[Direct Report Network Beijing July 4] (Economic Daily)In this year's 618, the total sales volume and sales speed of e-commerce once again set a new record - the cumulative amount of orders placed by Jingdong reached 15.5 billion yuan, and the turnover of over 100 brands of Tianmao exceeded last year's Shuang11. Sixteen years ago, a small e-commerce store Festival grew into a consuming event involving the whole industry. The 618 not only highlights the comprehensive popularization and great potential of e-commerce, but also reflects the course of China's economic and social development, the improvement of people's living standards and the continuous upgrading of consumption.

From the beginning as a new fashionable way of shopping, to now become one of the mainstream of consumption, e-commerce has changed people's consumption patterns and habits, brought great convenience and benefits to consumers, to a large extent, to meet people's needs for a better life. Moreover, e-commerce links the consumer side with the producer side, stimulates the transformation of the production mode and supply chain of traditional industries, effectively promotes the structural reform of supply side and industrial transformation and upgrading, promotes the double promotion of quality and brand, and becomes the booster of China's high-quality economic development. At the same time, as a platform to promote mass entrepreneurship and innovation, e-commerce has created growth miracles for many small and medium-sized enterprises and added vitality to China's economy. The rapid development of e-commerce has created numerous new jobs and met the needs of large-scale employment growth.

Today, e-commerce is an important barometer of China's consumer market. Data from Beijing East University show that just after 0:00 on June 1, sales data from backstage in Beijing East show that orders show blowout. On June 1, the total amount of orders placed in the four-tier and below cities increased by 108% year-on-year, resulting in an alarming burst of consumption power. "618" e-commerce data highlight the endogenous power and strong resilience of China's sustained economic growth, the huge potential of domestic demand and the trend of escalating consumption. It can be predicted that along with the close interaction between online and offline, e-commerce enterprises and manufacturing enterprises work hand in hand to increase innovation, improve the quality of products and services, increase and release consumer demand, achieve a better link between demand and supply, will further stimulate consumption vitality, and China's consumer market will continue to maintain rapid growth.

E-commerce has effectively activated the consumer power of the sinking market. Unlike the main group of e-commerce consumption in the first and second-tier big cities in the past, the third and fourth-tier cities and rural markets are becoming the new main battlefield of e-commerce consumption. E-commerce enterprises have increased their marketing investment in these areas this year. "618" data also shows that consumption in the declining market is more active, starting to lead the market at all levels. The sinking of e-commerce channels has effectively alleviated the problems of low perfection of commercial system and uneven quality of goods and services in small and medium-sized cities and rural areas, enabling rural consumers to enjoy high-quality products and services as consumers in second-tier cities, reducing consumption costs and activating new consumption growth points. On the other hand, the distribution of e-commerce in rural market also provides an efficient channel for the export of agricultural products, bringing the countryside into the digital economic system, and promoting the increase of farmers'income and rural economic development.

E-commerce consumption has also led to the upgrading of consumption. "618" data show that high-quality big brands and imported goods are popular and the sales increase is huge; hot sales of new products and reverse customized goods indicate that consumers'demand for individualized consumption is increasing day by day, showing the pattern of sustained opening of China's economy and the trend of upgrading consumer quality.

From the "618" data, we can also see that the consumption of medical health, travel, automotive services and other services in e-commerce platform has increased rapidly. The growth of service consumption in the consumption structure is a direct reflection of the public's demand for higher quality of life. At the same time, we should also see that it is e-commerce platform that deeply applies new technologies such as big data, artificial intelligence and mobile internet, constantly improves the logistics distribution system, promotes merchants'online and offline integration and cooperation, and changes the homogeneous retail situation of the past "thousand stores on one side", which is no longer passive to meet consumer demand, but leads the way. Consumption trend stimulates new consumption demand, creates more new products, new services, new formats and new patterns, provides more abundant consumption choices, realizes benign interaction between production and consumption, and promotes the continuous release of consumption potential.