Under the influence of the new retail concept, the development trend of the retail industry has gradually become clear. Before discussing the future direction of new retail and market opportunities, we first review the changes in China's retail industry over the years, and then look at the possibility of new retail.
New retail forward
Recalling the development of China's retail industry, from the traditional retail format to today's Internet, it has undergone a process of constant differentiation and reorganization:
The initial stores are basically professional stores. After the reorganization of traditional specialty stores and the popularity of department stores, before the 1990s, it was dominated by state-owned large-scale department stores. Since 1992, and especially since 1996, supermarket chains have become the main players in the market, and there are various formats such as modern specialty stores, specialty supermarkets, and convenience stores.
However, compared with foreign supermarket chains, the size of Chinese supermarket chains is obviously small. From the sales in 2000, the leading supermarket chain company in China, Lianhua Supermarket, is only 1/80 of Wal-Mart. In addition, the competition among domestic supermarket chains is fierce and the market has entered the integration period. Around 2000, large supermarkets, discount stores, etc. combined with department stores and supermarkets appeared one after another. At this time, some large foreign retail companies have also gradually entered China, such as Carrefour.
In the future, large-scale hypermarkets have grown rapidly. At the same time, shopping malls combining a variety of retail formats and service formats have begun to spread throughout the consumer sector, and they have gone to department stores to develop integrated shopping malls that integrate entertainment, food, service, and leisure shopping. . The domestic retail industry presents a diversified prosperity pattern.
However, at this time, for the traditional retail industry, a high-speed threat to survival is quietly forming. The strong invasion of the Internet has greatly impacted the development of the traditional retail industry. Under the impact of e-commerce, physical stores in the fields of books, clothing, and home appliances suffered the greatest number of injuries. Some department stores were difficult or even closed, and the traditional department store business continued to decline. Around 2013, the retail industry ushered in a wave of mobilization. While affecting the development of the retail industry, the mobile Internet has also changed consumers' consumption concepts and habits. With the deepening of the Internet, the online and offline sales status of the retail industry is very different. At the same time, the focus of e-commerce has also shifted from PC to mobile.
By 2015, the development of e-commerce has entered a period of steady growth. At this time, Internet + and O2O are hot, and many retail companies have begun to explore business models that combine with the Internet.
Since 2016, China's retail industry has experienced great turmoil. The pure e-commerce traffic dividend has disappeared. The tide of large-scale retail supermarkets has hit the stores. For the first time in 19 years, RT-Mart, which is a “zero-off store,†closed its stores for the first time. The traditional retail industry has shown a trend of slower growth and lower profits. The emergence of new retail systems covering physical stores, e-commerce, mobile and social media seems to be the optimal solution to the retail development challenges.
New retail back
After the new retail, the new business era. At present, China's retail online and offline are facing increasing pressure at the same time. The integration of online and offline channels has naturally become the driving force for creating new growth. This trend has emerged since the beginning of this year: Many Internet companies have begun to lay out offline, and technology fields such as Xiaomi have recently announced that they will open two to three hundred offline Xiaomizhijia retail stores next year, and they will strive to open 1,000 offline stores in the future. Stores; e-commerce areas such as Dangdang, Amazon opened a physical bookstore, and Amazon launched a convenience store. At the same time, some offline traditional retail enterprises are also extending online. For example, Yonghui Supermarkets and JD.com administer O2O and e-commerce; IKEA tests hydropower suppliers in Shanghai.
It can be seen that the online and offline borders are increasingly blurred. As far as the retail industry as a whole is concerned, competition no longer comes from online or offline models, but it begins to return to the essence of retailing: who can serve consumers more efficiently. In fact, the law of commerce is very simple. In terms of retail, although consumption is upgrading, its nature and basic rules have not changed, and the upgrade is only in various forms and means.
At present, from the analysis of China's retail environment and business status, the following four trends may be worth paying attention to:
1. Online and offline tend to be unified and specialized.
In fact, the main reason why consumers first choose to purchase e-commerce is nothing more than a poor retail experience and high prices. With the integration of online and offline and logistics, the future retailer may unify the price, quality, experience, etc., to break the gap between the seller show and the buyer show, and provide professional services and products to consumers.
2. Large retailers may face consolidation and restructuring.
In the past, a large variety of hypermarkets intercepted the majority of small supermarket businesses, and today they are in turn affected by community-based small retail outlets. With the development of community consumption trends, community will become an important direction for the future development of the retail industry. Wal-Mart and Target have already started to offer small-scale physical retail store services abroad. The densely populated neighbourhood community stores are the direction they are aiming for, and I believe that such refined operation stores will also appear in China.
3, experiential consumption, personalized service into the consumer life.
With the obvious difference in consumer demand, some personalized and innovative consumption patterns will be more popular, such as the niche brand buyer shop model. With the optimization of consumer experience, consumers’ purchasing power will increase and companies will benefit from it.
4, enterprise production more intelligent, technology.
With the combination of on-line and off-line integration, demand and production supply information are integrated with each other, and from production to consumption can be forecasted through technological data such as big data to control production capacity, completely eliminate corporate inventory, and increase efficiency.
Conclusion:
Although mobile internet has brought great challenges to the retail sector, overall there are still more opportunities. Now the retail industry is in a new stage of upgrading. And globally, the overall development of China's retail industry is in a good trend. According to the report of “Destination Retail†published by Jones Lang LaSalle, China has become the fastest growing retail market in the Asia Pacific region, including Beijing. Become the third fastest growing retail market in the world. The arrival of new retail or will bring new opportunities for China's retail development.
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