What is new retail?

New retail means that enterprises rely on the Internet to upgrade and transform the production, circulation and sales processes of goods by using advanced technologies such as big data and artificial intelligence, thereby reshaping the business structure and ecosystem, and improving online services, A new retail model that deeply integrates offline experience and modern logistics.

The connection between new retail and physical stores

New retail can help transform physical stores. Currently, physical stores are severely restricted by geography and foot traffic. Physical stores under the new retail model will be mainly used for product display and experience. Consumers can experience product types and experiences in offline physical stores. Quality, but delivery will be done online.

Using the thinking of combining new retail + new finance, consumers can pick up goods in online malls and have the right to enjoy the premium remuneration of the placement package. This will reduce shopping costs and manufacturers can also achieve on-demand production.

Pioneer of new retail in convenience stores

Why did the big guys and capital choose convenience stores?

In an interview with Southern Metropolis Daily, JD.com CEO Liu Qiangdong explained the reason why JD.com decided to open 1 million convenience stores: “We found that there are several business formats that e-commerce cannot compete with, and one of them is convenience stores. Business format. Since we can’t compete with it, we choose to cooperate with it.”

The advantages of convenience stores lie in time and distance. Offline convenience stores compete with the speed of Internet logistics at close range. For e-commerce platforms, the value of convenience stores lies in the last mile, as well as the stickiness and interactive relationship with customers. As a pioneer in new retail, the future of convenience stores is worth imagining.