New retail consists of offering a seamless shopping experience, reconciliation of the digital and the physical world. In another word, you do not need to close all your brick-and-mortar stores or your physical distributors. You just need to understand the way digital can merge with your retail offer to deliver a unique shopping experience.
Extreme Digitalization: New Retail stores allow users to try on clothes virtually, fill a virtual cart that will then be delivered to their home, or pay via facial recognition without going to a checkout counter.
Data Hunger: Multi-dimensional digital marketing can help increase the monetization rate of advertisements as well as the conversion rate of the online and offline merchants with the platforms.
Immediate Shopping: The live streaming market reached 613 million users in China. To meet the need of immediacy, the whole supply chain has been transformed excessively. As a result, the production cycle is faster, reducing the risk of excess inventory, therefore, optimizing margins and lead to better customer satisfaction.
Traceable Quality: Allow product tracking right at stores, by scanning the QR code of a product, consumer can track the product’s circuit, its origins, and transformations.
In-Store Display Strategy, Generate A Strong Desire to Buy: Stores are now lively, sensory marketing which aims to enhance the 5 senses of customers at stores: taste, smell, touch, sight and hearing will seduce and influence the behaviors of customers.