Summary of Catering to the Mixed Need for Consumption Upgrading and Degrading Matters More than Taking Sides in the Era of New Retailing

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Catering to the Mixed Need for Consumption Upgrading and Degrading Matters More than Taking Sides in the Era of New Retailing  summary
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In March 2015, online retailer Alibaba launched the offline supermarket chain Hema, ushering in the era of brick-and-clicks “new retail.” Since then, other Chinese Internet giants have been partnering with offline companies that have physical locations. The trend traveled overseas with Amazon’s acquisition of Whole Foods. What will the world look like as online behemoths continue to curl their tendrils into the world of brick-and-mortar? Writing for TMTPost, a Chinese platform for technology and business news, Zeng Xiangling offers predictions for the retail market and suggests how offline retailers should respond to the current market.

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Zeng Xiangling writes for TMTPost, a platform that provides current information on business and technology in China.

 

Summary

China’s entry to consumerism has been a fascinating ride that took shape in roughly four stages. First, as the economy modernized and new products flooded the market, Chinese consumers rushed to replace what they owned: Gone were traditional green canvas shoes, ditched in favor of Western styles; black-and-white TVs gave way to color and so on. The second stage began when Jack Ma’s Taobao online market gained supremacy. The Internet democratized sales, and consumers reveled in cheap products. The third stage began when consumers took to mobile while simultaneously...


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