Chongqing shoppers set a new record in this year's Double 11 Shopping Festival! From November 1 to 11, the total sales created by Chongqing people on Tmall ranked 7th nationwide; from November 1 to 13:00 of November 11, they realized a month-on-month growth of 98% in the turnover on JD.com.
From November 1 to 11, the total sales created by Chongqing people on Tmall ranked 7th nationwide.
In Chongqing, the shopping spree is also an opportunity for sellers to improve business volume. The city has been pushing forward with the strategic development action driven by innovation and led by big data intelligence in recent years. After the COVID-19 breakout in 2020, it released Opinions on Accelerating Development of Online Business Modes, Online Services, and Online Management and other documents, resulting in the rapid rising of the new economy represented by the digital economy.
According to the Chongqing Municipal Commission of Commerce, from January to September, Chongqing's online retail sales reached 93.84 billion yuan, a year-on-year increase of 12.7%, which was 2.9 percentage points higher than the national record. Physical goods contribute 62.07 billion yuan to the overall amount, up 24% compared to the last year, which was 3 percentage points higher than the national record. Online retail sales of major goods produced by industries above designated size grew by 44.6%, 34.8 percentage points higher than the same period last year.
The supply-side structural reform brought by digitalization is the reason behind these developments. New technologies, business modes, and models continuously emerging in production, selling, and circulating have become a vital promoter of consumption in Chongqing and "internal circulation," which refers to domestic economic activities.