Online shopping bolsters recovery | 支付宝网购节有效提振消费

idyear shopping festival, which not only stimulated purchasing by consumers that was dampened by COVID-19 flare-ups, but also bolstered the recovery of the economy.

With the pandemic contained more effectively and several policies to shore up consumption, China's consumer market is expected to post growth momentum in the second quarter and gradually recover from the impact of COVID-19, Wang said. She estimated that spending on big-ticket items and service-related consumption will see a strong rebound in the second half of the year.

Sharry Wu, EY Greater China consulting business transformation leader, said "We still see a strong investment appetite from all brands during such an important shopping festival which could contribute to over 30 percent of full year sales."

"People are eager to spend on things they have not tried or experienced before. New brands are now contributing up to 40 percent of e-commerce sales growth, according to recent research, and interest in local fashion brands has outpaced international brands," Wu said, adding that the main challenge will be how enterprises can better adapt to omnichannel consumption.

On-demand retail has become a key driver for offline retailers and the growth of omnichannel brands. Dada Group, a Chinese on-demand delivery and retail platform, said total sales rose 77 percent year-on-year between May 31 and Saturday, while the number of users placing orders through Shop Now, a one-hour delivery service, soared 400 percent compared with the same period last year.

Source: Ecns.cn

Editor: Gao Xin

Senior Editor: Wang Luyao

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