Seizing Digital Opportunities to Boost the Development of Small and Micro Economies

2023-07-07

The size of the night economy market continues to grow, with various formats such as food, drink, and shopping blooming. The number of rural live streaming merchants in counties has surged, and the online "origin" economy has emerged. China's small and micro economy has shown new trends and highlights, especially driven by digitalization and online channels. Small and micro economy formats are diverse, growing rapidly, and full of vitality. In the future, digital empowerment is expected to boost the resilience of small and micro economies, achieve breakthroughs, and form new growth points. The report of the 20th National Congress of the Communist Party of China proposes to accelerate the construction of a strong online country and a digital China. As an emerging industry, the digital economy permeates thousands of industries and empowers the real economy. It has unique advantages in improving resource allocation efficiency, promoting market integration, optimizing industrial organization models, and is an important engine for promoting high-quality development. Data shows that the scale of China's digital economy has increased from 11 trillion yuan in 2012 to 50.2 trillion yuan in 2022, ranking second in the world in total and accounting for 41.5% of the gross domestic product. The full penetration of the digital economy and its profound impact on all aspects of production, circulation, consumption, import and export are conducive to accelerating the formation of a Dual circulation, expanding new space for economic development, cultivating new drivers of economic development, and becoming a strong support for promoting high-quality economic development and building new national competitive advantages. Under the encouragement and guidance of national policies, with the continuous release of consumer demand in the post pandemic era, the deepening integration of digital technology and the real economy, and the continuous enhancement of innovative development momentum for digital enterprises, digitization has brought new opportunities for the development of small and micro economies. Firstly, the online aggregation effect of the digital economy helps to create "hot selling" marketing and continue to ignite the "internet celebrity" economy. At the beginning of the year, the popular "Zibo Barbecue" across the country, which relied on the scale effect and hot marketing of the Internet, continued to generate widespread attention and positive feedback nationwide, thereby driving the all-round growth of local catering, tourism and other industries. According to data from internet platforms, the transaction volume of travel in Zibo has increased by 6.5 times year-on-year since the beginning of this year. Rural events such as "Village Super League" and "Village BA", which have become popular on the internet, all rely on digital communication to drive the sustained popularity of rural and county economies, catching up with traditional formal events. Digitization has fundamentally changed the production mode and business model of the Traditional economy. More and more counties and small and medium-sized cities, relying on their unique resources and network communication, have moved from "minority" to "public", becoming the hot Weather vane of tourism consumption and driving local economic development. Secondly, the disintermediation of the digital economy greatly reduces channel costs and continuously optimizes the trading experience between supply and demand sides. In recent years, the county economy has become a highlight of emerging industries through e-commerce live streaming, bringing new business models and opportunities. E-commerce live streaming connects the "origin" regional brands at the starting point of the supply chain at one end, and radiates to the vast number of consumers across the country at the other end, presenting the products and production process in their original and authentic way. With the intuitive advantage of "seeing is believing" and the price advantage of "no middleman earns price difference", it is easier to establish trust between merchants and consumers. Through e-commerce live streaming, the "digital divide" between small and medium-sized cities, rural areas, and developed regions has been greatly reduced, driving the vigorous development of the online "origin" economy. Data shows that in 2022, mainstream live streaming e-commerce platforms will have rural live streaming merchants in the county area

Edit:XiaoWanNing    Responsible editor:YingLing

Source:Guangming online

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