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Shopping mall transformation, e-commerce carnival where consumers will "buy, buy" in the future

Science and Technology Daily January 17, 2020

Mall closures, e-commerce carnivals, who will rise and fall in the future retail industry? Experts believe that China's retail industry has entered a critical period of innovation and transformation, and the future will be a market pattern of online and offline integration and complementary multi-format formats.

The Spring Festival is approaching, and every family has ushered in a big season of "buy, buy and buy", followed by a spree-like growth of online retail. This winter, major e-commerce platforms have opened up more new online shopping and delivery methods, bringing people a new online shopping experience, and the online "chop hand clan" has continued to grow.

When people felt that offline physical stores were out of date, Ali, Suning, NetEase, and a group of online "big coffees" entered the offline market, opening a large number of experiential new retail stores everywhere The township market has become a new battleground for the "vassions of various roads" to attack the city.

So, who is going to rise and fall in the future retail industry? Where will consumers "buy buy buy"?

New retail methods such as live streaming

Throughout the dazzling changes in the retail industry, several key keywords such as live streaming, sinking the market, one-hour life circle, and reverse customization cannot be ignored.

——Live with cargo. Last year was the year when the online celebrity live broadcast brought a big explosion. Over 50% of the merchants in "Double 11" sold their goods through live broadcast. On the same day, Taobao's live broadcast brought nearly 20 billion yuan in turnover. Among them, Li Jiaqi has a record of more than 1 billion yuan, and the volume is worth one year of sales in some malls. Also popular is Li Zizheng, who shared the rural life of pastoral pastoral songs through short videos. She opened the same gourmet food brand shop on Taobao, and all became "explosives."

——Sink the market. Sinking markets refer to markets in third-tier and below cities, towns, and rural areas. Data show that consumer groups sinking the market account for about 70% of the national population. "In 2019, nearly 80% of online consumption in sinking markets will grow faster than the first- and second-tier markets, and they have a strong demand for quality of life upgrades," said Li Xiang, chief business analyst at CBNData.

——One hour life circle. Sinking market consumption upgrades, while the first and second tier cities fight for shopping experience. The speed of online retail arrival is constantly being refreshed. “One hour at home” has become the standard for many retail e-commerce platforms. Suning stores, JD.com home, Daily Fresh, Hema Xiansheng, etc. all have such services.

——Reverse customization. The platform uses big data to accurately grasp the needs of consumers, connecting with manufacturers more smoothly, and consumers have also changed from pickers to orderers. "After passing through more than 5 million online and offline consumer evaluation information through AI deep learning, we analyzed that the people have six main requirements for a pot, and directly fed back to the manufacturers. A custom-made pot became a hot sale. "Jing Wei, executive vice president of Suning Technology.

Technology empowers many changes in retail

According to data from the Ministry of Commerce, in November last year, the online retail sales of key enterprises increased by 19.5% year-on-year, which were 19.8, 11.4, and 10.7 percentage points higher than those of department stores, convenience stores, and supermarkets, respectively. What kind of power makes new Internet retail beat traditional retail?

Take a small membership card as an example. Traditional department stores and commercial supermarkets have had membership card services before, but apart from points redemption, they have not allowed the membership card to exert greater value. Oliver Wyman, Deputy Director Partner of Greater China, said that relying on digital and big data analysis methods, new retail companies analyze consumption habits and consumption preferences from massive membership information. Customers provide what they want, and more. Targeted category management optimization.

Pingxiao is the annual income generated by the store per square meter, and the physical retail store is usually used to measure the operating efficiency. A research report by Huatai Securities shows that the traditional Chinese retail store has a floor price of about 15,000 yuan, while the new retail store Hema Xiansheng has a floor effect of 50,000 yuan, and online sales account for more than 50%. Behind this is the contribution of science and technology. New retail enterprises have realized intelligent sorting, packaging, and inventory management.

The retail war is also a logistics war. Relying on 5G, big data, AI and other technologies, "In the past, people were looking for goods. As soon as there were more orders, people were too busy or even out of stock. Now it is looking for people. After customers place orders, the goods will pass through the system and equipment. Automatically 'run' in front of the pickers. Robots in unmanned warehouses can complete the workload of ordinary employees in one day in two hours. "Luan Xuefeng, deputy dean of the Suning Logistics Research Institute, told reporters that in the" unmanned warehouse logistics base ", goods from The warehouse takes only 20 minutes as soon as it is shipped out.

Co-founder and president Zeng Bin of Daily Fresh said that in the future, labor costs will become higher and higher, and unmanned warehouses have the potential for large-scale commercial applications.

In universities such as Fudan and Shanghai Jiaotong University, "unmanned express vehicles" have also appeared, which can not only deliver courier to the dormitory building, but also pick up pieces. The "black technology" is trendy and convenient.

In the future, a multi-format complementary market pattern will be formed

Mall closures, e-commerce carnivals, who will rise and fall in the future retail industry? Experts believe that China's retail industry has entered a critical period of innovation and transformation, and the future will be a market pattern of online and offline integration and complementary multi-format formats.

While batch after batch of department store super-departures left the venue sadly, there were long queues in front of some stores.

On the morning of December 21, 2019, a three-story compound tide brand shop named “niko and ...” was officially opened on Huaihai Road, a landmark commercial street in Shanghai. This trendy grocery store from Japan had to limit the flow due to the large passenger flow. The store here used to be the building where the old department store Huaihai Youth Products Mall is located.

Across the street, MUJI's global flagship store replaced the old-fashioned department store. Around the six life-related themes of "clothing, food, housing, travel, education, and music," consumers not only get shopping here, but also an experience.

There are also traditional shopping malls facing up to difficulties and turning gorgeously in the competition. For example, the New World City on Shanghai Nanjing Road was reopened. The introduction of experiential projects such as the Ocean Aquarium, Indoor Rock Climbing Project, and "Naruto World" has made the mall's popularity soaring. Good-to-buy, good-looking, and fun leisure experiences are sought after by consumers.

New retail outlets focus on the "experience economy", a charm that the virtualized Internet cannot provide. Li Wei, deputy general manager of New World City, introduced that the transformed New World City has transformed from a pure shopping mall into a consumer's "city living room."

Pei Liang, president of the China Chain Store and Franchise Association, believes that retail business will be fully digitalized and intelligent, and omni-channel marketing will become the standard for retail companies. The development of new technologies such as 5G and the Internet of Things will help China's retail industry continue to maintain a leading position in technological innovation.

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