A digital blueprint for retail businesses in Mainland China

Takeaways

• Exploring the retail trends in this market full of opportunities and innovations
• Getting to know the E2E omnichannel experience to stand out in the competitive ecommerce landscape
• Striking a balance between the application of global strategy with localisation of business processes and solutions to meet consumer need
• The more conscious businesses are of their organisational strategy and skills and maturity level, the better they can navigate the retail industry

Home to the largest digital population of 1.02 billion and 983 million social media users, China continues to reimagine the retail landscape in the digital economy. The e-commerce market is expected to grow by 11.68% year-on-year to reach US$2,676.4 billion in 2022.

China has a unique footprint of e-commerce platforms, bearing no similarities to other countries. Leading sites like Taobao, Tmall and Pinduoduo have a market share that accounts for 80 percent of internet users here. The number of platforms available create an omnichannel within the omnichannel, offering a diversified range of digital touchpoints for different target businesses and industries.

The industry is experiencing a disruption like no other, spurred by digitalisation happening at an unprecedented pace. Consumer behaviour is evolving rapidly, placing high expectations for retailers to invest in IT solutions in order to elevate the future shopping experience.

Nicolas Nesme, Head of China at VISEO observes, “Retail enterprises are racing to expand omnichannel operations and enhance their consumer-facing digital capabilities. But to unlock significant value, this shift must be made in tandem with the digitization of back end infrastructure and core business processes.”

So, how can retailers evolve their IT solutions to reap higher returns from their investments in digital transformation? What do the stages of growth look like for retailers in China? Download here