Where Are We?
The world changed for both good and bad in 2020. The digital transformation
of economies is taking shape and, in turn, changes how consumers are purchasing goods, the interaction of companies, and how businesses are structured. Moreover, new data flows enable countries and companies alike to increase operational efficiency, improve living standards in cities, and provide better access to public services.
Why Is China Worth Watching?
Although the COVID-19 continues to spread globally and brings uncertainty and instability to the international landscape, China’s economy continues to recover from the pandemic, realizing an 18.3% growth in Gross Domestic Product (GDP) in 2021 Q1 compared with 2020 Q1. Given the potential of the population and economic development, China is in position to become an essential part of the world’s economy. According to the China Internet Network Information Center, as of December 2020, the number of Chinese internet users had reached 989 million2, and the internet penetration rate had reached 70.4%2. With such a vast number of consumers coming online and reinventing digital life, the power of the internet can influence the course of development for any trend. No region better illustrates the emergence of digital transformation than China.
What Are Megatrends?
Megatrends are long-term shifts in behavior or attitudes which create a global impact across multiple countries. Successfully identifying, analyzing, and acting on megatrends is essential for success in consumer markets. The world is changing quickly, and it is increasingly challenging to keep up with competitors as technology spurs both the rate of and access to innovation.
During this change, it is difficult for companies to understand why industries are evolving in the way they are today, much less predict how they will develop into the future. Megatrend analysis allows companies to build a proactive, long-term strategy rather than reactive, making sense of where they stand today and ensuring they have a plan to remain relevant moving forward.
This Digital Megatrends in China White Paper highlights the seven most significant digital-relevant megatrends occurring in China. The White Paper incorporates sub-trend analysis under each megatrend, global assessments in terms of the trend development in other regions around the globe, and implications for the logistics industry.