When the wave of the digital economy is coming, what we see is that more and more players are starting to throw themselves into the arms of digital business. This is true for Ali, this is true for Jingdong, and this is true for Tencent. The fact that so many players are shifting their focus from traditional e-commerce to digital retailing tells us one thing, namely, that digital retailing is going to be a brand new windfall for some time to come. According to 2024 China shop, many new types of business will be spawned around the digitisation of the retail industry.
This seems to be quite a bit different from the new retail-led development model we have seen in the past. In the era when new retail was drummed up by giants and capital, what we saw was that almost all players focused their attention on the reconstruction of the three elements of people, goods and fields. Although the reconstruction of the three elements of people, goods and fields can indeed bring about certain development potential, if the evolution of the retail industry is only seen as a superficial reconstruction of the elements without changing the elements themselves, then such development is still incomplete. Therefore, in order to truly change the retail industry itself, it is necessary to transform the inner elements of the retail industry, on the basis of realising the transformation of the inner elements, and then looking for ways and means to reconstruct the new elements, perhaps, is the key to truly ensure the evolution of the retail industry, and truly enter into its own development track.
Digital retailing, as a species that truly transforms the intrinsic elements of the retail industry in an essential way, is receiving more and more attention. According to 2024 China shop, compared to the superficial and shallow nature of new retail, digital retail is, by its very nature, actually a process of empowering and transforming the internal processes and segments of the retail industry with the help of digital technology. After going through such a stage, the elements, processes and links within the retail industry will undergo a deep and comprehensive change.
The three elements of people, goods and fields that we are used to in the traditional sense will undergo a deep and complete change. When the concept of new retail was put forward, one of the very important directions was to achieve the deep integration of online and offline.
This, at one time, was considered the essence of new retail. However, the "integration of online and offline" is actually incomplete or incomplete if it only stays on the surface of capital operation and lacks internal integration.
Unlike new retail, which merely seeks ways and means to integrate online and offline through capital operation or strategic cooperation, digital retail is more concerned with the unification of the virtual economy and the real economy, and then seeks ways and means to achieve the integration of the virtual and the real.
If we look at the way promoted by new retail as a way to look for ways and methods to integrate the real and the virtual from the outside in, then the way of integrating the real and the virtual on top of digital retailing is more of a more in-depth, more sustainable and more precise way of integrating the real and the virtual.
(source: uibe-mba)