Because of new technologies, artificial intelligence, deep learning, etc., the efficiency of commercial retail has undergone a substantial change. New consumption drives business changes, I think it can be interpreted from three aspects. At the same time, for consumers, the products not only satisfy the functional requirements, but also pursue the identity of brand and self-worth. So today's sales model needs to be more efficient, behind which is the change brought about by technological progress.įrom a consumer perspective, today’s consumers no longer only want to buy products, but more about services they no longer pay much attention to price, Pay more attention to value and the requirements for products are not limited to quantity, but also to eat fresh and pay more attention to quality. Today's mobile payment, today's various videos, live broadcasts, and various recipes will provide consumers with different conveniences for retail. The basis of all this is technological changes. Third, more and more people are very busy and the time cost is high, so we have to solve consumers' demand for time.įourth, people need more identification, so we are always cognizing and choosing each other. We need to solve the problem of laziness, so companies need to make consumers more convenient and convenient. Second, consumption growth and consumption upgrades are because we are getting richer and our life is getting faster and faster, so we need to relieve our hunger and want delicious food, not cheap things. From the perspective of Hema, I think there are several major changes.įirst, the post-80s and post-90s generations have become the main force of our consumers, and there are more and more single families, and more and more DINK families. Today's digital drive changes in the retail industry. So the theme of my speech is "New Consumption Drives Business Reform". I think this is what today's entrepreneurs want to pursue. problem.īut we are full of expectations for the future and are brave enough to change. Then why can it be said that it is the worst era? Because retail is a very traditional industry, we once established a modern retail enterprise-a chain model 20 years ago, but when faced with the wealthy consumers in China, this format is still not "sexy" for consumers. Everyone’s pursuit of goods and services has become completely different from the past, so we must create a variety of new business scenarios. ![]() ![]() Why is it the best era? Because today’s consumers have changed, and today China has become prosperous. ![]() The previous entrepreneurs all said that this is the worst era, but also the best era. The following is the full text of Hou Yi's speech: "This is the best time and the worst time." On December 8, Hou Yi, Vice President of Alibaba Group, President of Digital Agriculture Business Unit, and President of Hema Business Group in 2019 (18th ) So said at the annual meeting of Chinese business leaders.
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