Big changes sweep across biz clusters

Sellers promote products via livestreaming in Yiwu, Zhejiang province, in May. The factories benefit from increased exposure and sales, while the talented youngsters gain a competitive edge by offering a wide range of high-quality products to their online customer base, said Li Shifan, general manager of Jamil Household Products Co. Over the past two years, as e-commerce platforms have battled to offer the lowest prices, businesses within industrial clusters like Bazhou have gradually emerged as key players in reshaping the supply chains within online marketplaces by providing high value-for-money products. Industrial clusters refer to a mass of manufacturers within specific geographic regions, where industries coexist and collaborate closely to streamline production processes, optimize supply chains, and enhance overall quality and cost-effectiveness. A list released by Alibaba's Taobao and Tmall Group in January unveiled 50 industrial clusters, each of which boasted a combined transaction value exceeding 10 billion yuan on Taobao, Tmall, and 1688 platforms. With a total of 2,473 upstream and downstream enterprises dedicated to hanfu production, the online sales of hanfu reached 7.2 billion yuan last year, marking a year-on-year growth of 44.3 percent.