China’s State Post Office has reported a significant surge in express delivery volumes during the celebrated Double 11 online shopping festival, popularly known as Singles’ Festival. This surge serves as a promising indicator, reflecting the resurgence and expansion of the country’s consumer market.
From November 1st to 16th, nationwide express freight shipments soared to a staggering 7.7 billion, marking a record-breaking increase of 25.7% compared to the previous year. The surge in deliveries underscores the vitality of consumer activity during this significant shopping period.
Moreover, the total number of parcels dispatched during this period witnessed remarkable growth, exhibiting a notable expansion rate of 30.9% compared to the same period last year. Freight forwarding companies responded to this heightened demand by ramping up their workforce, extending working hours, and leveraging increased automation to accommodate the surging demand for transportation services during the peak of this immensely popular shopping season.
First launched in China in 2009, the Singles’ Festival has sustained its status as one of the country’s most bustling and lucrative shopping occasions. The exponential growth in express delivery volumes not only showcases the festival’s enduring popularity but also serves as a compelling testament to the strengthening consumer confidence and spending habits within China’s market.
This surge in delivery volumes during the Singles’ Festival underscores a robust recovery in consumption and signifies a promising outlook for the country’s retail and e-commerce sectors, showcasing the resilience and buoyancy of China’s consumer-driven economy.