As the growth in the e-commerce market slows down, China’s tech leaders are moving into more traditional forms of retail.
In the world’s largest e-commerce market, China’s leading technology companies are now paying renewed attention to the physical, growing their own portfolio of shops and in doing so creating a new hybrid marketplace. As Alibaba co-founder Jack Ma recently explained to shareholders, “Pure e-commerce players will soon face tremendous challenges. In the coming years, we anticipate the birth of a reimagined retail industry, driven by the integration of online, offline, logistics and data”.
“Online and offline will be a single seamless experience, not just in consumer interaction, but also in the entire business operation, ” added Alibaba Chief Executive Officer Daniel Zhang.