According to the Zhitong Finance APP, on January 7, the China Federation of Logistics and Purchasing and JD.com jointly released the China E-commerce Logistics Index for December 2024, which is 112.7 points, down 2.8 points from the previous month. In the sub-indexes, the inventory turnover rate index and logistics timeliness index have increased, while the total business volume index, rural business volume index, fulfillment rate index, personnel index, satisfaction rate index, actual load rate index, and cost index have decreased.

The total business volume index of e-commerce logistics has declined. In December, the total business volume index of e-commerce logistics is 130.9 points, which is a decrease of 3.2 points compared to the previous month. In terms of region, the total business volume index has declined in all regions across the country, with the largest decrease in the western region, down 7.7 points.

The logistics business volume index of rural e-commerce has significantly declined. In December, the rural e-commerce logistics business volume index is 129.3 points, down 5.2 points from the previous month. Regionally, all areas in the country have seen a decrease in the rural business volume index, with the northeastern region experiencing the largest drop of 7.3 points.

The inventory turnover rate has improved, and the timeliness index has reached a new high. As the e-commerce promotional activities in December have ended, companies have reduced their inventory, boosting the inventory turnover rate by 0.3 points compared to the previous month. E-commerce logistics companies have sufficient supply capacity, with the logistics timeliness index increasing by 0.4 points from the previous month, reaching a new three-year high.

The fulfillment rate, satisfaction rate index have adjusted downwards, while personnel and actual load rate indexes have decreased month-on-month. In December, due to the decline in business volume, the actual load rate index decreased by 1.3 points month-on-month. The personnel index, satisfaction rate index, and fulfillment rate index fell by 2.6, 0.9, and 0.2 points respectively, but all remained above 100 points. The service efficiency of e-commerce logistics companies has fluctuated due to changes in business volume, but overall remains stable.

With the conclusion of the November 11 Shopping Festival-Related promotions, the e-commerce logistics index has experienced a seasonal decline, consistent with expectations. From the demand side, the total business volume index still maintains an increase of over 30%. December coincides with the Christmas and New Year's "Double Festival, " with the online consumer market showing a strong festive atmosphere in various aspects such as clothing, food, housing, and transportation. Lanterns, couplets, and other spring decorations are popular, and Hanfu, new Chinese-style outfits, and national style decorations are becoming choices for more young people, gradually becoming symbols of the New Year's customs. At the same time, there is a noticeable increase in the search volume for ice and snow-themed tourism products. From the supply side, due to the fluctuations in demand, some sub-indexes have declined, and how to better maintain the stability of personnel and equipment efficiency, service levels, and cost control after the peak of express delivery has become a key focus for e-commerce logistics companies. Looking at the whole year, the average e-commerce logistics index for 2024 is 113.7 points, an increase of 3.6 points compared to 2023, achieving a new high for the average index in nearly 7 years. Throughout the year, there were nine increases and three decreases, reaching a new monthly high in November for nearly 7 years. Among the sub-indexes, the fulfillment rate index, personnel index, satisfaction rate, and actual load rate index all achieved new highs since 2018, fully demonstrating that China's e-commerce logistics market scale is continuously expanding, supply capacity and service levels are significantly improving, and market activity is markedly increasing. Looking ahead to 2025, the government's promotional policies for consumer spending remain unchanged, and scenarios for e-commerce logistics demand such as instant e-commerce and cross-border e-commerce continue to emerge. The e-commerce logistics index is expected to maintain a steady upward trend.

This article is compiled from China Logistics and Purchasing Federation, edited by Zhituo Finance: Chen Wenfang.