Inside Alibaba How New Retail Is Changing Everything
Summary
TLDRAlibaba's 'New Retail' model merges online and offline shopping, enhancing consumer experience with technology. The concept, exemplified by Hema supermarkets, integrates mobile apps for shopping, payments, and in-store services, with stores doubling as fulfillment centers for rapid delivery. The 11.11 Global Shopping Festival showcases innovations like 'See Now, Buy Now' fashion shows and interactive TV galas, engaging viewers with real-time purchases and games. Brands like Wyeth and Bose leverage New Retail to create immersive, interactive experiences, blurring the lines between online and offline shopping. Alibaba aims to redefine global retail with a fully digital approach, prioritizing convenience and personalization.
Takeaways
- 🛍️ The script introduces the concept of 'New Retail', a term coined by Alibaba, which integrates online and offline retail with logistics, data technology, media, entertainment, and gamification.
- 📱 It highlights the example of Hema, Alibaba's tech-powered supermarket, where all transactions, including in-store purchases and online orders, are managed through a mobile app.
- 🏪 Hema stores function as fulfillment centers, allowing for rapid home delivery to consumers within a 3-kilometer radius, sometimes within just 30 minutes.
- 🎉 The 11.11 Global Shopping Festival is portrayed as a testing ground for shopping innovations, blending entertainment with retail to engage consumers in new ways.
- 👗 The 'See Now, Buy Now' fashion show is an example of retail-as-entertainment, where viewers can purchase items they see on the runway in real time through Tmall.
- 🎊 The 11.11 Countdown Gala Celebration is an interactive variety show that not only entertains but also engages viewers through mobile games to win coupons and promotions.
- 📍 Pop-up stores created in collaboration with brands offer new touchpoints for engaging shoppers both online and offline throughout their consumer journey.
- 🍼 Wyeth, an American baby formula brand, uses New Retail integration for its 11.11 strategy, employing an AR game to draw online consumers to offline stores for deeper engagement.
- 🎶 Chinese consumers are highly mobile and have rapidly adopted online shopping, but still value the opportunity to touch and test products before purchase, creating opportunities for brands and retailers.
- 🚗 Bose's launch of its first smart store in Shanghai allows customers to claim online coupons for in-store use and make reservations for special guided tours, enhancing the shopping experience.
- 🔢 In China, 82 percent of retail still happens offline, indicating significant potential for growth in online retail, with Alibaba aiming to eliminate the distinction between online and offline retail through complete digital transformation.
- 🌐 New Retail is positioned to become a global business model, starting in China and expected to be exported, with Alibaba leading the way in its development and implementation.
Q & A
What is the concept of 'New Retail' as introduced by Alibaba?
-New Retail is a term coined by Alibaba to describe the integration of online and offline retail with logistics, data technology, media, entertainment, and gamification to create a seamless shopping experience for consumers and retailers.
How does Alibaba's Huma supermarket exemplify the New Retail concept?
-Huma is an internet and technology-powered supermarket where all transactions, including online ordering, home delivery, in-store product research, and payments, are conducted through a mobile app. It also serves as a fulfillment center for online orders, enabling 30-minute delivery within a three-kilometer radius.
What is the significance of the 11-11 Global Shopping Festival for Alibaba's New Retail strategy?
-The 11-11 Global Shopping Festival serves as a test bed for Alibaba to showcase and implement various shopping innovations and to demonstrate how New Retail is becoming a reality.
How does Alibaba's 'See Now, Buy Now' fashion show integrate entertainment with retail?
-The 'See Now, Buy Now' fashion show is an interactive event delivered to consumers' screens where they can purchase items they see on the runway in real time through Tmall, combining entertainment with the shopping experience.
What is the role of the 11-11 Countdown Gala Celebration in Alibaba's New Retail?
-The 11-11 Countdown Gala Celebration is an interactive variety show designed to engage viewers and prepare them for the midnight sales kickoff, incorporating mobile phone games to win coupons and promotions for the shopping festival.
How does Wyeth, an American baby formula brand, use New Retail integration in its 11-11 strategy?
-Wyeth uses Tmall's 'Catch the Cat' augmented reality game to attract online consumers to offline stores, such as a pop-up location in Shanghai, where they can engage with the brand through features like an expert salon for child care and parenting advice.
What is the importance of the mobile platform for Chinese consumers in the context of New Retail?
-Chinese consumers heavily rely on mobile platforms for shopping, and this has led to the rapid adoption of online shopping. However, they still prefer to touch and test items before buying, which creates opportunities for brands and retailers to integrate online and offline experiences.
How does Bose leverage Alibaba's New Retail model with its smart store in Shanghai?
-Bose allows its Tmall fans to claim coupons online for use in-store and make reservations for guided tours of its flagship store. Shoppers can scan a QR code upon arrival to sync with their Tmall account and use the coupons, enhancing the shopping experience and providing Bose with a better understanding of its customers.
What is the current state of retail in China in terms of online and offline sales?
-In China, 82 percent of all retail sales currently happen offline, indicating significant potential for growth in online retail. However, Alibaba aims to eliminate the distinction between online and offline retail by promoting fully digital businesses that offer innovative shopping experiences.
How does Alibaba envision the future of retail globally in the context of New Retail?
-Alibaba sees New Retail as a defining model for the future of global retail, where the business model created in China will be exported, and the company is working on developing and implementing this model worldwide.
What is the role of pop-up stores in Alibaba's New Retail strategy during the 11-11 Global Shopping Festival?
-Pop-up stores are used by Alibaba in collaboration with brands to create new and meaningful touchpoints for engaging shoppers both online and offline throughout the consumer journey, enhancing the overall shopping experience.
Outlines
🛍️ The Emergence of New Retail
This paragraph introduces the concept of 'New Retail', a term coined by Alibaba, which integrates online and offline retail experiences. It discusses the shift from consumers going to products to products coming to consumers in the e-commerce era and the challenges faced by physical stores. Alibaba's vision is to merge these two realms, creating a seamless shopping experience that benefits both consumers and retailers. The script highlights the 11.11 Global Shopping Festival as a platform to showcase this new reality, with examples such as the tech-powered supermarket 'Homa', which uses mobile apps for various shopping activities and serves as a fulfillment center for online orders, enabling rapid delivery within a three-kilometer radius.
🌐 Alibaba's Global Impact on Retail Innovation
The second paragraph delves into Alibaba's role in shaping the future of retail globally. It emphasizes that the business model being developed in China, particularly the 'New Retail' concept, will likely be exported and adopted worldwide. The script mentions the company's collaborative efforts in creating innovative shopping experiences, suggesting that the rest of the world will have to adapt to these new standards set by Alibaba. The paragraph concludes with a nod to the ongoing work in this domain, hinting at the potential for further advancements in retail technology and consumer engagement strategies.
Mindmap
Keywords
💡E-commerce
💡Brick and Mortar Stores
💡New Retail
💡Homa
💡Fulfillment Center
💡Facial Recognition
💡11.11 Global Shopping Festival
💡Retail as Entertainment
💡Pop-up Stores
💡Augmented Reality (AR)
💡Alipay
Highlights
In the golden age of e-commerce, products come to consumers, posing challenges for brick and mortar stores.
Alibaba is building a new retail model that integrates online and offline retail seamlessly.
New retail is a concept coined by Alibaba, combining online and offline with logistics, data technology, media, and gamification.
HuMA is Alibaba's tech-powered supermarket where everything is managed through a mobile app, including in-store purchases and online order fulfillment.
HuMA's innovative feature is its dual role as a store and a fulfillment center for online orders, enabling 30-minute delivery within a 3 km radius.
Homeok is evolving with new retail, allowing customers to pay through facial recognition.
The 11-11 Global Shopping Festival is a testbed for Alibaba's shopping innovations.
Retail as entertainment is a trend in China, exemplified by Alibaba's 'See Now, Buy Now' fashion show, allowing real-time purchases through Tmall.
The 11-11 countdown gala is an interactive variety show that engages viewers through mobile games for coupons and promotions.
Pop-up stores created by Alibaba in collaboration with brands offer new touchpoints to engage shoppers both online and offline.
Wyeth, an American baby formula brand, uses new retail integration for its 11-11 strategy, including an AR game to bring online consumers to offline stores.
Bose launched its first smart store in Shanghai, allowing online fans to claim coupons for in-store use and reservations for special guided tours.
Shoppers at Bose's store can check in with a QR code, sync with their Tmall account, and use coupons while paying through Alipay.
In China, 82% of retail happens offline, presenting an opportunity for online retail growth and integration with Alibaba's new retail model.
Alibaba aims to eliminate the distinction between online and offline retail, creating businesses that are completely digital and offer innovative shopping experiences.
New retail is expected to define global retail operations in the future, with Alibaba leading the way in creating and exporting this business model.
Transcripts
[Music]
in retail it used to be that consumers
went to the product
now in the golden age of e-commerce it's
the product that comes to consumers
anywhere anytime but that's caused some
problems for brick and mortar stores
what if it didn't have to be one or the
other online versus
offline retail what if the two could
work together
seamlessly to benefit consumers and
retailers
this is the new retail that alibaba is
building
and for this year's 11 11 global
shopping festival
the company is on track to show us how
new retail
is becoming a new reality
[Music]
new retail is really a term
coined by alibaba and it's how
we start to think about moving from
online to offline
but also thinking more about logistics
and data technology
and how to bring in this idea of media
and entertainment and gamification
all into the sport of retail
the best example yet is huma the
company's internet and technology
powered supermarket
at homa everything happens through the
mobile app
online ordering for home delivery
in-store product research
even payments but homa's most innovative
feature may be that each store
also serves as a fulfillment center for
online orders
that means consumers within a three
kilometer radius can get their groceries
in as fast as 30 minutes just like new
retail
homeok continues to evolve now customers
shopping at the store can pay through
facial recognition
too as innovative as huma is
it really is just the beginning for new
retail if you want to get a sense of the
true
future of this sector you have to pay
attention to the 11-11 global shopping
festival
11-11 has become a test bed for all
kinds of shopping innovations
a big trend in china right now is retail
as entertainment take alibaba's see now
buy now fashion show
this star-studded interactive show is
delivered straight to consumers tvs
computers and mobile phones
if they like something they see on the
runway viewers can buy it
in real time through tmall
then there's the eleven eleven countdown
gala celebration
created to get shoppers psyched up for
the sales midnight kickoff
the variety show with an interactive
twist drew more than a hundred million
viewers last year
but staying true to new retail viewers
don't just watch
they engage with the show through their
mobile phones
playing games to win coupons and special
promotions for eleven eleven
now that's just to kick off eleven
eleven but what about the actual
shopping well all over china there are
pop-up stores where alibaba is working
with brands to create
new and meaningful touch points to
engage shoppers both online and off
throughout the entire consumer journey
wyeth an american baby formula brand is
using new retail integration as the
foundation of its 1111 strategy
thanks to tmall's catch the cat
augmented reality game
wyath has a fun way to bring online
consumers to offline stores
like this pop-up location in shanghai
for its aluma brand
once there the company builds deeper
connections with those consumers through
features like an expert salon
where shoppers can ask doctors child
care and parenting questions
chinese consumers live and breathe on
mobile and they've adopted
online shopping at lightning fast rates
but they still like to touch and test
the things that they're gonna buy
this has created an opportunity for
brands and retailers
bose just launched its first smart store
in shanghai
the company's tmall fans can claim
coupons online to use
in store they can even make a
reservation for a special guided tour of
boza's experience flagship store
which includes hopping into a porsche to
hear the top-notch sound system
the way it was meant to be heard
shoppers check in when they arrive at
the store by scanning a qr code
syncing up with their tmall account that
allows them to use that coupon
all while paying through alipay
throughout the process
consumers get the best shopping
experience available and brands get a
more accurate idea of who their
customers are
whether they're shopping online or off
right now in china 82 percent of all
retail happens offline
that leaves a lot of room for online
retail to grow
but alibaba isn't content to merely ride
that wave
in fact if the company has anything to
say about it
there won't be any online versus offline
retail at all
they'll just be businesses that have
gone completely digital
delivering innovative intuitive and
convenient shopping experiences
to consumers who've come to expect them
new retail is going to define
how the rest of the world will have to
operate in the future the business model
will be created here in china
and will be exported and with alibaba
we're working on this together
[Music]
you
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