China’s E-commerce Logistics Index Reaches New High in May 2023: Joint Investigation by China Federation of Logistics and Purchasing and JD.com

Opinion newsletter:According to the news on June 8, China’s e-commerce logistics index in May 2023, jointly investigated by the China Federation of Logistics and Purchasing and JD.com, was 109.5 points, an increase of 0.5 points from the previous month, achieving five consecutive rises and a new high since 2022.

Among them, the total business volume of e-commerce logistics continued to grow. In May, the total business volume index of e-commerce logistics was 120.4 points, an increase of 1.5 points from the previous month. In terms of regions, the eastern region increased the most, the central region was higher than the national average, and the western and northeastern regions fell slightly.

The business volume of rural e-commerce logistics has increased significantly. In May, the rural e-commerce logistics business volume index was 125.1 points, an increase of 4.6 points from the previous month. In terms of regions, the rural e-commerce business volume in the eastern and central regions grew rapidly, up 5.3 and 6.1 points respectively from the previous month, and the central region was higher than the national average.

The logistics timeliness index continued to rise. In May, the logistics timeliness index recorded 101.6 points, an increase of 0.9 points from the previous month. Although the increase has narrowed compared with the previous month, it has achieved five consecutive months of growth, with a cumulative increase of more than 13 points and continued to remain above 100 points .

The satisfaction rate index reached a new high. In May, the satisfaction rate index recorded 99.1 points, an increase of 0.4 points from the previous month, achieving a rebound for four consecutive months, with a cumulative increase of 3.8 points, continuing to hit a new high since November 2021.

The personnel index remained high. In May, the personnel index recorded 108.3 points, an increase of 0.4 points from the previous month, and an increase of 0.1 points from the previous month. It has risen for two consecutive months and has remained at a high level of above 107 points since February this year.

Overall, in May, the e-commerce logistics index continued to pick up, with both supply and demand maintaining steady growth. From the perspective of demand, the growth rate of the total business volume of e-commerce logistics exceeded 20% again after 7 months, and the growth rate of rural business volume increased by 1.5 times compared with the previous month. The main indicators on the supply side continued to improve. The logistics timeliness index, satisfaction rate index and performance rate index continued to rise. The inventory turnover index fell, mainly because e-commerce logistics companies actively stocked up and increased inventory before peak season promotions. The increase in the actual load rate index and the personnel index has expanded compared with the previous month. Among them, the actual load rate index is the highest value in the past five years, significantly exceeding the average value before the epidemic in 2019. After falling last month, the cost index increased slightly by 0.3 points this month. The cost reduction trend of enterprises has not yet formed, and the pressure is still relatively high.

In the later stage, with the approach of the “6.18” traditional e-commerce shopping festival, the total business volume index of e-commerce logistics in June is expected to maintain a stable trend.

According to previous reports, at 8:00 p.m. on May 31, during the JD.com 618 event, the turnover of brands such as Midea, Haier, Xiaomi, Gree, and Apple exceeded 100 million yuan in an instant, and the number of brands breaking 100 million yuan in 10 minutes increased by 23% year-on-year. Over 60% of new merchants’ 5-minute turnover exceeded the daily average in May, and nearly 50% of small and medium-sized merchants’ turnover increased by more than 200%.

Previously, monitoring data from the State Post Bureau showed that as of May 31, my country’s express delivery business volume had reached 50 billion pieces this year, 155 days earlier than the 50 billion pieces in 2019 and 27 days earlier than 2022.