18 年1-8 月，社会消费品零售累积总额为24.23 万亿元，同比增长9.3%；其中，限额以上单位消费品零售额92368 亿元，同比增长7.1%。8 月当月，社零数据同比增长9.0%，环比上升0.2pct。必选消费中，食品粮油/服装鞋帽/日用品同比增速分别为10.10%/7.00%/15.80%；增速环比+0.6/-1.7pct/+4.5pct；可选消费表现回升， 其中化妆品类/ 金银珠宝类/ 家电和音像类同比增幅分别为7.80%/14.10%/4.80%；同比增速较2018 年7 月环比0.0pct/+5.9pct/+4.2pct。

The retail sector has been one of the driving forces of the Indian economy, expanding its value added at a CAGR of 11% over FY2013-2017, driven by positive demographic trends, ongoing urbanisation and an increasing middle class population, rapidly adopting a consumerist lifestyle. In FY2017, the trade sector accounted for 9.5% of the country’s GDP, 5.4% of total FDI and around 8% of national employment. However, organised trade remains at a nascent stage of development, which, given expectations for a robust increase in consumer spending, anticipates a huge growth trajectory facing the retail market. Indeed, it is set to nearly double to USD 1.1tn by FY2020, up from USD 672bn in FY2016, according to India Brand Equity Foundation (IBEF) projections. In 2017, A.T. Kearney ranked India as the world’s most attractive developing country for retail investment, based on its impressive market size, low saturation levels and moderate economic and political risks.

与美国相比，中国的互联网金融行业规模更大，在一些技术领域比如支付处置能力等也更领先。这主要是基于三个方面的原因：市场空白大、技术发展快和监管适度。互联网金融行业的普惠性也十分突出。

阿里巴巴和亚马逊分别作为中国和美国最大的电商龙头，在发展上具有诸多相似的成功基因，同时也具有各自独特的成功特征。本文着重分析阿里和亚马逊成功的最核心因素，希望为当前的电商研究和投资提供一定的借鉴。