As China's biggest shopping festival of the year gets underway, analysts are starting to favor Chinese logistics companies as a way to play the online shopping trend. Their reasoning? The delivery companies are seeing package volume grow, regardless of how much consumers spend on each purchase. "Express parcel volume growth has been outperforming online growth since 2019, driven by the continued drop in ticket size amid a consumption downgrade," JPMorgan analysts said in an Oct.
The Morgan Stanley study ranked Chinese logistics players on an "AI Matrix" that tries to measure the willingness and ability to invest in artificial intelligence, along with the size and scale of the companies' proprietary data. Of three companies that stood out, ZTO also emerged as Morgan Stanley's top pick in China's logistics industry.
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