Does E-commerce Promote Price Stability?—Evidence from Pure Milk Products in China
Since 2012,the fluctuation of China's Consumer Price Index(CPI)has significantly nar-rowed,and the development of the e-commerce market has also significantly accelerated during the same period.Taking pure milk products as the research object,matching offline retail data purchased from a globally renowned market research company with online retail data from Tmall Supermarket,we find that for every 1％increase in the proportion of online sales to total sales,the offline price volatility will de-crease by 3.2％-13.2％.The results of counterfactual simulation show that without online sales channels,the overall price volatility may increase by 22.8％.This result indicates that e-commerce platforms are in-tegrating local markets more closely and enhancing price stability.
NETL
NSTL
万方数据
