{"id":46749,"date":"2017-12-18T04:22:40","date_gmt":"2017-12-18T04:22:40","guid":{"rendered":"https:\/\/innovationiseverywhere.com\/?p=46749"},"modified":"2017-12-18T04:22:40","modified_gmt":"2017-12-18T04:22:40","slug":"new-retail-experiments-china","status":"publish","type":"post","link":"https:\/\/innovationiseverywhere.com\/fr\/new-retail-experiments-china\/","title":{"rendered":"New Retail Experiments in China"},"content":{"rendered":"<p><b>The term \u201cNew Retail\u201d, first coined by Alibaba\u2019s founder Jack Ma, refers to a new format where technology and data merge online and offline shopping, offering consumers a better shopping experience. With the official opening of fully automated convenience store BingoBox in Shanghai in June, the spotlight on Alibaba\u2019s fresh food connected supermarket Hema, the showcase of the automated pop-up Tao Caf\u00e9 by Taobao in July, and the face recognition payment launched in KFC in August, China has been taking New Retail to a whole new level this summer. Taking a closer look at these tech powered customer journeys and how they improve the customer experience provides the rest of the world with inspiration about what the future of offline retail can be.<\/b><span style=\"font-weight: 400;\"> \u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Why is the future of retail happening in China?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Importance of retail in China<\/strong><span style=\"font-weight: 400;\">: In June 2017, the total retail sales of consumer goods in China reached RMB 3.9 trillion ($440 billion), up by 11% year-on-year (China Internet Watch). TechNode compared the amount Chinese consumer spend on consumer goods for one month to what Greece spent in 5 years. Brick and mortar stores still make up over 80% of total retail sales in China.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><strong>Universal adoption of mobile payment<\/strong>:<\/span><span style=\"font-weight: 400;\"> A total of $3 trillion in transactions using AliPay and WeChat Pay was recorded in 2016. <\/span><\/li>\n<li style=\"font-weight: 400;\"><strong>Tech savvy society<\/strong><span style=\"font-weight: 400;\"><strong>:<\/strong> Chinese people embrace change and love trying new technologies.<\/span><\/li>\n<li style=\"font-weight: 400;\"><strong>Less privacy concerns<\/strong><span style=\"font-weight: 400;\"><strong>:<\/strong> Western companies and consumers are much more cautious about privacy concerns compared to Chinese tech firms.<\/span><\/li>\n<li style=\"font-weight: 400;\"><strong>AI advance<\/strong><span style=\"font-weight: 400;\"><strong>:<\/strong> Baidu opened a deep learning institute in Silicon Valley in 2013 and invested $300 million in 2014, making it one of the premier AI research centers in the world. China surpassed the US with the number of published journals related to deep learning in 2015.<\/span><\/li>\n<li style=\"font-weight: 400;\"><strong>Change of work landscape<\/strong><strong>:<\/strong> Chinese aging society and the impending shortage of workers, and the young Chinese don\u2019t accept anymore low skilled manual work.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-46750\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2017\/12\/Screen-Shot-2017-12-18-at-11.37.34-AM.png\" alt=\"\" width=\"673\" height=\"456\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-46751\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2017\/12\/Screen-Shot-2017-12-18-at-11.37.46-AM.png\" alt=\"\" width=\"717\" height=\"312\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-46752\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2017\/12\/Screen-Shot-2017-12-18-at-11.37.52-AM.png\" alt=\"\" width=\"709\" height=\"311\" \/><\/p>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-46753\" src=\"http:\/\/innovao.cluster030.hosting.ovh.net\/wp-content\/uploads\/2017\/12\/Screen-Shot-2017-12-18-at-11.37.59-AM.png\" alt=\"\" width=\"714\" height=\"311\" \/><\/p>\n<p><em>This content has been published first in <a href=\"http:\/\/innovao.cluster030.hosting.ovh.net\/iev-premium-retail\/\" target=\"_blank\" rel=\"noopener\">IEV Premium Retail<\/a>\u00a0(September 2017), our magazine\u00a0<span style=\"font-weight: 400;\">for digital transformation in the retail\u00a0industry across Asia &amp; Africa for business leaders.\u00a0<\/span><\/em><\/p>\n<div class='_form_18'><\/div><script type='text\/javascript' src='https:\/\/innovationeverywhere.activehosted.com\/f\/embed.php?static=0&id=18&6A2638AAD23D9&nostyles=1&preview=0'><\/script>\n","protected":false},"excerpt":{"rendered":"<p>The term \u201cNew Retail\u201d, first coined by Alibaba\u2019s founder Jack Ma, refers to a new format where technology and data merge online and offline shopping, offering consumers a better shopping experience. With the official opening of fully automated convenience store BingoBox in Shanghai in June, the spotlight on Alibaba\u2019s fresh food connected supermarket Hema, the [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":46756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[485,461,249,434,171],"tags":[],"class_list":["post-46749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-east-asia-china-south-korea","category-fmcg","category-internet-of-things","category-new-retail"],"_links":{"self":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/posts\/46749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/comments?post=46749"}],"version-history":[{"count":0,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/posts\/46749\/revisions"}],"wp:attachment":[{"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/media?parent=46749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/categories?post=46749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/innovationiseverywhere.com\/fr\/wp-json\/wp\/v2\/tags?post=46749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}