E-Commerce Stimulates Greater Consumption Potential

In the first half of this year, China's consumer market showed a steady recovery and sustained recovery, which played an important role in supporting the stable recovery of the economy. Among them, online sales maintained a rapid growth, and online retail sales of physical goods increased by 18.7% year-on-year.

With the rapid development of new formats and models such as live e-commerce, the integration of online and offline consumption modes has accelerated, which has injected strong impetus into the consumer market.

"This dress is not only fashionable in style, but also comfortable in fabric. If you like it, please click the link to place an order." Recently, Wang Rui, an e-commerce anchor of a clothing brand, was selling her products to the camera with a sun proof suit at the youth live broadcasting base of the international network batch center of Shishi Youth Innovation City in Fujian Province. On the day of this year's "618" sales promotion, she alone broadcast the sales volume of goods with her, catching up with the sales volume of the whole store "618" last year.

In the first half of this year, the recovery momentum of China's consumer market has been continuously strengthened, among which online sales have maintained a rapid growth. In the first half of the year, online retail sales of physical goods increased by 18.7% year-on-year, 4.4 percentage points higher than the same period last year; The average growth rate in the two years was 16.5%, 1.1 percentage points faster than that in the first quarter. Driven by new formats and models such as live e-commerce and fresh e-commerce, e-commerce injects more power into the consumer market.

　　 Live e-commerce shows strong ability to carry goods

"I've been a anchor for several years, and the volume of goods with me is getting bigger every year." Xu Fei, an e-commerce anchor, started her own road of carrying goods live since 2016. After more than five years of experience, this year, during the "618" promotion period, the daily sales volume of goods with goods exceeded 20 million yuan. In her opinion, the live broadcasting industry will become more and more mature, and consumers will be more rational. Anchors need to be more vertical and professional in order to better serve consumers.

In recent years, with the rapid development of new formats and models, live e-commerce has shown a strong ability to carry goods. According to the 2021 Research Report on China's live e-commerce industry released by the Research Institute of China international e-commerce center of the Ministry of Commerce, as of the end of last year, the number of live online users in China reached 617 million, including 388 million users of e-commerce. In 2020, the overall scale of live delivery in China will exceed 1 trillion yuan, and it is estimated that the scale will be close to 2 trillion yuan in 2021. During the "Shuangpin Online Shopping Festival" (brand building and quality consumption) held by the Ministry of commerce at the end of April, there were about 710000 live broadcasts on the whole network, with a total of 4 billion people watching.

Offline shopping malls and shopping malls are also accelerating the embrace of the new format of live delivery. In the first half of this year, the live sales of Yintai department store increased significantly year on year. Online shopping malls, live with goods also gave birth to a new occupation of live sales. Unlike traditional salesmen, their main job is to serve customers in the live room and ensure that customers can get a good shopping experience.

Thanks to the development of live with goods, online and offline consumption patterns have accelerated the pace of integration. New technology and new business model change the original consumption mode. Live delivery with goods opens up many consumption scenarios online and offline, providing consumers with high-quality shopping experience.

　　 Sales of upgrading products are growing rapidly

In the first half of the year, driven by the new formats, the growth of consumption upgrading goods accelerated. In the second quarter, the average growth rate of retail sales of cosmetics, gold, silver and jewelry, and sports and entertainment products increased by 3.2, 1.7 and 2.9 percentage points respectively compared with the first quarter.

The "small but beautiful" network brand has become a highlight of consumption. This kind of brand creation time is generally short, after network cultivation, it forms strong competitiveness rapidly in the subdivision field. In the "Shuangpin Online Shopping Festival", the retail sales of some "small and beautiful" online brands such as some floor washing machines, electric toothbrushes and cosmetics all grew by more than 100% year-on-year.

Personalized customization has become a new consumption trend. The e-commerce platform gives full play to the advantages of big data, accurately matches the supply side and the demand side, and constantly meets the consumption needs of young groups. In the "Shuangpin Online Shopping Festival", the online retail sales of customized furniture increased by 95.4% year on year.

In the first half of the year, online service consumption also accelerated its recovery“ During the "Shuangpin Online Shopping Festival", online catering sales increased by 51.1% year-on-year. In the first half of the year, China's catering revenue increased by 48.6% year-on-year, and the scale of catering consumption basically recovered to the level of the same period in 2019. Relying on the smart tourism platform, all localities accurately forecast and manage the passenger flow. The online tourism sales increased by 3.3 times year-on-year, and the trend of high-quality travel is obvious.

　　 The consumer market recovered steadily and continued to warm up

According to the relevant person in charge of the Ministry of Commerce, in the first half of the year, China's consumer market showed a steady recovery and sustained recovery, which played an important role in supporting the stable recovery of the economy. In the first half of the year, China's total retail sales of consumer goods increased by 23% year-on-year, and the contribution rate of consumption to GDP growth rose to 61.7%. Compared with that in 2019, the total retail sales of consumer goods in the first half of this year increased by 9%, including 8.5% in the first quarter, 9.4% in the second quarter, and 0.9% higher in the second quarter than in the first quarter.

Automobile and other large-scale consumption increased rapidly. In the first half of the year, the auto retail sales reached 2.2 trillion yuan, up 30.4% year on year, contributing 13% to the total retail sales of consumer goods.

Cultural tourism consumption has accelerated its recovery. The box office revenue of the film will return to nearly 90% in the same period of 2019, and the passenger traffic volume of railway and civil aviation will recover to nearly 80%. Red tourism, rural tourism and self driving tour are booming.

Green health intelligent consumption is popular. For example, sales of new energy vehicles accounted for 9.4% of automobile sales, and 5g mobile phone sales accounted for 73.4% of mobile phone sales.

"With the sustained and stable recovery of China's economy, more accurate and effective epidemic prevention and control, effective implementation of various policies and measures, and gradual increase in consumer confidence, it is expected that the overall consumer market will continue to develop towards a warmer and better direction." Zhu Xiaoliang, director of the Department of market operation and consumption promotion of the Ministry of Commerce, said that the Ministry of Commerce will firmly implement the strategy of expanding domestic demand, promote the implementation of various measures to comprehensively promote consumption, further stimulate market vitality and release consumption potential.

(source: People's daily)