{"title":"E-grocery as a new site of financialization? Financial drivers of the rise and fall of China’s E-grocery sector","authors":"Danny Ning Dai, Phoebe Stephens, Zhenzhong Si","doi":"10.1007/s12571-024-01436-1","DOIUrl":null,"url":null,"abstract":"<p>During the past five years, the e-grocery sector in China has experienced double-digit growth which accelerated at the onset of the COVID-19 pandemic. Part of this hypergrowth was fueled by changing consumption patterns and pandemic-induced demand for contactless food delivery. However, this study highlights two other important but understudied drivers of the e-grocery boom -the rising financial investment and the deepening engagement of dot-com companies in the food retail sector. This study characterizes the recent financial investments in China’s e-grocery sector and analyzes the food security implications, which contributes to the scholarly literature on financialization, corporate power, and digitization in the food system in novel ways. This study advances three research findings: a) the e-grocery sector has become a new site of financialization in the food sector; b) this new site was developed partly through pandemic-induced demand for food delivery and partly as a by-product of the expansion of China’s dot-com economy; c) by the last quarter of 2021 and in 2022, many investors fled China’s e-grocery sector after an anti-trust crackdown was launched and as most e-grocery businesses struggled to make a profit. Overall, the boom and bust of the e-grocery bubble in China posed multiple challenges to food security, such as causing cash flow crises for grocery suppliers and compromising fair competition in the grocery market. Furthermore, the twin processes of financialization and digitization have forged a mutually reinforcing relationship that has far-reaching implications for China’s food system as a whole.</p>","PeriodicalId":567,"journal":{"name":"Food Security","volume":null,"pages":null},"PeriodicalIF":5.6000,"publicationDate":"2024-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Food Security","FirstCategoryId":"97","ListUrlMain":"https://doi.org/10.1007/s12571-024-01436-1","RegionNum":1,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"FOOD SCIENCE & TECHNOLOGY","Score":null,"Total":0}
引用次数: 0
Abstract
During the past five years, the e-grocery sector in China has experienced double-digit growth which accelerated at the onset of the COVID-19 pandemic. Part of this hypergrowth was fueled by changing consumption patterns and pandemic-induced demand for contactless food delivery. However, this study highlights two other important but understudied drivers of the e-grocery boom -the rising financial investment and the deepening engagement of dot-com companies in the food retail sector. This study characterizes the recent financial investments in China’s e-grocery sector and analyzes the food security implications, which contributes to the scholarly literature on financialization, corporate power, and digitization in the food system in novel ways. This study advances three research findings: a) the e-grocery sector has become a new site of financialization in the food sector; b) this new site was developed partly through pandemic-induced demand for food delivery and partly as a by-product of the expansion of China’s dot-com economy; c) by the last quarter of 2021 and in 2022, many investors fled China’s e-grocery sector after an anti-trust crackdown was launched and as most e-grocery businesses struggled to make a profit. Overall, the boom and bust of the e-grocery bubble in China posed multiple challenges to food security, such as causing cash flow crises for grocery suppliers and compromising fair competition in the grocery market. Furthermore, the twin processes of financialization and digitization have forged a mutually reinforcing relationship that has far-reaching implications for China’s food system as a whole.
期刊介绍：
Food Security is a wide audience, interdisciplinary, international journal dedicated to the procurement, access (economic and physical), and quality of food, in all its dimensions. Scales range from the individual to communities, and to the world food system. We strive to publish high-quality scientific articles, where quality includes, but is not limited to, the quality and clarity of text, and the validity of methods and approaches.
Food Security is the initiative of a distinguished international group of scientists from different disciplines who hold a deep concern for the challenge of global food security, together with a vision of the power of shared knowledge as a means of meeting that challenge. To address the challenge of global food security, the journal seeks to address the constraints - physical, biological and socio-economic - which not only limit food production but also the ability of people to access a healthy diet.
From this perspective, the journal covers the following areas:
Global food needs: the mismatch between population and the ability to provide adequate nutrition
Global food potential and global food production
Natural constraints to satisfying global food needs:
§ Climate, climate variability, and climate change
§ Desertification and flooding
§ Natural disasters
§ Soils, soil quality and threats to soils, edaphic and other abiotic constraints to production
§ Biotic constraints to production, pathogens, pests, and weeds in their effects on sustainable production
The sociological contexts of food production, access, quality, and consumption.
Nutrition, food quality and food safety.
Socio-political factors that impinge on the ability to satisfy global food needs:
§ Land, agricultural and food policy
§ International relations and trade
§ Access to food
§ Financial policy
§ Wars and ethnic unrest
Research policies and priorities to ensure food security in its various dimensions.
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