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Agricultural Development Bank of China
Industry

Online shopping boosts consumption in China amid epidemic

April 21, 2020


Abstract : Affected by the COVID-19 epidemic, many Chinese consumers turn to online shopping when staying indoors, boosting stay-at-home economy, live-streaming e-commerce and cloud shopping that reflect the new trends in China's consumer market.

BEIJING, April 21 (Xinhua) -- Affected by the COVID-19 epidemic, many Chinese consumers turn to online shopping when staying indoors, boosting stay-at-home economy, live-streaming e-commerce and cloud shopping that reflect the new trends in China's consumer market.

In the first quarter, the online retail sales of physical goods in China rose 5.9 percent year on year to 1.85 trillion yuan, bucking against the downward trend of the total retail sales of consumer goods, which declined 19 percent year on year to 7.86 trillion yuan during the period, according to data from the National Bureau of Statistics (NBS). In March, the online retail sales accounted for 23.6 percent of the total retail sales of consumer goods.

Behind the online shopping boom was the live-streaming e-commerce strategy launched by relevant enterprises, including short video platforms like Douyin and Kuaishou and e-commerce giants such as Taobao, JD.com and Pinduoduo.

Consumers are easily inspired to place orders online as live-streaming e-commerce enables real-time interaction and provides appealing discount, according to Helen Wong, partner of Qiming Venture Partners.

The consumption potential will be gradually unleashed with the fast growth of new consumption formats and Internet-backed consumption modes, Mao Shengyong, spokesman of NBS said at a recent press conference. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: e-commerce online shopping

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