The report describes a booming global e-commerce market
According to a report by eMarketer, Chinese e-commerce is the largest in the world, more than three times that of the United States. This is the rise of New Retail, which combines the best of online and offline commerce to encourage higher levels of brand and consumer engagement, which is stimulating retail innovation worldwide.
The report describes a booming global e-commerce market that is expected to grow by 20.7% this year to $ 3.5 trillion in sales. China’s $ 1.94 trillion in sales contributed 54.7% to that figure, according to eMarketer.
New Retail is based on the first approach to China’s digital commerce
To explain the impact of digital commerce on the retail trade, eMarketer opposed New Retail, a term widely used in China, with “omnichannel”, commonly used in the West.
New Retail is based on China’s first approach to digital commerce because it has largely outstripped Western stores and moved quickly online. Omnichannel, however, is the West’s attempt to direct digital services over its long-standing infrastructure to offer consumers the purchasing efficiencies that they have become accustomed online.
eMarketer stated that the United States and the United Kingdom have advanced in some new retail operations
In the examples of the report, there is Alibaba Freshippo. This chain, in fact, is centered on the consumer and is a place where “customers can shop in person, dine and deliver orders”.
Among other states, in addition to China, eMarketer has stated that the United States and the United Kingdom have advanced in some new retail operations that are better suited to local consumers, such as “click and collect“, which allows consumers to order online and pick up your items in a store.