Is New Retail the final form of retail? The Past and Future of New Retail

Liu Jun, author of The New Retail Revolution: What's New Retail from China?, gave a special lecture at Futago Tamagawa Tsutaya yesterday

The content of the talk was basically based on the content of the book, but in Q&A;A, "Is New Retail the Final Form of Retail? The answer to the question "What do you think?

How will China's new retail landscape change in the future?

  • What is new retail in the first place?
  • looking back at the "newretail" of the past
  • What's the future of "new retail"?
  • Compilation

What is New Retail?

In thinking about the future of new retail, it is necessary to first consider what new retail is.

New Retail, Liu says, is "more efficient retail" and not the "most efficient retail".

In other words, in terms of increasing efficiency, new retail is something that has been and will continue to be around.

A look back at past "New Retail"

As an example, Mr. Liu developed a story about the "new retail" case of the past.

In the U.S., there was a "new retail" in the 19th and 20th centuries, he says, with Sears and Walmart leading the way in the 19th and 20th centuries, respectively.

The figure shows the following.

What's interesting here is that all of these "new retailers" have come about because of technological innovation.

In the case of Sears, famous for his invention of the catalog mail order, transportation by rail was necessary for it to be viable.

In Walmart's case, it was successful in its model of building huge shopping centers on cheap suburban land, taking advantage of technological innovations such as the development of cars and roads that made it possible to shop in the suburbs, and the proliferation of refrigerators that made it possible to buy in bulk and store them at home.

And now, in the 21st century, Internet innovation is bringing out new forms of retail, such as Amazon Go and 盒馬鮮生 (Houma Fresh).

If we look back at history in this way, we can see that New Retail has existed in each era, and that the background was technological innovation.

What will be the future of "new retail"?

When you think about it, what will the future of "new retail" look like?

In Liu's view, "even more efficient retailing" will continue to emerge as technology develops.

An example of this is the widespread use of 3D printers, which should revolutionize logistics and give rise to a new form of retailing (new retail) if a 3D printer is always available in every home.

Other possibilities include robots, self-driving cars, AR/VR/MR, and more.

It is interesting to look at the hype cycle of advanced technology as published by Gartner and to think about the future development of technology and the retail development that goes with it.

roundup

In this article, based on the content of a special lecture by Liu Jun, author of "The New Retail Revolution: What is New Retail from China?", we have answered the question "Is New Retail the Final Form of Retail?

Conclusion: Retailing will continue to change, and in the coming era when the Internet is entering the offline world, there will be many more developments.

As we learn about the latest developments in China, we would like to think about what can be done in other countries.

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