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This Year Is Defined as the First Year of New Retail

Smart retail stores and unmanned convenience stores... since this year, the innovation of the retail industry has been escalating and a new commercial revolution has come. At the 2017 Beijing International Fair for Trade in Services, Sun Weimin, Vice Chairman of the Suning Commerce Group Co. Ltd said that the consumption has become the main driving force of the economic development and new technology is driving the change in the retail industry. "The healthy development of smart retail which stimulates new supply and activates new consumption, can make greater contribution to the promotion of the supply side structural reform."

 

All major commercial enterprises get down to the integrated online and offline omni-channel shopping experience, adopt brand new strategies of distribution channel and take endless new formats of retail. What is the change in the new retail era? What is the future of the new retail?  The new retail summit of the 36 Kr WISE will be opened in Beijing on December 12. Then, big shots of the retail industry and the industrial elites will gather here to talk together about the new pattern of the new retail era, discuss together the new thinking in the new retail era and jointly explore chances and opportunities of the new retail.

 

Ma Yun, Chairman of the Board of Directors of Alibaba Group, proposed the concept of the new retail in October 2016 and the year of 2017 is considered by the industry as the "first year of the new retail". The new retail format was paid great attention by all walks of life as soon as it appeared at the 2017 Beijing International Fair for Trade in Services. The most representational format of the "new retail" is the "unmanned retail" that has sprung up since this year. Before that, JD.com also accelerated the online and offline integration and launched its own unmanned supermarkets and unmanned convenience stores. Ma Song, Senior Vice President of the JD.com said that the smart supply chain and the latest smart retail store technology of the JD.com changed the traditional consumption scene of the double 11 this year. Behind this is the core technology represented by the artificial intelligence, big data, biometrics and internet of things, which drives the continuous optimization of the capital, goods and information flow in the whole retail system.

 

The academic report issued by the research team of the Academic Committee of the National Development and Reform Commission shows that the new retail not only creates opportunities for the offline commercial enterprises, but also helps China further enhance the pulling degree of consumption for economic growth and makes the national economic development track healthier.

 

China's first new retail report released by the Circulation Industry Promotion Center of the Ministry of Commerce pointed out that the new momentum of the new retail driven by big data for the Chinese economy and the value of China’s role in leading the change of the global retail industry are affirmed. The Ministry of Commerce believes that the results of the quality improvement, efficiency enhancement, innovation and transformation of China’s retail industry brought about by the new retail have appeared.