11 de September de 2024 - zeumat
So far this year, China’s electronic retail market has shown a steady growth trend, and online shopping has become an important avenue for consumers’ daily purchases, driving steady growth in overall consumption.
According to statistics, from January to July this year, the country’s online retail sales amounted to more than 1 trillion euros, a year-on-year increase of 9.5%. Among them, online retail sales of physical goods amounted to 890 billion euros, accounting for 25.6% of total retail sales of consumer goods.
This trend not only reflects the rapid development of e-retailing, but also shows the strong market pull of new e-commerce models, such as live streaming. The consumption of services has become another new driver of e-retailing. For example, online travel and hospitality services have shown significant growth. From January to July this year, travel grew by 51.1% year-on-year, while hospitality increased by 20.8%, demonstrating the driving effect of e-commerce on the lifestyle services industry.
The renewal policy has become one of the strengths of e-commerce, driving significant growth in sales of household appliances and other commodities, with sales of televisions, washing machines and refrigerators rising sharply in July.
During the Paris Olympics and other sporting events, e-commerce platforms carried out promotional activities with the help of hotspots, and innovated the ‘sports + e-commerce’ mode to promote consumption diversification. In addition, rural e-commerce stimulated sales of agricultural products through village broadcasting IPs, and e-commerce sales of agricultural products increased by 20.1% year-on-year from January to July.
As for the global market, China’s e-commerce internationalisation is also accelerating. With the advancement of the Belt and Road Initiative, the ‘Silk Road e-commerce’ has gradually become a new impetus for international cooperation. Through the cross-border e-commerce platform, more high-quality foreign products have entered the Chinese market, and high value-added products made in China have become globalised.
Today, Chinese consumers can drink red wine from France as soon as one day after placing an order; foreign consumers can wear the latest fashion from China in two or three days by clicking the mouse on the e-commerce platform. In the first half of this year, around 9 million shipments travelled between China and the world every day. Chinese products can be delivered quickly to consumers in several countries, while more and more high-quality products are also entering the Chinese market through cross-border e-commerce platforms.
Customs data show that China’s cross-border e-commerce imports and exports in the first half of the year were 153 billion(approx), a year-on-year increase of 10.5%, higher than the country’s overall foreign trade growth rate at 4.4%
“ ‘China’s cross-border e-commerce imports and exports continue to maintain a stable growth rate,’ said Li Xingqian, director of the Foreign Trade Department of the Ministry of Commerce.
Analysing market data, imports and exports between China and other countries such as France, Belgium, Spain and Malaysia grew at a faster pace. From the commodity point of view, consumer goods are the main export products, in which some high value-added products have a rapid growth momentum, such as office equipment exports increased by 50.7% year-on-year, camera exports increased by 30.7% year-on-year, and so on. Domestic consumers also favour a large number of foreign imports, such as food imports, up 22.8% year-on-year, and handbags, up 70.8% year-on-year. From a regional perspective, coastal areas such as Guangdong and Zhejiang are the mainstay of cross-border e-commerce imports and exports, accounting for almost 90% of the country’s cross-border e-commerce imports and exports.
With China’s opening up to the outside world and the promotion of the ‘Belt and Road’ initiative, China’s e-commerce industry will accelerate the process of internationalisation and improve its international competitiveness by expanding overseas markets and cross-border e-commerce platforms to promote Chinese products in the world and introduce high-quality goods from abroad.
In the future, technological advances will drive personalised services and online-offline integration, providing consumers with a better shopping experience. Despite challenges in trust, cybersecurity and logistics, the e-commerce market is promising with rising incomes and improved consumption, and the development of cross-border e-commerce offers new opportunities for globalisation.
Written by: Wenyang Zhong
Source:gov.cn
