Six Changes In Retail Industry

According to the world clothing and shoe net, technology, data and analysis capabilities have become an integral part of the future retail evolution.

Participants can use more diversified and efficient means to reach, understand and dialogue consumers. At the same time, these enterprises can also optimize operation and management more effectively, and make effective allocation and application of resources at the center of consumer demand, enabling enterprises to meet the needs of consumers in time and accurately with the best products and services.

It is foreseeable that after the early high investment and continuous trial and error, the development of retail technology in the future will be more targeted and there will be more integrated programs landing.

The empowerment will further accelerate.

As the foundation of continuous innovation and pformation in the future retail industry, enterprises should face technological innovation with an open mind and achieve strategic pformation with the help of technological progress.

With the pformation of the retail industry, consumers have become the center of the whole industry ecosystem.

In order to better meet the needs of consumers, there has been extensive integration and innovation in the retail market.

DDT and Ali Research Institute jointly released the report on the six major trends in technology reinventing the retail industry (hereinafter referred to as the "report"), pointing out that the progress of technology, data and analytical ability is giving the participants of the retail market more opportunities and means to interact with consumers, and these participants have more choices to rebuild the value chain.

Based on the current application and development of technology in the market, the report summarizes six major changes in the reinventing technology, namely, comprehensive data, intelligent popularization, deep integration, application popularization, promotion of cost reduction and synergy, and acceleration of integration and innovation.

Comprehensive data

Data is one of the core resources of future retailing. The mastery and use of data can help enterprises not only understand consumer demand better, but also optimize the entire value chain.

The technological progress represented by cloud computing, Internet of things, big data and so on has made all links of the retail sector more data oriented, and have improved the capabilities of data generation, collection, storage, pfer, calculation, analysis and so on, and made the whole industry develop towards the full data orientation.

Intelligent popularization

With the improvement of data system and the development of algorithms, the application of artificial intelligence technology in the retail industry has been accelerating. A lot of applications and solutions have emerged in the online store digitalization and online consumer services, and the operators also have a large number of applications, such as intelligent logistics, intelligent warehousing and so on.

The continuous progress of technology and algorithm will further promote the intellectualization of the retail industry in the future, enabling intelligent applications to penetrate into all aspects.

Deep integration

The complexity of consumer demand and scenario, the refinement and high efficiency of operation management, make many technologies being deeply coordinated and integrated to serve the needs of specific application scenarios. In the future, more practical integrated technology solutions will emerge and will be widely applied to the entire retail industry.

Application popularization

The continuous progress of science and technology and the maturity of technology application have gradually increased, making the technology application scene more diverse. More market participants will benefit from technological progress, and people, goods and fields will be reshaped by technology. For example, consumers will have the opportunity to participate in the links of commodity manufacturing because of the popularization of technology.

Promoting cost reduction and synergy

New technology, such as cloud computing itself, is centered on rent purchase, on-demand use, and quantity based charging. Computing power and computing equipment are used as public infrastructure. Therefore, market participants can acquire data capabilities with low cost and fast access with cloud computing technology. Cost, time and manpower saving also bring efficiency improvement.

AI and other new technologies can also help the retail industry achieve efficiency improvement and cost savings.

Accelerating convergence and innovation

The impact of technological progress on industry is not only confined to the empowerment of enterprises, but also is being restructured for the utilization and operation of resources. Technological progress is an important promoter in the continuous and deep integration of online and offline; at the same time, the progress of science and technology has also provided support for the pformation of enterprise organizational structure, and the fragmented structure can be reshaped on the basis of new technology with consumers as the center.

In the continuous pformation of retail industry, market participants not only need to use data and technological means to reshape consumer experience, but also need to optimize and upgrade the overall management and operation. Technological innovation is also boosting new species.

"With the continuous pformation of the retail industry and the acceleration of technological change, we can see that more and more new types of retail products are landing quickly. With the digital business philosophy and the wide application of retail technology, the whole channel layout, the cross border integration of Zero selling and catering, and the continuous integration of supply chain resources have become a powerful competitor in the market."

Zhang Tianbing, a leading partner in DDT's China consumer and retail industry, said:

"After experiencing high investment and continuous trial and error, the development of retail technology in the future will be more targeted, and there will be more integrated solutions landing. Technology will further accelerate the retail industry's empowerment.

As the foundation for continuous innovation and pformation in the future retail industry, enterprises should face technological innovation with an open mind and achieve strategic pformation with the help of technological progress.

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