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March 12, 2024

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Home » District » Songjiang

District positions as a vital hub in online new economy

Source: Shanghai Daily | 00:00 UTC+8 March 12, 2024 | Print Edition

Songjiang has positioned itself as a vital hub in the online new economy, significantly contributing to the integration and development of new economic patterns. Recent statistics from the district’s economic commission, backed by third-party e-commerce big data analysis, revealed that in 2023, Songjiang’s online retail sales volume soared to 113.4 billion yuan (US$15.75 billion). This marked a robust year-on-year growth of 14.12 percent.

The online new economy, characterized by its reliance on cutting-edge technologies such as AI, 5G, the Internet, big data and blockchain, is deeply integrated with modern manufacturing, business finance, culture, sales, education and health sectors. It is distinguished by its online presence, intelligent operations and interactive capabilities.

Songjiang has rapidly become a breeding ground for e-commerce enterprises specializing in niche markets. These include beauty and cosmetics brands such as Lily & Beauty, LETS and Lin Qingxuan; home and personal care brands such as Yeswood, Flyco, Povos and Kede Glasses; industrial e-commerce platforms such as ICKey, baking giants 21cake and Le Cake and food retailers Lyfen and Chaojiu.

Moreover, Songjiang is enhancing its e-commerce park infrastructure, with notable areas like the Yongfeng e-commerce cluster, Dongjing 5808 live broadcasting base, Xinqiao Shanghai 1560 e-commerce park, Fangsong Songjiang e-commerce park and the Songjiang Comprehensive Free Trade Zone’s cross-border e-commerce demonstration park. These developments have started to show a clustering effect for the e-commerce industry in the region.

Leveraging the district’s advanced manufacturing base, local e-commerce platforms are utilizing big data and cloud computing technologies to facilitate traditional industries’ integration into the supply chain, optimizing it to enhance service capabilities.

In 2023, ICKey, an electronic industry service platform, started to focus on providing small to medium-scale electronic component research, procurement, production, warehousing, distribution and delivery solutions, offering a one-stop solution for ecosystem clients.

Dingdong Maicai, a fresh produce platform and delivery service app, has accelerated its expansion into lower-tier markets, exploring a fresh produce outlet model and opening its first Dingdong outlet store in Jiuliting Community, empowering traditional commerce with its robust supply chain system.

With an annual online retail volume reaching 113.4 billion yuan, home furnishings and decorations lead the industry transaction scale, accounting for 29.23 percent of the retail volume, closely followed by home appliances and personal care cosmetics.

Moreover, Songjiang boasts over 43,100 enterprises engaged in online sales, with more than 73,200 stores, showcasing the district’s significant and growing impact on the online new economy.

Songjiang


 

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