Several key issues to be solved in new retail/smart retail

E-commerce has changed the circulation model of goods. But until now, the vast majority of transactions still occur offline. This is why the new retail/smart retail concept has emerged.

Several key issues in new retail/smart retail.

1. Customer acquisition and customer retention issues in physical stores

This is one of the very big pain points for brick-and-mortar stores. It almost determines the life or death of a physical store.

Physical store customer acquisition and customer retention, to put it bluntly, is a matter of customer growth and repurchase rate of the physical store.

One of the characteristics of a physical store is that it can only gain customers from its surroundings and the flow of people coming and going.

2. The problem of turning one-time transactions into long-term business

In the past, selling TVs meant selling the TVs and that was it. In the future, after the TV is sold, the content output through the TV will be sold, including paid videos, applications, etc.

Turn a one-time transaction of goods into a long-term paid service.

Another option is to sell for rent. By selling large quantities of goods at low prices and paying for them over a long period of time, the total profit is greater than the original one-time transaction.

3. Efficiency and cost issues of physical commerce

Improve efficiency and reduce costs. In particular, artificial intelligence is used to reduce human involvement in the work process, thus speeding up efficiency and reducing costs.