February 2023 saw e-commerce logistics grow in China; further growth is expected in March. Growth is likely the result of China’s reopening in January.
While in some corners of the world, e-commerce companies are shrinking their logistics operations, in China, they are growing.
China ‘reopened’ its borders in early 2023, significantly boosting its economic outlook.
Part of this economic growth spurt appears to be driven by consumers. In February, the IMF stated that:
We project China’s economic growth to increase from 3 percent in 2022 to 5.2 percent in 2023 driven by a rebound in private consumption amid the earlier-than-anticipated reopening in China.
As China’s e-commerce demand spikes, logistics companies are making handsome gains.
Fibre2Fashion cites a report by the China Federation of Logistics and Purchasing and JD.com which suggested that several sub-indices measured growth in logistics in February 2023.
Furthermore, it is forecast that the index will continue to rise in March too, which can be a sign of greater growth in the future.