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Providing the most comprehensive and up-to-date information and analysis of the New Retail market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Covered in this report
“New Retail” is most simply defined as the integration of online with bricks-and-mortar in-store retailing, to create the most efficient means of providing competitive pricing, wider choice, improved customer service, efficient inventory and delivery of goods. It is a term coined by Alibaba founder and executive chairman Jack Ma, in October 2016, to highlight the obsolescence of thinking of online and offline (in-store) retail being considered as separate entities. It has otherwise previously been known as online-to-offline (O2O) retailing, internet+ or omnichannel retailing.
Within online retail e-commerce are traditionally included B2C (business-to-consumer) and C2C (consumer-to-consumer) sales. However, as C2C online retail platforms now are increasingly comprised of small businesses and sole traders who act as small businesses, we have continued to include C2C in New Retail, given the understanding that C2C is now, in reality, more b2C (small business-to-consumer).
Expert analysis from a specialist in the field
Written by Matthew Crabbe, a leading analyst in the Retail sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
New Retail is fast becoming the driving force behind the development of China’s consumer market, drawing together all aspects of people’s consuming lifestyles, and fundamentally changing the relationship between retailers, brands and consumers. Shopping is fast integrating with all areas of consumer activity, and with most consumer service aspects, combining through the catalyst of mobile e-commerce and China’s lack of retail legacy. A paradigm shift is now appearing in the competitive landscape as online and offline retail mergers, acquisitions and partnerships also extend into the consumer services realm. Companies are now seeking not just share of pocket, but a share of individual people’s daily lives. Matthew Crabbe
Research Director, Mintel Asia-Pacific