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China's e-commerce helps global economic recovery

Date:2021-08-18  Hits:69
According to an article in wired, a well-known American economic magazine, China's e-commerce realizes its own development and helps farmers get rid of poverty by encouraging farmers to use digital tools and other "help farmers" programs.

CNN released a video report, showing in detail the scene of live delivery sweeping China. The new mode of live broadcasting with goods has become a new popular symbol of China's Internet.

According to the US Jingshi business daily, the old saying that China has entered the e-commerce field through copying and promoting the model of Silicon Valley in the past 10 years has gone forever. Today, from the upsurge of webcast to all-weather customer service, China's innovative model is shaping global e-commerce, so that we can have a glimpse of the future form of shopping. The following are China's four innovations: first, "shopping is entertainment" or "competing for time share"; Second, "explore childlike innocence" or "addiction is conducive to sales"; Third, "create your own shopping festival"; Fourth, "never stop shopping" or "provide you with 24-hour service".

Compared with developed countries, China's Internet industry started not early. Now it can reach an advanced level in the field of e-commerce thanks to China's unique advantages and characteristics. In fact, if we look at the four models pointed out by foreign media from another angle, we will gain more interesting discoveries.

"Shopping is entertainment", in fact, is to enrich the consumption ecology through scenario consumption, weaken the single behavior of shopping, and make people willing to pay through experiential consumption, which also represents an important evolution direction of the service industry in the future“ Addiction is conducive to sales "and" all-weather service "also lengthen the shopping time limit and enrich the shopping experience“ Building a "Shopping Festival" is based on China's huge consumer market to realize the centralized release of concentrated resources, which is very important to further open the global market and improve the influence of the domestic market.

China's e-commerce development model also has the following unique features: first, it is the integration of e-commerce and physical production, such as the industrial belt development model, which aggregates the supply chain in geographical space through e-commerce publicity and engagement, and forms a competitive industrial belt relying on local characteristics; Secondly, the innovation of e-commerce itself is also an innovation. It catches the attention of consumers through new formats such as webcast and star carrying goods, so as to alleviate the problem of information asymmetry between supply and demand to a certain extent.

China can form a unique e-commerce development model mainly for the following reasons: China has huge consumption potential and huge consumption market, and the fully released consumption capacity ensures the development momentum of e-commerce; With the implementation of the government's supporting policies for the development of digital economy, China's relevant industries have made steady progress in scientific and technological innovation, ensuring the continuous iterative upgrading of e-commerce model; China's consumer market has a high acceptance of new things. online shopping has changed Chinese people's consumption habits in just a few years.

In terms of development scale, according to the data of China Internet Information Center, the transaction volume of China's mobile e-commerce market is expected to exceed 8 trillion yuan in 2020, an increase of 19.7% over 2019. From the perspective of development quality, the relationship between e-commerce and industry is becoming closer and closer. With the help of e-commerce forces, including major e-commerce platforms, a competitive digital economy highland has been formed in various regions. Especially in promoting rural revitalization, e-commerce has helped many farmers get rid of poverty through a series of measures such as rural logistics, and led many poor areas to get a free ride on the digital economy.

At present, the global epidemic situation is still severe, the world economic recovery is still difficult, and China's e-commerce has made great contributions to promoting the global economic recovery. From the production side, China's production order was restored earlier, which led to the recovery of relevant international industrial chains through cross-border e-commerce and other formats, and helped many enterprises affected by the epidemic rebuild their supply chains. From the demand side, the mature e-commerce model has formed an ecology of "buying the world and selling the world" in China, further integrating the Chinese market into the international market and providing a continuous driving force for the recovery of the world economy.

In the future, China's e-commerce development model will have the following new trends: first, it will be more closely connected with the real industry. With the deepening of digitization, the participation of e-commerce in the production field will be improved, further shorten the market matching time of intermediate products, engage all links of the industry, and improve social productivity and anti risk ability; Second, due to the continuous product quality disputes between star and anchor products, consumers will more believe in what they "see with their own eyes". Now, some manufacturers have begun to explore the live broadcasting of production lines to directly let consumers better understand the products through the lens and promote information symmetry; Third, the e-commerce model will further introduce the power of the demand side and bring the wishes of consumers into enterprise production, which will help to develop a new network customization model and further meet the differentiated needs of consumers( Interviewed expert: Pan Helin, executive director of Digital Economy Research Institute of Central South University of economics and law)

(source: People's Daily Overseas Edition original title: China's e-commerce helps global economic recovery (expert interpretation))
 
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