Chinese e-commerce sector returns retail to stores
Alibaba’s 2017 Global Entrepreneur Conference was held in Hangzhou on July 11. Under the theme of “Made in Internet”, CEOs and founders of e-commerce and tech giants, like China's Alibaba, Xiaomi and India's Paytm attended the conference.
Retail has recently become as hot as AI and VR among tech investors. Many e-commerce firms are stretching their feelers out from the cloud down to the ground with landmark M&As.
Alibaba CEO Zhang Yong introduced five new aspects in his speech, namely big data, new tech, new devices, new financing tools, and restructure goods and markets. He said that staff-less stores may be a new way to redefine grocery shopping.
Meanwhile, by studying consumer behavior data, companies can “then design, market, sell and serve in order to satisfy customers,” Zhang added.