China's e-commerce logistics index up in October

China

China's e-commerce logistics index up in October

2024-11-11 05:16 Last Updated At：15:57

China's e-commerce logistics index, which measures logistics operations within the e-commerce sector, reached 115 points in October, an increase of 0.6 points from September, according to data released Monday by the China Federation of Logistics and Purchasing (CFLP).

Experts said that the e-commerce logistics index in October thrived due to strong online shopping driven by sales promotions from major e-commerce platforms and the ongoing trade-in program for home appliances.

The sub-index for the sector's total business volume rose by 2.5 points from the previous month to 133.7 points, marking a new five-year high, according to data from the CFLP.

Regionally, the northeastern region saw the largest increase in its total business volume index.

"China's e-commerce logistics index showed a slight rebound in October, and the demand for e-commerce logistics has also steadily recovered as online consumption was boosted by large-scale equipment upgrades, trade-ins of consumer goods, as well as increased subsidies for consumer goods such as home appliances, clothing, and daily consumables," explained Liu Yuhang, director of the China Logistics Information Center.

In October alone, the inventory turnover rate index rose by 0.8 points from the previous month, driven by an increase in business volume.

Given the sales promotions launched by numerous e-commerce platforms for the annual 'Double 11' online shopping spree on Nov. 11, analysts predict that the e-commerce logistics index will continue to rise in November.

Shanghai launches specialized fair for time-honored brands to spur consumption

A specialized fair opened in downtown Shanghai on Friday, aiming at breathing new life into China's time-honored brands and bolstering their appeal among modern consumers.

The event serves as a key platform to showcase the heritage of these iconic labels by integrating traditional craftsmanship with contemporary market trends.

A total of 44 quality time-honored brands gathered at the fair showcasing their classic products and innovated versions.

"We saw many new products [of the time-honored brands]. They are improved versions," said Chang, a local resident.

Time-honored brands are the pacesetters of Chinese industrial and commercial development. They embody a mix of fine Chinese cultural traditions, the nostalgia of everyday life, and rich economic and cultural values, making them popular among consumers.

In recent years, Shanghai has stepped up its efforts to nurture and support these brands, encouraging them to preserve their heritage while driving growth through innovation, thereby helping to continuously stimulate consumer demand.

Some brands maintain an annual product refresh rate of around 30 percent and have launched numerous hit products through cross-industry collaborations and business model innovations.

"Young designers make up a large proportion of our team. We also do collaborations with popular IP characters, using modern aesthetics to reinterpret traditional crafts in our designs," said Cao Jingyi, a jewelry designer from a Chinese time-honored brand.