2017年CRI Alibaba introduces "new retail" to boost sales amid shopping spree

 

For this year's 'double 11' shopping spree, Chinese Internet giants are turning to new technologies to help boost sales both online and offline.

Meanwhile regulators are said to be keeping a close eye on e-commerce fraud as country's biggest online shopping day rapidly approaches.

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Online retailers² are gearing up for the annual online shopping frenzy³, which falls on November 11th, or 'double 11.'

This year, Alibaba is hoping to increase its sales both online and offline through the idea of "new retail¹," a concept which incorporates high-tech⁴ and new business models.

Dong Benhong, Chief Marketing⁵ Officer with Alibaba, says over 1 million vendors⁶ are going to participate in the "new retail" concept to help connect both online and offline sales.

He says 100-thousand of them are smart online stores which offer intelligent and personalized services for consumers.

"We adopted the technology of 'Location Based Service' to help build a particularly intimate relationship instantly between offline stores and consumers. The technology helps forward information of certain brands and promotions⁷ to consumers. Meanwhile, the experience at a brick-and-mortar store is also being enhanced through the use of Artificial Intelligence and other services, like instant delivery of new products and offline store experiences,” Dong added.

The concept of "new retail" has been proposed by Jack⁸ Ma, chairman of Alibaba. 

His suggestion is a new concept of retailing⁹ coming together with modern logistics, big data and cloud computing¹⁰ which will help provide a new shopping experience for consumers. 

Chu Yin from CCG, a global think-tank, suggests the "new retail" concept could be a game-changer.

"Previously¹¹, sales during the "double eleven" festival were lopsided, as online sales and offline sales were separated. Consumers were rushing to snap up orders, going through frantic¹² shopping and waiting for deliveries. This sometimes resulted in a slump¹³ in offline sales. The introduction of "new retail" this year helps traditional online purchases, as they can also be realized through offline shopping,” Chu suggested

Under the concept, customers are allowed to take a closer look at the products at a nearby store and get discounts and e-coupons by scanning a QR code or even the product at the store.

Official stats show China has the world's largest e-commerce market, with online retail sales reaching nearly 5.2 trillion yuan or more than 750 billion U.S. dollars in 2016, a year-on-year increase of 26 percent.

But due in-part to the enormous growth, the sector¹⁴ is also running into problems.

To boost sales, e-commerce operators have been known to either deceive or mislead consumers by faking sales volumes or manipulating user comments.

Officials with China's top economic regulator have issued warnings to consumers.

Businesses are now facing the possibility of criminal charges if they're found uploading false promotions or fake comments. 

Chen Hongwan is a senior official with the National Development and Reform Commission. 

"Last October, eight government departments, including the NDRC and the People's Bank of China, along with eight major e-commerce companies, signed an information-sharing agreement to crack down on fake transactions. Led by the first and second rotating presidents, Alibaba and JD.com, five blacklists have been created, with a total of 22 criminal groups and 346 businesses having been exposed for fraudulent practices by the foundation of the Anti-e-commerce Fraud Alliance. The campaign has achieved excellent results,” said Chen

November 11th first started out around a decade ago as an online trend among single college students, who would treat themselves to gifts they purchased themselves on the date, which is 1-1-1-1 on the calandar, with the number-1 obviously a symbol for being single.

Catching¹⁵ on to the trend, Alibaba began offering promotions and sales on that day 9-years ago to try to generate increased sales.

Since then, November 11th has become the country's busiest day of the year for online retailers, with billions of US dollars worth of goods being bought and sold on the day. 

This year's sales fall a week from this coming Friday.

1 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

2 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

3 frenzy   

n.疯狂，狂热，极度的激动

参考例句：

• He was able to work the young students up into a frenzy.他能激起青年学生的狂热。
• They were singing in a frenzy of joy.他们欣喜若狂地高声歌唱。

4 high-tech   

adj.高科技的

参考例句：

• The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
• The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。

5 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

6 vendors   

n.摊贩( vendor的名词复数 )；小贩；（房屋等的）卖主；卖方

参考例句：

• The vendors were gazundered at the last minute. 卖主在最后一刻被要求降低房价。
• At the same time, interface standards also benefIt'software vendors. 同时，界面标准也有利于软件开发商。 来自About Face 3交互设计精髓

7 promotions   

促进( promotion的名词复数 )； 提升； 推广； 宣传

参考例句：

• All services or promotions must have an appeal and wide application. 所有服务或促销工作都必须具有吸引力和广泛的适用性。
• He promptly directed the highest promotions and decorations for General MacArthur. 他授予麦克阿瑟将军以最高的官阶和勋奖。

8 jack   

n.插座，千斤顶，男人；v.抬起，提醒，扛举；n.（Jake）杰克

参考例句：

• I am looking for the headphone jack.我正在找寻头戴式耳机插孔。
• He lifted the car with a jack to change the flat tyre.他用千斤顶把车顶起来换下瘪轮胎。

9 retailing   

n.零售业v.零售(retail的现在分词)

参考例句：

• career opportunities in retailing 零售业的职业机会
• He is fond of retailing the news. 他喜欢传播消息。 来自《简明英汉词典》

10 computing   

n.计算

参考例句：

• to work in computing 从事信息处理
• Back in the dark ages of computing, in about 1980, they started a software company. 早在计算机尚未普及的时代（约1980年），他们就创办了软件公司。

11 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

12 frantic   

adj.狂乱的，错乱的，激昂的

参考例句：

• I've had a frantic rush to get my work done.我急急忙忙地赶完工作。
• He made frantic dash for the departing train.他发疯似地冲向正开出的火车。

13 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

14 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

15 catching   

adj.易传染的，有魅力的，迷人的，接住

参考例句：

• There are those who think eczema is catching.有人就是认为湿疹会传染。
• Enthusiasm is very catching.热情非常富有感染力。