At Alibaba’s Computing Conference, Jack Ma focused his speech on five areas that are being transformed by technology. The list included new finance, new manufacturing, new technology and new energy with new retail at the center.
Alibaba wants to use data and technology to transform retail, including offline retail, which accounts for 82% of the total.
New retail is Alibaba’s strategy to redefine commerce by enabling seamless engagement between the online and offline world. It’s not about converting online users to offline customers or vice versa. It’s about building a retail ecosystem that blends online and offline channels in a unified way that features the consumer at the center, often in new and unexpected ways.