Online shopping and re-upgrading unleashes the new potential of consumption

| gov.cn

This year's "double 11", the major e-commerce platform transaction data set a new record: 11 days, Alibaba platform transactions exceeded 268.4 billion yuan; from 00:00 to 24:00 on November 1, JD.com platform issued a total of 204.4 billion yuan; SUNING's one-hour orders increased 89 per cent from a year earlier.

Behind the huge transaction volume is the huge consumption potential. According to the data, in 2018, the contribution rate of final consumer expenditure to China's GDP growth has reached 76.2%, and the expansion of the domestic demand market has become the core driver of China's steady economic growth. From the point of view of the whole industry, Internet consumption still maintains a relatively rapid growth. As of June 2019, the number of online shopping users in China has reached 639 million, an increase of 28.71 million compared with the end of 2018, accounting for 74.8% of the total number of Internet users.

At the same time of quantity growth, we can also see that online shopping itself is also undergoing changes, it is this change that promotes the upgrading of online shopping and releases more consumption potential.

"in terms of geography, the sinking market represented by small and medium-sized cities and rural areas has expanded the growth space of network consumption, and the e-commerce platform has accelerated the sinking of channels; In terms of format, cross-border e-commerce retail imports continue to grow, good policies to further promote the development of the industry; in terms of model, live delivery, factory e-commerce, community retail and other new models flourish, becoming a new bright spot in the growth of online consumption. " Zeng Yu, director of the China Internet Network Information Center.

Online shopping not only affects consumers, but also deeply affects producers and sellers. On the production line of Anhui Dili Daily Glass Co., Ltd., rows of unconventional size covered glass bowls are arranged neatly. Cheng Yingling, senior vice president of Dili, told reporters: "generally speaking, the capacity of glass bowls sold in the market is 720ml, but this one is 1.5L. This is a new product 'tailored' according to the consumer preference data provided by pinduoduo." Sales are particularly good. "

Not only pinduoduo, but other e-commerce platforms are also doing their best to respond to consumers' rising enthusiasm for "buying".

Consumers in the sinking market are being taken into account more in terms of services. Han Rui, head of the platform Business Center of JD.com Retail Group, admitted that the increasing consumer demand of sinking market users has become an important opportunity for e-commerce platform. "in order to meet the demand of sinking market users for cost-effective products, We upgraded the 'big second kill' business. 'JD.com second kill' occupies the golden position on JD.com 's home page, while 'brand flash purchase' is a promotional channel with brand sales as the core. In addition, it includes live delivery, content 'recommendation', and so on. Are allowing more channels for goods to reach sinking market consumers.

E-commerce platform is also through the further integration of offline retail, with a new format to respond to the new needs of consumers. Hou Enlong, president of SUNING, said that this year, SUNING will realize "scene retail" for the first time, create his own "one-hour scene life circle," and "rely on 300 urban communities to cover more than 10,000 stores + front positions." SUNING can promise to deliver the goods home in 30 minutes within 1 kilometer. " (reporter Chen Jing)

Online shopping and re-upgrading unleashes the new potential of consumption

| gov.cn

This year's "double 11", the major e-commerce platform transaction data set a new record: 11 days, Alibaba platform transactions exceeded 268.4 billion yuan; from 00:00 to 24:00 on November 1, JD.com platform issued a total of 204.4 billion yuan; SUNING's one-hour orders increased 89 per cent from a year earlier.

Behind the huge transaction volume is the huge consumption potential. According to the data, in 2018, the contribution rate of final consumer expenditure to China's GDP growth has reached 76.2%, and the expansion of the domestic demand market has become the core driver of China's steady economic growth. From the point of view of the whole industry, Internet consumption still maintains a relatively rapid growth. As of June 2019, the number of online shopping users in China has reached 639 million, an increase of 28.71 million compared with the end of 2018, accounting for 74.8% of the total number of Internet users.

At the same time of quantity growth, we can also see that online shopping itself is also undergoing changes, it is this change that promotes the upgrading of online shopping and releases more consumption potential.

"in terms of geography, the sinking market represented by small and medium-sized cities and rural areas has expanded the growth space of network consumption, and the e-commerce platform has accelerated the sinking of channels; In terms of format, cross-border e-commerce retail imports continue to grow, good policies to further promote the development of the industry; in terms of model, live delivery, factory e-commerce, community retail and other new models flourish, becoming a new bright spot in the growth of online consumption. " Zeng Yu, director of the China Internet Network Information Center.

Online shopping not only affects consumers, but also deeply affects producers and sellers. On the production line of Anhui Dili Daily Glass Co., Ltd., rows of unconventional size covered glass bowls are arranged neatly. Cheng Yingling, senior vice president of Dili, told reporters: "generally speaking, the capacity of glass bowls sold in the market is 720ml, but this one is 1.5L. This is a new product 'tailored' according to the consumer preference data provided by pinduoduo." Sales are particularly good. "

Not only pinduoduo, but other e-commerce platforms are also doing their best to respond to consumers' rising enthusiasm for "buying".

Consumers in the sinking market are being taken into account more in terms of services. Han Rui, head of the platform Business Center of JD.com Retail Group, admitted that the increasing consumer demand of sinking market users has become an important opportunity for e-commerce platform. "in order to meet the demand of sinking market users for cost-effective products, We upgraded the 'big second kill' business. 'JD.com second kill' occupies the golden position on JD.com 's home page, while 'brand flash purchase' is a promotional channel with brand sales as the core. In addition, it includes live delivery, content 'recommendation', and so on. Are allowing more channels for goods to reach sinking market consumers.

E-commerce platform is also through the further integration of offline retail, with a new format to respond to the new needs of consumers. Hou Enlong, president of SUNING, said that this year, SUNING will realize "scene retail" for the first time, create his own "one-hour scene life circle," and "rely on 300 urban communities to cover more than 10,000 stores + front positions." SUNING can promise to deliver the goods home in 30 minutes within 1 kilometer. " (reporter Chen Jing)