Good piece in Forrester on Retail in China that sums up and charts progress in China
Future of Retail is Here Xiaofeng Wang, Senior Analyst Forrester
The future of retail is already here: Alibaba’s New Retail is reshaping the retail landscape in China and beyond. JD.com, Tencent, and traditional retailers like Starbucks and Walmart are all jumping on the bandwagon. My latest report, New Retail Is Transforming Commerce, shows retailers what they can learn from early adopters and how they can accelerate their omnichannel transformation.
eCommerce has tremendous momentum in China: As a percentage of total retail sales, online retail sales have risen from less than 2% in 2009 to nearly 25% in 2018. However, offline retail still takes the lion’s share and will remain the key growth engine for Alibaba and JD. As the first to recognize the trend, Alibaba responded with New Retail (a term coined by Jack Ma), its strategy to redefine commerce by blending online and offline ecosystems to create seamless customer experiences and improve retail efficiency. Alibaba’s New Retail models are transforming key retail sectors:... "
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