Retail

China e-commerce boosted by shift to online shopping after coronavirus

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Drivers for Meituan and Alibaba-owned Ele.me en route to delivering items to customers in Guangzhou, China.

Arjun Kharpal | CNBC

China’s e-commerce and food delivery giants are reaping the benefits of an increasing number of consumers shopping online and businesses trying to digitize, trends accelerated by the coronavirus outbreak.

Chinese players have recently reported strong earnings for the second quarter as lockdown rules in the world’s second-largest economy relaxed. 

“Post COVID-19, the pace of digitization continues to accelerate and the shift from offline to online, in particular for individual shopping, is becoming a habit for consumers,” Jefferies said in a recent note discussing…



Source cnbc.com

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