New Retail strategy aims to establish the business as a consumption solution provider, leveraging big data to enhance consumers’ shopping experiences. The approach focuses on:
#1 – Digitalization: Overhauling existing operating model—with a particular focus on redefining its brand and digitalizing its supply chain to improve efficiency.
#2 – Omnichannelization: Leveraging big data capabilities and Internet mindset to enhance the Omni-Channel experience.
#3 – Platformization: Further integrating unified data platform by unifying online and offline information regarding customers, products and services.
#4 – Entertainmentization: Integrating leading fashion, art and lifestyle icons into malls, in line with consumers’ growing preference for experiential retail.
#5 – Gamification: Boosting engagement by adopting human naturally competitive behaviour to win. Generate excitement, motivated by reward, from monetary, physical, or simply bragging rights.