China Sets Retail Trend
The future of retail revealed by Alibaba at Vinexpo Hong Kong
For wine producers from around the world, the Chinese market represents new opportunities with great potential. But the question always remains as to how to enter the market. At Vinexpo Hong Kong, Alibaba demonstrated the most up-to-the-minute techniques for reaching the end consumer, including the “store of the future”.
China is systematically and rapidly doing away with paper money and coins, and people in major Chinese cities are using their smartphones to pay for just about everything – to pay rent, buy groceries, and even donate to charity. Even buskers playing on the streets of a number of Chinese cities have put up boards with QR codes, so that passers-by can easily transfer them tips directly.
Tmall.com is China’s premier online branded shopping platform and the most visited business-to-consumer (B2C) online retail website in China. Today, Tmall is leveraging the power of big data to achieve integration between offline stores, merchandise, logistics and payment tools with the ultimate aim of elevating efficiency and overall consumer experience.
Daniel Zhang, CEO of Alibaba Group said, “New retail reimagines the relationship between consumers, merchandise and retail space by leveraging mobile Internet and big data. It will upend the traditional manufacturing and supply chain, the connection between merchant and consumer, as well as the overall consumer experience. Businesses will increasingly embrace big data and new innovations to better identify, reach, analyse and serve their customers, and their digital transformation will be empowered by Alibaba’s ecosystem.”
The Tmall system works by scanning labels at a distance in order to calculate the total amount to be paid, the store “recognises” the client, and automatically debits his or her Alipay account as they step outside.
In Tmall, an increasing number of flagship stores of this kind are emerging each year. Also interacting with all of Alibaba’s retail venues, Tmall also cooperates with offline hypermarkets. No matter where consumers are, they can always access product information, purchase goods, place orders online, and get fast delivery.
It’s all powered by Alibaba’s data platform, which integrates big data and the largest cloud computing technologies to provide business empowerment for overseas businesses. New retail business elements are enhanced, including traffic flow, products and logistics, enabling the accurate identification of consumers and direct communication.