China’s e-commerce logistics index in September was 114.4 points, an increase of 0.2 points from the previous month.
In a recent interview, a representative from the China Logistics and Purchasing Federation shared insights on the e-commerce logistics landscape for September 2024. The e-commerce logistics index registered at 114.4 points, reflecting a modest recovery with an increase of 0.2 points from the previous month. Several sub-indices showcased positive trends, such as total business volume, rural business volume, logistics timeliness, fulfillment rates, inventory turnover rates, load factors, personnel indices, and cost indices. However, it is worth noting that the satisfaction index saw a slight decline.
“The total business volume index for e-commerce logistics continues to climb,” the representative noted, with a current index of 131.2 points in September, which is up by 0.7 points from August. All regions across the country reported increases, with the Northeast showing the most substantial rise at 0.9 points.
On the rural front, the e-commerce logistics business volume index rebounded to 129.4 points, gaining 0.5 points from the previous month. Data indicates that every region experienced growth in rural business volume, with the Western region recording the largest increase. Significantly, the Eastern region’s rural e-commerce total business volume index exceeded the national average, hitting 130.1 points.
Both fulfillment and timeliness indices experienced upward trends, while overall satisfaction with e-commerce logistics dipped slightly. The service capabilities of logistics firms improved in September, with the logistics timeliness index rising by 0.1 points and the fulfillment rate index increasing by 0.3 points, indicating continued high-performance levels. The satisfaction index, despite a minor decline of 0.2 points, remains close to its highest since the index’s inception, steady at 103.5 points.
Moreover, both the inventory turnover and load factor indices rebounded this month. The e-commerce logistics inventory turnover rate saw a 0.4-point rise, attributed to an increase in holiday shopping activities. The load factor index also increased by 0.2 points. Meanwhile, the personnel index remained stable, and the cost index experienced a minor uptick of 0.3 points, suggesting stable business operations.
As the school season and Mid-Autumn Festival approach, consumer potential is ramping up, leading to increased online shopping. The e-commerce logistics index’s 0.2-point rise aligns with expectations. From a demand standpoint, the total sales of Mid-Autumn-related products surged by 26.55% year-on-year. Various regions have introduced “trade-in” programs, effectively boosting consumer enthusiasm. Alongside the back-to-school season, demand for digital products—like smartphones, computers, and smartwatches—has increased, contributing to a 0.7-point rise in the total business volume index of e-commerce logistics. Additionally, festive homecoming consumption has propelled rural e-commerce logistics business volume up by 0.5 points.
During the Mid-Autumn Festival, a remarkable 1.307 billion express parcels were collected nationwide, marking a daily increase of 35.4% compared to last year. Meanwhile, 1.407 billion parcels were delivered, representing a 45.7% year-on-year growth. On the supply side, September witnessed a slight easing of extreme weather conditions compared to August. Delivery companies have improved efficiency through bulk shipping, stock preparation, and direct truck delivery methods, with around 4 million delivery personnel engaged to meet peak demands. This has significantly enhanced logistics timeliness, fulfillment rates, and inventory turnover indices. Notably, despite the surge in demand, e-commerce logistics firms did not experience significant cost rebounds this month, indicating improved cost control capabilities.
Overall, the growth rate of the e-commerce logistics index expanded in September, with market demand sustaining over 30% growth since the start of the second half of the year, signaling steady market development. Looking ahead, the representative anticipates that with the peak travel season for the National Day holiday and various investment consumption policies, the e-commerce logistics index is poised to continue its upward trajectory, with growth rates expected to expand further.
