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New retail reignites China’s offline sales

(People's Daily Online)    16:38, June 07, 2018

New retail, which seamlessly merges online sales together with offline sales and logistics, has grown to be more competitive, leading to a boost in offline sales across China, Chinanews.com reported Wednesday in Hangzhou.

A promotion for the "618 shopping festival" held in an offline store in Hangzhou

China’s online retail value accounted for half of total global sales in 2017, quoting a 2017 report on China’s e-commerce recently released by the Ministry of Commerce.

Trading profits of 2,700 offline retailing companies increased by 8 percent, and 65 large commodity transaction markets saw a 14 percent rise in turnover since the previous year, noted the report.

Some mom-and-pop stores have merged with the new retail trend, providing the same discounts as online sales platforms promote during the “618” online shopping festival, a new e-commerce promotion held in mid June.

In addition, over 100,000 offline stores across the country have been equipped with Alibaba, using the online sales giant’s new retail technologies to make shopping more convenient, such as its virtual fitting room and one-hour delivery within a 5-kilometer radius.

Last year, Alibaba signed cooperative agreements with physical retailers such as RT-Mart and Lianhua Supermarket and opened new retail pioneer brand Hema Xiansheng Supermarket, injecting energy into a dynamic world of new retail.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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