New Retail - China - August 2018
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“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. China’s consumers are proving willing to adapt to and adopt new technologies and innovations into their daily lives; seeking more choices suited to their own tastes and needs; demanding more conveniences suited to their lifestyles; expecting faster, friendlier service as individuals; and enjoying a more sociable and entertaining shopping experience. In all of this, China is offering arguably the most advanced consumer experience in the world.”
– Matthew Crabbe, Regional Trends Director, Asia-Pacific
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