market reports are published on a yearly basis. Forfurther information, please take a look at the report overview, whichincludes a list of the reports we plan to publish in 2013. If you wouldlike to be informed as soon as the update is published, please informus.I HAVE A RESEARCH REQUEST THAT CANNOT BE ANSWERED THROUGH THE MARKET REPORTS. ARE THERE ANY FURTHER PRODUCTS?If you require further information, we also offer „Customized Research“ on all sectors and countries worldwide. After a detailedbriefing, we conduct pre-research and provide potential customerswtih an offer.HOW DO I ORDER A MARKET REPORT? If you would like to order, please fill out the report order form for themarket report included in the relevant product brochure. Afterwards,please sign it and send it back to us by fax or by e-mail.IS THE REPORT SENT TO ME BY E-MAIL? In general, we provide customers with access to our website. Afterlogging in, the customer can download the report as PowerPoint andPDF files.WHAT SOURCES ARE USED FOR THE MARKET REPORTS? The reports are all based on reliable sources including national andinternational statistical offices, industry and trade associations, business reports, business and company databases, journals, company registries, news portals and many other sources.WHAT TYPE OF ANALYSTS ARE WRITING THE MARKETREPORTS? After the information is researched, it is further analyzed by our international team of research analysts. These analysts have a longexperience in the field of E-Commerce research, and they understandthe specifications of the market.IS IT POSSIBLE TO PURCHASE ONLY SELECTED PARTSFROM A MARKET REPORT? In general, the market reports are only sold as a whole. However, ifyou are only interested in parts of the report, please contact us.DO YOU OFFER DISCOUNTS? Yes. “Report Bundle” offers 5 reports of your choice for only EUR8,900. This means that you can save more than 50%. Furthermore,another option offers a discount of 5% if the customer buys 1 report,and 20% if the customer buys 2 reports. If 3 reports are purchased, adiscount of 30% is offered.DO YOU OFFER AN ANNUAL SUBSCRIPTION OF THEMARKET REPORTS?Yes. Our product “Full Access Global E-Commerce Reports” givescustomers access to all our E-Commerce market reports. Furthermore, access to all the market reports we publish during thesubscription period is guaranteed.
  8. 8. Twitter LinkedIn Google+ FacebookSelected ReportsPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com8- -China B2C E-Commerce and Online Payment Report 2013Selected ReferencesInternet, Retail, Consulting, Finance and Other Companies Internet Companies: Retail Companies: Finance Companies: • Google • OTTO Group • Credit Suisse • Amazon • Costco • Morgan Stanley • eBay • Tchibo direct • Bank of America Merrill Lynch • Avira • Diesel • Goldman Sachs • Skype • Citigroup • Digital River • Oppenheimer & Co. • First Data • Citrix Online • Wirecard • 1 & 1 Consulting Companies: Other Companies: • Skrill / Moneybookers • Deloitte • BASF • Deutsche Telekom • Boston Consulting Group • Red Bull • CyberSource • Accenture • Lego • bwin Interactive Entertainment • Bain & Company • Beiersdorf • Brightcove • Xerox * Single User LicenseReport Publication Price Date (excl. VAT)*Global Online Payment Methods Report 2013 - First Half 2013 April 2013 € 4,450Asia-Pacific Online Payment Methods Report 2013 - First Half 2013 May 2013 € 2,450BRIC Online Payment Methods Report 2013 - First Half 2013 May 2013 € 2,450 Latin America Online Payment Methods 2013 - First Half 2013 May 2013 € 950North America Online Payment Methods 2013 - First Half 2013 May 2013 € 950Europe Online Payment Methods 2013 - First Half 2013 May 2013 € 3,450 Global B2C E-Commerce and Online Payment Report 2013 H1 2013 € 6,450Asia B2C E-Commerce and Online Payment Report 2013 H1 2013 € 4,950Russia B2C E-Commerce and Online Payment Report 2013 H1 2013 € 1,950Europe B2C E-Commerce and Online Payment Report 2013 H1 2013 € 4,950Global B2C E-Commerce Trends Report 2013 H1 2013 € 3,950
  9. 9. Twitter LinkedIn Google+ FacebookPhone: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 51info@ystats.comwww.ystats.com9- -China B2C E-Commerce and Online Payment Report 2013Report Order FormREPORT ORDER GmbH & Co. KGBehringstr. 28a, 22765 HamburgTelefon: +49 (0) 40 - 39 90 68 50Fax: +49 (0) 40 - 39 90 68 YOuR ORDER as FOllOws Call us at + 49 40 39 90 68 50Fax us at + 49 40 39 90 68 51 using the form belowScan and Email us at using the form belowcHOOsE YOuR lIcENsE TYPE aND REPORTsPlease confirm the license type you require: Single User License  Site License1 Global Site License2Report Title Publication Date Price (€)aN INvOIcE wIll bE sENT TO YOuR cOMPaNY. PlEasE cOMPlETE YOuR cONTacT DETaIls.Title: Mr/Mrs/Ms First NameLast NameJob TitleCompanyEmail AddressTelephone NumberFax NumberAddressCity State/ProvinceCountry Post Code/ZIPYour Order is subject to our Terms & Conditions as attached hereto.All Forms must have a signature to confirm your order:SignatureWhere did you find us? Google/Search Engine Google Adwords/Online Advertising Article in Trade Journal Press Release Social Media Recommendation Others: ________________________Note: Reports are provided in electronic PDF form. yStats.comwill contact you in the future to provide our free newsletter orother mailings. If you do not wish to receive our newsletter orother mailings, you may advise us of this. Your contact informa-tion will not be sold to other organizations.1) Site Licenses, allowing all users within a given geographicallocation of an organization to access the report, are availablefor double the price.2) Global Site Licenses, allowing all worldwide users of an orga-nization to access the report, are available for triple the price.EU Companiesmust supply VAT NoPurchase Order No(if required)Order Date
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In the event that the parties agree on a “Site License” under the Order Form, thismeans that all users within a given geographical location (as specified in the Order Form)of an organization shall be entitled to access the report. In the event that the parties agreeon a “Global Site License”, this means that all worldwide users of an organization shall beentitled to access the report. In both cases, the term “organization” refers to the company ofthe specific customer only and excludes any third parties including affiliates.4.4 We must expressly be named as the author of any data the customer processes further ascontractually negotiated.5. TECHNICAL INFORMATION5.1 We shall provide our Products in standardized data formats.5.2 The customer must ensure that he has the corresponding technical resources to make use ofthese data. The customer may not derive any claims in this connection on grounds of breachof obligation.6. DEFECTS AS TO QUALITY6.1 No claims for defects as to quality are triggered by insignificant discrepancies between ourproducts and services and the warranted quality or fitness for use.6.2 Likewise, no claims for defects as to quality may be derived from entrepreneurial risks –e.g., with regard to questions of entrepreneurial discretion, an erroneous assessment of themarket situation or the failure to recognize a business action’s merit.6.3 Defect-based claims are further excluded in cases of excessive or improper use or in connec-tion with damages caused by extraordinary conditions not reflected in the Order Form. Thisis also true in cases of subsequent changes made by the customers or third parties unlesssuch changes do not affect the analysis and removal of a given defect.6.4 Claims for defects as to quality expire within one year from the commencement of the legalstatute of limitation. This limitation does not apply to the extent that applicable law stipu-lates a longer period in cases of intentional or grossly negligent breaches of duty on the partof us, fraudulent concealment of a defect and injuries to life, body and health.6.5 Claims for damages and the reimbursement of expenditures are further subject to Section 8.7. LEGAL DEFECTS7.1 We are liable for products and services infringing on third-party rights only if and to theextent that our products and services are used in accordance with the agreed contractualrequirements.7.2 Unless agreed otherwise, our liability for the infringement on third-party rights is limited tothe territory of the European Union and the European Economic Area as well as the place ofits services’ proper use as agreed under the applicable Order.7.3 In the event that a third party asserts claims against the customer, alleging that a serviceperformed by us violates its rights, the customer shall promptly notify us. If a servicerendered by us violates thirdparty rights, we shall choose one of the below actions, dulytaking into consideration the customer’s interests: a) procuring for the customer the right to use the service; b) revising the service to render it free of legal violations; or c) withdrawing the service and refunding to the customer any related compensation paid,as adjusted by an adequate user fee, if we cannot effect another remedy at a reasonableexpense.7.4 Upon our request, the Customer shall assist us with the defense against claims according tothis section 7, with us reimbursing the Customer for any expenditures and costs incurred asa result, although each of the Parties bears the costs of the use of its own personnel.7.5 Claims the Customer may hold for legal defects expire in accordance with Section Claims for damages and the reimbursement of expenditures are further subject to Section 8.8. LIABILITY8.1 In cases of intentional misconduct and gross negligence, we are fully liable pursuant toapplicable law.8.2 Our liability in cases of simple negligence is limited as follows: we are liable only if and tothe extent that we violated a material contractual obligation (cardinal obligation) – i.e., anobligation that (i) the Customer reasonably relied upon at execution of the applicable OrderForm and (ii) was of critical significance to the outcome of performance. As regards propertydamage and financial loss, such liability is limited to typical and foreseeable damages; in noevent will we be liable for any incidental, special, punitive or consequential damages, loss ofprofits or loss of data in such case.8.3 Our liability for damages under warranties (Beschaffenheitsgarantien) is limited to instancesin which the warranty expressly includes such liability.8.4 Claims for the reimbursement of expenditures and other liability claims asserted by theCustomer against us are subject to sections 8.1 through 8.3.9. CONFIDENTIALITY9.1 The Parties shall hold in strict confidence for an indefinite period of time all data andinformation materials of which they gain knowledge as part of a Contract, be it orally, inwriting or otherwise, directly or indirectly, provided that such data or information materialsare designated confidential or must be considered confidential based on their nature, andshall use them exclusively as part of the services covered by the relevant Order. This duty ofconfidentiality excludes data and information materials that: a) were already known or accessible to any third party at the time of disclosure; b) one of the parties legitimately receives from a third party following disclosure, and suchthird party is not bound by a duty of confidentiality in relations with the other Party; c) must be disclosed by order of and to a government agency or another competent thirdparty; and d) must be disclosed to legal or tax advisors of the contractual customer in question forconsulting purposes. In the cases of Sections c) and d), the parties shall (i) promptly inform each other about agiven request and prior to disclosing confidential information, and (ii) limit the disclosure ofconfidential information to the minimum required.9.2 We may use the Customer as a reference so long as no contractual details are divulged.10. JURISDICTION, GOVERNING LAW, MISCELLANEOUS10.1 Place of payment is Hamburg, Germany.10.2 All disputes arising from or in connection with any Contract between the parties shall beresolved through the courts of Hamburg. Governing law is German law.