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This year in one minute –China’s continuous e-commerce boom

(People's Daily Online)    15:32, November 13, 2019

Despite rising trade tensions, e-commerce in China has gone from strength to strength this year, accounting for 20 percent of the overall retail sales of consumer goods in the first 6 months of the year.

Stats showed online retail sales in rural areas reached $111 billion in the first half of the year, up 21 percent, meaning it isn’t just first tier cities cashing in on online sales.

The country’s shopping festivals have a large part to play in these crazy figures. China saw record high sales during this year’s “618” festival, with consumers buying more goods than ever before.

In this year’s Double Eleven, Alibaba sold its first 10 billion yuan in just 96 seconds.

Despite increased competition and rising advertisement costs, successful online sellers have used tech such as livesteaming sites to beat the competition, helping buyers connect with products they like. Stricter regulations have also been implemented on seller platforms, meaning buyers are more trusting of reviews and quality.

E-commerce affects the economy and was expected to create 48 million jobs last year, with many so-called “taobao villages” popping up all over the country, as well as new jobs in delivery and cross-border e-commerce.

And finally, the internet and e-commerce sectors continued to be the major draw for job-hunting graduates this year, showing the sector certainly won’t be slowing any time soon. 

 

For more stories about Double Eleven:

From Single’s Day to the largest global online shopping feast: Stories of China’s Black Friday

Infographics: Double Eleven in numbers

 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)
(Web editor: Hongyu, Bianji)

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