时报观察 | 电商渗透率见顶 消费结构迎来深刻转型

Core Insights - The e-commerce penetration rate in China has peaked at 27.6% in 2023 and is projected to decline to 26.8% in 2024, with the current rate around 25% [1][2] - This stagnation in e-commerce penetration does not indicate a decline in consumption but rather reflects a significant shift in consumer spending from goods to services, particularly in education, culture, and entertainment [1][2] E-commerce Trends - The growth of e-commerce penetration is stalling as consumers increasingly favor experience-based and personalized service spending, which is growing at a faster rate than physical goods [2] - Major e-commerce platforms are adapting by integrating online and offline consumption experiences through "instant retail" models, aiming to cover all aspects of consumer needs [2] Consumer Spending Patterns - In the first nine months of the year, per capita spending on education, culture, and entertainment increased by 10.3%, significantly outpacing growth in traditional goods categories [1] - Online service consumption grew by 20.2%, and instant e-commerce sales surged by 24.3%, indicating a shift towards digital and service-oriented spending [2] Strategic Adaptations - Both e-commerce platforms and offline commercial facilities are seeking to enhance consumer experiences by linking immersive and interactive service consumption with physical goods [2][3] - The focus on consumer experience and trust is essential for growth and competitiveness in both e-commerce and physical retail environments [3]