New Retail Trends To Watch In 2020

New retail means the new mode of retail that user-centered and driven by technology and relying on the new supply chain to deeply integrate online and offline, restructuring people, goods and scenes. It aims at satisfying customers’ demand, improving retail industry efficiency and achieves whole scene, all customers and data format. Smart retail is the manifestation of new retail.

1. Technology-Driven  

The emergency of new retail is the result of growing mature of technologies such as the mobile Internet, the Internet of things and big data. With artificial intelligence, AR/VR, biological recognition, image recognition, robot such technologies become more mature, the application threshold of them is lower and leading retail enterprises have ability to constantly apply the latest technology, enhance consumer experience and lower operation efficiency and costs.

2. Customer-Centered

The post-90s and post-00s generation is becoming the core consumer groups in the market. The new customer generation has higher self-aware and more personalized consumption attitudes and behaviors. They place greater emphasis on shopping experience and hope to build trust and intimacy in the transactional relationship with brand owners and retailers. Their acceptance of marketing messages on social media is also significantly more open and positive, giving product and service provider greater space to enhance their influence on social media in response to consumers' individual needs.

3. Omni-Channel Operation

Under the omni-channel condition, consumers hold the initiative of shopping. Consumers can choose the retailers' terminals with the help of various social media to enjoy the ultimate shopping experience. From the perspective of retailers, omni-channel is the integration of various channels on the basis of multiple channels and provides customers a seamless experience. For consumers, omni-channel means that consumers can choose products in one channel and compare products in another channel, finally purchase the products at the third channel.

4. Global Marketing

Global marketing is the integration of all kinds of reachable consumer channel resources, aiming to establish a full link, accurate, efficient and measurable cross-screen channel marketing system. Global marketing is an intelligent marketing mode with consumer operation as the core and data as the energy to realize full link, all media, all data and all channels.

5. Intelligentize

With the popularity of smart phones and smart terminals, QR code payment has become normal in current retail market from shopping malls to individual business. Smart POS machines, mobile APP applications, WeChat pay, Alipay pay and other functions have been gradually accepted by consumers. In the future, mobile payment and smart Wi-Fi scene entry will become the standard configuration for merchants to meet the purchase and payment needs of fashionable consumers.

                       

6.Digitization

Digitalization will be the top priority in retail development. It will use mobile Internet, big data, cloud computing, artificial intelligence and e-commerce tools to comprehensively promote the digitalization of retail channels. As the basis of big data marketing, member marketing can cultivate many loyal customers and improve the competitiveness of enterprises by mining consumption demand and trend through member system design and member data analysis. It has become the goal of merchants to dig deeply into customers' purchasing ability and form secondary sales opportunities.

Big data, artificial intelligence, mobile payments, logistics services and other companies that provide innovative solutions to the retail industry are growing rapidly. The refinement of scenario marketing, big data management, construction of new shopping scenes and big data will make the retail industry more exciting in 2020. Physical retail will also usher in a new spring driven by technology.