China Federation of Logistics and Purchasing: The e-commerce logistics index for November was 113.1 points, the same as last month

The Zhitong Finance App learned that according to the China Federation of Logistics and Purchasing on December 10, China's e-commerce logistics index for November 2025, jointly released by the China Federation of Logistics and Purchasing and JD Group (09618), was 113.1 points, the same as last month. Among the sub-indices, the inventory turnover index, logistics timeliness index, fulfillment rate index, satisfaction index, and actual load rate index increased month-on-month, while the total business volume index, rural business volume index, and cost index declined.

The total e-commerce logistics business volume index declined. In November, the total e-commerce logistics business volume index was 132.4 points, down 0.5 points from the previous month. By region, the total business volume index of the four major regions all declined. The total e-commerce logistics business volume index in the western region fell 0.8 points, the biggest drop.

The e-commerce logistics rural business volume index has declined markedly. In November, the rural e-commerce logistics business volume index was 130.4 points, down 2.6 points from the previous month. By region, with the exception of the Northeast region, which rebounded 1.3 points month-on-month, there was a decline in all other regions.

The company has sufficient supply capacity reserves, and the quality of service has been steadily improving. Judging from data from various platforms, the peak of orders for Double Eleven in November was lower than in previous years. At the same time, e-commerce express delivery companies increased capacity reserves and smooth distribution networks, and efficiency continued to improve. The logistics timeliness, fulfillment rate, satisfaction, and actual load rate indices rebounded by 0.6, 0.5, 0.3, and 0.2 points, respectively.

The inventory turnover index increased month-on-month, and the cost index declined somewhat. In November, the inventory turnover index rebounded 0.3 points from month to month. The cost index fell 0.1 points month-on-month, achieving 6 consecutive months of decline, and the effects of cost reduction measures continued to show.

The e-commerce logistics index for November remained the same as last month, and maintained a rapid development trend. From the demand side, the promotional effect of the merchant's “Double Eleven” concession campaign was already evident in October. The “Double Eleven” price advantage was not obvious. The traditional “Double Eleven” promotion cooled down. The total e-commerce logistics business volume index and rural business volume index fell 0.5 and 2.6 points respectively. Looking at order categories, sales in categories such as sports and outdoor, pets, and trendy games continued to grow rapidly. Instant retail represented by Meituan Flash Sale, Taobao Flash Sale, and JD Express became a new growth point for e-commerce consumption this month. On the supply side, unlike previous years, e-commerce logistics companies were not impacted by the peak of demand, service capacity and efficiency did not decline but increased, and inventory turnover rates rebounded. The logistics timeliness, fulfillment rate, satisfaction rate, and actual load rate indices all reached new highs during the year, and the cost index continued to decline. Looking at the latter stage, e-commerce demand will maintain a steady trend in December.