Seafood e-commerce in China worth 27 billion RMB during the first half of 2019
(Various sources: Zhujiage, 28 Nov 2019)
A seafood e-commerce forum was held in China on the 27th November 2019 with seafood companies, restaurants and e-commerce companies attending. According to data from the Chinese Ministry of Commerce, there were 390 million seafood e-commerce transactions in the first half of 2019, worth 17 billion RMB, up by 22.9% from the previous period.
In 2018 China’s total seafood e-commerce transaction value reached 27 billion RMB.
The top province in value was Jiangsu Province, worth 6.8 billion RMB, accounting for one fourth of the country’s total, followed by Shanghai City, Shandong Province, and Liaoning Province.
The top three seafood species transacted by e-commerce in 2018 were prawns (5 billion RMB), crabs (4.7 billion RMB) and finfish (4.1 billion RMB). The transaction value of ready-to-eat seafood accounted for 3.9 billion RMB.
Jingdong’s data shows that the major concerns by Chinese consumers are the price, taste, freshness, delivery speed, quality and cuisine methods.
The current bottlenecks in China are low levels in standardisation, brand development, cold chain; imperfect credit and transaction systems and high costs in logistics. It was suggested at the forum to combine e-commerce with recreational fisheries and the catering industry and to promote seafood through videos, WeChat, and Weibo, and develop cross-border e-commerce.
The forum concluded that:
- there would be large innovation opportunities for seafood e-commerce to integrate between production and marketing, between e-commerce and tourism leisure, and between online and offline;
- product standardisation and quality visualisation would become hot spots in seafood e-commerce;
- the localisation of live and fresh food platforms would feature the future transition direction of seafood e-commerce.
At the forum, the China Aquatic Products Processing and Marketing Alliance (CAPPMA) signed a strategic cooperative agreement, to provide more premium Chinese seafood products, to help Chinese seafood companies to develop domestic markets, and promote integration of consumption of online and offline seafood products.
At present, the live and fresh food cold chain by Jingdong covers 300 cities throughout China. The seafood sale volume by Jingdong has grown over 50% annually since 2016, which has doubled in comparison with the average industry growth level. Up to now, Jingdong live and fresh business has introduced more than 500 seaf
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