The data refreshing record of “double 11” shows a consumption upgrade in China
On November 11th, 2018 Shopping Carnival, the e-commerce platform gave a consumption list that set up a new record. Under the seemingly simple data, it Compact Umbrella has been a huge historical change in Chinese society since the reform and opening up 40 years ago, and the accompanying consumption upgrade. First of all, this change stems from the continuous growth of the Chinese economy and the continuous income increase of Chinese people. In 2009, China’s e-commerce transaction volume was close to RMB4 trillion. By 2017, this figure reached RMB29 trillion, an increase of more than 6 times. The bigger background is that China’s GDP in China was RMB35 trillion in 2009, and in 2017, China’s GDP exceeded RMB80 trillion for the first time. In this “double 11” activity, the number of middle and high-level consumers who consumed more than RMB1,000 was significantly higher than the population below RMB1,000. The heavy consumer groups who consume more than RMB5,000 have continued to i