Exciting and frightening, ‘New retail’ is everywhere in Shanghai. Alongside the C.I.R.I.S. conference, Global Retail News met the Vice Presidents of Alibaba at their Hangzhou HQ, together with an array of well-established retailers. We explored how ‘New Retail’ may be infused among traditional retailers and why such technological e-giants are so interested in brick & mortar.
In China, the so-called ‘New Retail’ sector is organised around two behemoths. These are Alibaba in Hangzhou and rival Tencent in Shenzhen, the local Silicon Valley. Altogether, they control 75% of China’s total e-commerce market, and 86% if we include China’s B2C online retail market. Such groups are unrivalled in the Western world. These are also the fastest companies in retail to multiply by alliances and partnerships. Faced with such agility, it seems that Facebook, Amazon and Google...
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