New Retail Evolution Of China

New Retail Evolution Of China

New Retail, the name most commonly used to refer to this trend, has been dubbed "the future of retail" (Alizila), with China "setting the pace for the rest of the world" (Bain & Company). Across China, grocery stores, shopping malls, supermarkets, hypermarkets and convenience stores are getting a digital upgrade designed to usher in the next generation of shopping experience.With innovations like facial recognition, digital payments, rapid-fire delivery, big data, and shopping tailored to the individual, the New Retail experience is designed to be seamless, fast, and convenient. It combines the physicality and accountability of offline shopping with the speed and ease of online shopping and has breathed new life into bricks-and-mortar retail.