Surging delivery business reflects new consumption growth

The business volume of the three express delivery companies increased by more than 70 percent year-on-year in February in China, reflecting the strong demand for new types of consumption, Security Daily reported on Monday.

The completed business volume of Yunda Express, STO Express and YTO Express in February increased by 73.47, 85.59 and 82.83 percent year-on-year, respectively.

The revenue from these three express delivery companies increased 88.12, 76.29 and 87.05 percent year-on-year, respectively, in the same period.

From January to February, China's express delivery companies completed 15.69 billion pieces of business, up 19.6 percent year-on-year, according to data from the State Post Bureau.

In the same period, the country's business revenue totaled 157.43 billion yuan, up 13.8 percent year-on-year, among which delivery from one city or region to another increased the most, at 21.5 percent year-on-year, to reach 13.54 billion pieces.

In February, China's express delivery companies completed 6.91 billion pieces of business, up 49.7 percent year-on-year. The business revenue of the industry reached 65.71 billion yuan, up 27.4 percent year-on-year in the same period.

China's consumption market has shown steady recovery since the start of this year, among which new types of consumption developed rapidly, with online retail sales of physical goods increasing by 12.3 percent year-on-year, accounting for 22 percent of total retail sales of consumer goods, said Gao Feng, a spokesman from the Ministry of Commerce.

The prosperity of the express delivery industry fully reflects China's strong consumption demand, and the strong growth power of the consumer market and the continuing improvement of the national economy.

The booming development of various new forms of consumption with the core features of digitalization and informationization has injected strong growth impetus into the consumer market, which in turn drives the strong growth of express delivery businesses, said Fu Yifu, senior researcher from the Star Atlas Finance Research Institute.

Express delivery companies should pay more attention to the efficiency and service quality improvement, and at the same time continue to accelerate the pace of digital transformation to help upgrade the industry and boost the consumer market, Fu said.