New Re­tail Era

Ori­en­tal Out­look Au­gust 31

Beijing Review - - This Week People & Points -

In a Yin­tai shop­ping mall in Hangzhou, cap­i­tal of east China’s Zhe­jiang Prov­ince, when a reg­is­tered mem­ber of the mall walks in, he or she is iden­ti­fied as such and ac­corded spe­cial ser­vices. All the stores in the mall sup­port Ali­pay, and all the com­modi­ties have the same price as on Alibaba’s This is a typ­i­cal case of how Alibaba and Yin­tai are co­op­er­at­ing to ex­plore the new re­tail in­dus­try.

In 2015, Zhang Yong, CEO of Alibaba, and Hou Yi, founder of Hema Xian­sheng, which com­bines bricks-and-mor­tar stores with on­line ser­vices, be­gan to talk about the up­com­ing rev­o­lu­tion in e-busi­ness and the re­tail in­dus­try. In Jan­uary 2016, Hema Shengx­ian opened its first re­tail store in Shanghai, mark­ing the start of the new re­tail prac­tice.

Nine months later, Jack Ma, Chair­man of Alibaba Group, put for­ward the con­cept of “new re­tail” at a con­fer­ence in Hangzhou, pre­dict­ing that the era of pure e-busi­ness has gone, and the next decade will be dom­i­nated by new re­tail fea­tur­ing a com­bi­na­tion of off­line and on­line busi­ness and lo­gis­tics.

The de­vel­op­ment of the In­ter­net and the In­ter­net of Things has rad­i­cally changed re­tail meth­ods, mak­ing it im­pos­si­ble for e-busi­ness to stick to con­ven­tional com­mer­cial and ser­vice models. With the In­ter­net pen­e­trat­ing all as­pects of peo­ple’s daily life, con­sumers’ habits have also un­der­gone a dra­matic change. They ask for more op­tions, bet­ter com­modi­ties and chan­nels through which com­mod­ity

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