Looking Back to 2018 | Development Status of New Retail Industry

In 2018, self-service purchasing, unattended shopping, face recognition, automatic scanner... In the context of consumer transformation, retail industry, as a transformed industry, is quietly changing. Statistics show that the proportion of new retail consumption in 2018 has reached 22%. Nowadays, the new retail +, represented by the integration of retail and manufacturing, has come to a new stage.


New retail will open up new market space

This year, e-commerce giants accelerated the distribution of retail business. Ali proposed to build a "new retail city". The incubated superspecies, Boxhorse, has more than 100 offline stores in 16 cities. Taoxianda, the main fresh department store serving in one hour, has opened 269 cities and 660 offline supermarkets. Tencent's "Intelligent Retail" aims to be the digital assistant of retailers, helping the retail industry transform and upgrade by digital means, and Yonghui and Jiale. Fukushima, Wal-Mart and other retail giants established in-depth cooperation; Beijing East Fresh Food Supermarket 7FRESH launched the process of opening stores in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu and other cities.


According to the statistics published by Prospective Industry Research Institute, the proportion of new retail sales in total retail sales of Chinese consumers will reach 22.4% in 2018, nearly tripling from 8% in 2013, and it is expected to increase to 33% in 2023. In the next few years, the annual compound growth rate of new retail trade will reach 115.27%. It is expected that by 2022, the new retail market will exceed 1.8 trillion yuan.


From January to November 2018, the national online retail sales volume was 8068.9 billion yuan, an increase of 24.1% over the same period last year. Among them, online retail sales of physical goods amounted to 6271 billion yuan, an increase of 25.4%, accounting for 18.2% of the total retail sales of consumer goods.

Some industry experts pointed out that the new retail development potential is huge, which will inject new vitality into consumption growth and economic development. On the one hand, new retailing promotes consumption growth and promotes consumption upgrading; on the other hand, new retailing can make a big difference in the field of consumption, which is also based on the background of the steady growth of consumption and accelerated upgrading in China.


Technology Drives New Retail

Online and offline integration will break the isolated retail business and traditional retail business, but the retail formats are independent but not isolated; consumer experience-centered retail business will certainly be sought after by consumers, but also return to the essence of retail; intellectualization and wisdom, through new technologies, new management, new operations, will enhance operational efficiency and reduce management costs.

With the substitution of "online substitution offline" by "online combination offline", electronic label (ESL) has been widely used in such scenarios as shopping malls and supermarkets, which are closely integrated online and offline.

Electronic price tag can realize the rapid synchronous change of commodity price and information, real-time display of inventory information, analysis of shop passenger volume, tag-commodity shelf positioning, NFC/two-dimensional code connection line mall, advertising display, visual aesthetics and other aspects, regardless of in-store promotion, technology advancement, user experience are excellent. Given the ability of price synchronization and promotion synchronization between physical stores and online shopping malls, the operating efficiency of stores has been greatly improved. Electronic price tag not only saves manpower, but also improves work efficiency, which is favored by offline stores.

Electronic tags have gradually replaced traditional paper price tags and become the new favorite of retail industry, especially Shangchao industry. According to relevant data, global sales of electronic shelf label hardware reached more than 100 million pieces in 2018, and the market size of the whole system will reach 6.58 billion US dollars. With the breakthrough of electronic paper technology, it is expected that the global electronic price tag will increase by about 25.9% annually between 2018 and 2020, and the global sales will reach 11.97 billion US dollars by 2020.

Tianhong, Yonghui, Wumei, Huaguan, Jingkelong, Zhongbai, Lecheng and other well-known domestic retail enterprises have entered the stage of comprehensive commodity application and more stores on-line actively in 2018 after some stores or some commodity water test applications in previous years, and regard electronic price tags as an indispensable part of building smart stores.

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