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Leading the global digital retail and cultivating new quality productivity

author:China Industry Network

Original title: Leading the Global Digital Retail and Cultivating New Quality Productivity (Theme)

-- The industry discusses the new path of high-quality development of the retail industry (subtopic)

Reporter Ban Juanjuan and Chen Hanyang report from Beijing

At present, cultivating and developing new quality productivity is becoming the main direction of a new round of industrial transformation and upgrading. As one of the important leading industries of the national economy, how can the retail industry be driven by new quality productivity? With the in-depth integration of the digital economy and the real economy, where are the new trends and paths of digital transformation in the retail industry?

A few days ago, sponsored by Xinhua News Agency Economic Information Newspaper, co-organized by Tencent Smart Retail, and undertaken by the China Enterprise Development Research Center of Xinhua News Agency Research Institute, the "Leading the Global Digital Retail and Cultivating New Quality Productivity" Excellent Enterprise Practice Seminar was held in Beijing. As a benchmark for the digital transformation of the retail industry, representatives of outstanding enterprises such as ANTA Group, Baiguoyuan, Feihe Dairy, Gaoji Health, Laiyifen, Mengniu Group, Pop Mart, and Cotton Times attended the seminar. The guests discussed the opportunities and challenges of cultivating and developing new productivity in the retail industry in the context of accelerating the construction of a modern industrial system, as well as the high-quality development of the retail industry in the context of digital transformation.

Leading the global digital retail and cultivating new quality productivity

The site of the excellent enterprise practice seminar on "leading the global digital retail and cultivating new quality productivity". Photo by Hao Guangzhou

To the new quality of productivity to power

The development trend of the retail industry has a profound impact on the development trend of the consumer market and the overall trend of economic recovery. At the moment of accelerating the cultivation and development of new quality productivity, how can the retail industry move towards the new and seek change with quality?

"The cultivation of new quality productivity in the retail industry is of great significance to the high-quality development of the economy. Liu Tao, deputy director of the Institute of Market Economy of the Development Research Center of the State Council, said that as a key and basic industry connecting production and consumption, the retail industry is conducive to promoting the improvement of the total factor productivity of the entire economy by improving circulation efficiency and production efficiency.

"As an important engine to promote the development of new quality productivity, digital technology is one of the most important grasps in industrial practice. By unleashing the value of data elements, it greatly improves the efficiency of resource allocation and total factor productivity. Tang Daosheng, Senior Executive Vice President of Tencent Group and CEO of Cloud and Smart Industry Business Group, said.

The digital transformation of the retail industry provides a favorable foundation and conditions for cultivating new quality productivity. In Liu Tao's view, in the context of digitalization, the components of productivity have undergone profound changes. Workers are more likely to be digitally literate and skilled, and data has become an important factor of production, and its value still has a lot of potential to be tapped.

"Technology is the core and most critical element of driving retail innovation. Li Mingtao, chief e-commerce expert of the China International Electronic Commerce Center of the Ministry of Commerce, believes. For example, he said that Internet technology has greatly changed the spatial and temporal dimensions of retail, and realized the iteration of retail formats. From a time perspective, people can achieve 24-hour non-stop shopping. From a spatial point of view, people are no longer confined to the limited shelves of physical space. "At present, the rapid development of live broadcast e-commerce is also inseparable from the empowerment of new technologies such as 5G, which has greatly changed people's interactive experience. ”

In Li Mingtao's view, the new quality productivity is born by revolutionary breakthroughs in technology, innovative allocation of production factors, and deep industrial transformation and upgrading. From these three dimensions, the first thing that will drive retail transformation in the future is technology, including artificial intelligence, metaverse, blockchain, etc. With the rapid application of new technologies in global digitalization, retail scenarios will continue to find new integration points to meet or even lead future consumption. For retail enterprises, it is necessary to make full use of new technologies, improve rapid response capabilities, make products closer to user needs, and form their own competitive advantages.

Liu Tao believes that the continuous change and innovation based on digital technology, as well as diversified and personalized consumer demand, are becoming more and more obvious, and global has become an important direction for the digital transformation of the retail industry. The global domain is manifested in the integration and connection of private and public domains, online and offline, thus forming a stronger network effect, which is conducive to the stimulation of consumption potential. In the future, it is necessary to further give full play to the enabling role of digital technology, form a new combination of data elements and traditional elements, promote the improvement of supply chain efficiency and organizational reform, and promote the better development of new quality productivity in the retail industry.

Answer the questions of high-quality development

It is worth mentioning that in recent years, the retail industry has been at the forefront of the times in terms of scientific and technological innovation and application, and the integration of digital and real development, and driven by leading enterprises, it has explored fruitful results and become an important pioneer in promoting the development of new quality productivity.

"The retail industry is an important area for Tencent to deepen its industrial Internet efforts. Tang Daosheng introduced that in recent years, Tencent has been working with partners to continuously explore the path of high-quality development of the retail industry through rich digital tools, and strive to answer the three questions of "where do customers come from", "how to transform and continue to operate", and "how to continue to reduce costs and increase efficiency".

Many enterprises use a variety of digital tools such as mini programs, enterprise WeChat, video accounts, and communities to connect online and offline, public and private domains, and achieve the reach of a large number of users. For example, some sporting goods companies have connected the POS system of offline stores with mini program members, and used "smart stores" to achieve seamless connection between online and offline, precipitating offline customers into online members, and turning one-time sales into multiple contacts.

In this regard, many enterprises have realized user-centered brand operation through digitalization, turning mini programs and official accounts into user communities, and accumulating a huge number of global members. For example, some dairy brands have conducted a large number of knowledge popularization and expert Q&A through live broadcasts on video accounts, official accounts, and mini programs to help novice mothers better "raise babies" and make everyone willing to continue to consume.

A large number of enterprises use digitalization to help improve the capabilities of each link, and achieve efficient collaboration by opening up different links, flexibly respond to market changes, and realize the "fat loss and muscle increase" of organizational capabilities. For example, some snack food chain companies use AI to analyze the "explosive store model" of existing stores, and then combine location services and other capabilities to analyze the surrounding customer flow and store information to help improve the success rate of new store site selection.

In the daily management of enterprises, digitalization also effectively supports the agile, efficient, and stable operation of enterprises. For example, the scarcity of goods of some trendy toy brands, and the frequent launch of flash sales and rush purchases on Mini Programs can easily lead to malicious traffic attacks.

The potential for global digitalization is huge

At present, some leading enterprises have explored a mature path in the digital transformation of retail, but there are still a large number of retail enterprises in the process of embracing digital transformation and seeking digital development due to the lack of resource guarantee and experience reference, there is a problem of "dare not transfer, will not transfer, and cannot transfer", and urgently needs scientific theoretical guidance and verification of effective landing paths.

In this regard, Tencent Smart Retail has joined hands with Fuxi Think Tank to launch the industry's first "Global Digital Transformation Evaluation Model", which allows enterprises to quantitatively assess their own digital status, clarify major issues, and provide strong decision-making support for digital transformation and long-term investment. At the same time, based on this scientific evaluation model, Tencent Smart Retail selected the top 10 outstanding benchmarking enterprises of the year from hundreds of retail enterprises, providing a demonstration and reference for the entire industry.

Chen Fei, Vice President of Tencent Smart Retail and Vice President of Tencent Cloud, believes that retail enterprises should actively embrace new technologies, use digitalization to reduce costs and increase efficiency, and build a more solid "moat" for enterprise management. Horizontally, we will break through the barriers between "research, production, supply, marketing and service", and pursue close cooperation between the front-end of the business and the technical back-end vertically. At the same time, enterprises can find concrete references through model industry benchmarking and evaluate their own strengths and weaknesses in the process of digital transformation, so as to formulate more accurate and effective digital development strategies and transformation improvement measures.

It is worth noting that the rapid development of artificial intelligence technology and the deepening of industry applications have also brought huge innovation space to retail enterprises.

"We have observed that retail companies are now actively embracing AI models and exploring various digital applications in the industry. Chen Fei said. In her view, many typical application scenarios of artificial intelligence models have emerged in the retail industry, such as intelligent customer service, content creation, line sketching, AI quality inspection, digital intelligent people, and so on.

The participants agreed that with the development of large models and AIGC in the future, the pace of innovation in smart retail will be further accelerated. At the same time, the abundant digital tools will accelerate the digitalization of the retail industry, meet consumer needs in a more efficient and personalized way, and promote the development of the industry and the economy and society to a higher quality. How to achieve a more efficient and deep integration between AI technology and business scenarios still needs to be actively explored by relevant enterprises.

Source: Economic Information Daily