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Can online shopping promote consumption growth?

by:KingKonree     2021-07-16
In recent years, online shopping has become more and more popular. When you see couriers carrying and mailing packages on the corridor all day, do you think that online shopping must promote consumption? However, statistics cannot show that the rapid growth of online shopping has contributed to total consumption. Moreover, the growth rate of total retail sales of social consumer goods has been declining over the years. You might say that if there is no online shopping, the decline in social consumption growth will be even more severe. In this regard, we can perform a detailed analysis of the data.   In addition, online shopping has brought great convenience to people’s lives and saved people’s precious time; however, the environmental pollution caused by online shopping has not been paid enough attention. Therefore, it is necessary to analyze the pros and cons of the economic and environmental impact of online shopping.  Online shopping data is very useful for macroeconomic analysis.  Online shopping is achieved through online payment. Therefore, the statistical data obtained by online shopping should be more realistic than the consumption data of department stores, supermarkets or specialty stores. I remember that in the middle of 2016, the Ant Financial Research Institute published online shopping data (via Alipay), which is of great reference for comparing the economic development degree and the income level of residents among various provinces and cities across the country. For example, although Zhejiang’s per capita GDP level lags behind that of Jiangsu in 2016, its per capita online shopping consumption surpasses that of Jiangsu, which may indicate that its GDP is relatively high (disposable income per capita/GDP per capita); Guangdong’s total GDP is the first in the country , But only ranked eighth per capita, and online shopping ranked seventh, indicating that Guangdong’s per capita GDP is relatively real and credible. In addition, the online shopping data of Tibet and Hainan are relatively high, which seems to be related to the use of online shopping to solve traffic inconvenience; but the data of Shandong, Henan, Hebei and other provinces are a bit abnormal. For example, Shandong ranked ninth in per capita GDP in 2016. However, the per capita online shopping consumption data ranked only 17th in the first quarter. However, because the government does not publish online shopping data by provinces and cities, and although BAT has a great advantage in obtaining big data, they are not obliged to publish their own statistical data. Therefore, scholars are still studying the authenticity of macro data. There are certain shortcomings.  Online shopping and shopping in supermarkets and department stores: It seems that one has to go with the other.   The domestic online shopping started to develop in about 2011. Since the online shopping data published by the Ministry of Commerce is earlier than that published by the Bureau of Statistics, and the frequency of publication is higher, the following figure uses relevant data from the Ministry of Commerce. The data shows that before 2013, the annual sales growth rate of major domestic supermarkets and department stores was more than 10%, and it began to decline after 2013. According to data from the National Bureau of Statistics, in 2017, the retail sales of supermarkets and department stores in retail units above designated size increased by 7.3% and 6.7% respectively compared with the previous year. However, the sales data of key circulation enterprises calculated by the Ministry of Commerce were higher than those of the state. The Bureau of Statistics is more than half lower. The growth rate of online shopping for physical goods and the growth rate of sales in supermarkets and department stores. Source: Ministry of Commerce, China and Thailand Securities Research Institute Macro Yang Chang. Compared with department stores, the growth rate of supermarket sales has declined faster than department stores since 2017. In fact, the relationship between supermarket consumption and physical online shopping is also the closest. In other words, in the past, people were used to buying food and daily necessities in supermarkets. Nowadays, many people no longer go to the supermarket, but directly buy daily necessities online.   Compared with the continuous decline in the sales growth rate of supermarkets and department stores, the growth rate of online retail sales has risen sharply. According to the National Bureau of Statistics, the national online retail sales in 2017 was 7,175.1 billion yuan, an increase of 32.2% over the previous year. Among them, the online retail sales of physical goods was 5,480.6 billion yuan, an increase of 28.0%, accounting for 15.0% of the total retail sales of consumer goods; among the online retail sales of physical goods, food, clothing and other commodities increased by 28.6%, 20.3% and 30.8, respectively. %.
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