In terms of digital transformation covering almost all industries, the successful integration of advanced information technology and traditional consumption is becoming a very important part of overall consumption. Particularly, due to the impact of the COVID-19 pandemic, offline retailing, foodservice, lodging, travel and entertainment even have been suspended in the first quarter of 2020, so these traditional industries have been enforced to accelerate digital transformation, shifting sales and operations online.
Identified as great consumer engagement, livestreaming and short videos enable consumers to ask the host questions and post comments in real time, while they also get pleasure from winning limited discounts compared to traditional online shopping scenarios, which mainly include graphs and pictures. Given the prolonged lockdown period, livestreaming and short videos have triggered high growth of “information + consumption”, increasing the social attributes of e-commerce simultaneously.
Alongside rural digital infrastructure construction, telecommunications universalisation and an aim to alleviate poverty, e-commerce actively enters low-tier markets. Since the COVID-19 outbreak in 2020, internet applications have been accelerated to extend to low-tier cities and rural areas.
In the context of consumption upgrading and personalisation, the traditional supply chain can no longer meet consumer demands. The new type of e-commerce business model, C2M (consumer-to-manufacturer), not only meets the diverse and high-quality needs of users, but also enables transformation and upgrading of the manufacturing industry based on accelerated digitalisation.
Impacted by the COVID-19 outbreak, home quarantine has increased the demand for online consumption and injected new vitality into local service platforms. E-commerce giants are speeding up the expansion of offline local services to create a closed-loop ecosystem.
Smart terminals continue to see their penetration extended. In addition to traditional information-based devices, such as mobile phones and computers, others items such as personal wearables, cars, and home appliances are also moving faster towards intelligence, giving birth to new smart internet carriers.
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