Chinese physical retail: running in innovation, breaking through barriers, and moving forward
2024-04-26
April 20, 2024 is the 30th anniversary of China's full-featured access to the Internet. Over the past three decades, China has developed into the world's largest Internet market. Network technology has broken the temporal and spatial boundaries of the retail market, making the retail industry one of the most rapidly changing industries. Focusing on the transformation of physical retail, the economic in-depth reporting program "Economic Half Hour" of China Central Radio and Television has launched a series of reports called "Breakthrough Observations" to enter the front line and closely observe the breakthrough path of China's physical retail, explore the changing times of Chinese consumption, and showcase the vitality, space, and resilience of China's economy in breaking through waves. Since the beginning of 2024, the hot consumer market has demonstrated the vitality of the Chinese economy. According to data from the National Bureau of Statistics, the total retail sales of consumer goods in the first quarter were 12032.7 billion yuan, a year-on-year increase of 4.7%. "Popularity" is the most intuitive perspective for observing consumer vitality. In Changsha, Hunan Province, a large-scale snack shop selling oversized packaging is thriving, with long queues outside the store, and many consumers have to wait for one or two hours to enter. In Leiyang, Hunan, a short 170 meter street has multiple mass selling snack shops. Nowadays, there are over 4000 mass selling snack shops in Hunan Province alone. It can be seen that the changes come from strong demand, and the traditional retail industry is trying its best to optimize the circulation process, solve logistics bottlenecks, cultivate its own internal skills, and adapt to emerging markets. From first tier cities to the vast third - and fourth tier cities and county markets, the sinking focus of the market and the demand for updates have created new hotspots in Chinese consumption, and also demonstrated the vastness and diversity of the Chinese consumer market. In recent years, with the booming development of online retail, thousands of physical stores, supermarkets, convenience stores, and shopping centers in China are undergoing unprecedented profound changes. In Xuchang, Henan, a supermarket has ignited a city. Before opening the door, you have to queue up an hour in advance, and specialty products are quickly sold out. Purchase restrictions have become a high-frequency buzzword - this chain supermarket, known as the "only 5A level commercial supermarket scenic spot in the country," is not keen on price wars and even rarely offers discounts. By being kind to employees and customers, offering genuine products at reasonable prices, and striving for excellence in service, not only has the store's business been booming, but it has also driven local tourism and injected vitality into the local economic development. In many places, more supermarkets are making efforts to rebuild their supply and marketing chains, directly communicate with manufacturers, create shared warehouses, reduce costs, and provide intelligent services. They have opened multiple chain stores, greatly facilitating the daily lives of the people. Although regional chain supermarkets have their own business strategies, they share the fundamental logic of the retail industry - transforming the circulation system, reducing procurement costs, striving to satisfy consumers, repeatedly consuming, and generating substantial profits. This is like "the most high-end ingredients often only require the simplest cooking methods", reflecting the principle that "only sincerity can break the hypocrisy of the world, and only reality can break the emptiness of the world". Only by insisting on doing things within their capabilities like this, can we stick to our original intention, let the retail industry go through the cycle, grow tenaciously, and live as a "wutong tree", attracting "golden phoenix" consumers from all over the country with its luxuriant branches and leaves. The essence of instant retail is
Edit：GuoGuo Responsible editor：FangZhiYou
Source：gmw.cn
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