The retail revolution has triggered the re-evaluation of offline value of the industry, the retail stores that were once regarded as “high value” have become the main focus of Internet giants
At the Alibaba LST Retail Conference, Lin Xiaohai, vice president of Alibaba and general manager of the LST Retail business, announced that the number of retail outlets covered by LST has exceeded 1 million, which has become the first platform for the fast-moving “B2B”.
This is also the completion of the commitment on August 28 last year, that is, “for LST to cover 1 million retail stores in the next year”. Lin said that the goal of LST is to cover 30% of the total number of small stores sales nationwide within 3 to 5 years.
In the past year, LST Retail has already had 5,000 private partners and 300 corporate partners. More than 3,500 FMCG brands have settled in the LST Retail platform, covering more than 1 million offline stores, including several thousands of Tmall stores.
Lin Xiaohai said that in the past year, the number of small stores in the country has decreased by 5%, and the business of the 30% that “survived” declined, and 3% of the surveyed stores plans to close.
In addition to the scale reduction, the current retail stores are facing serious polarization, and behind the polarization, there is the digitization of consumer behavior, fragmentation of consumer scenes, and diversification of consumer demand. In Lin Xiaohai’s view, LST Retail can solve the problems that China’s retail stores face today, and it is also an opportunity.
To solve this problem, Lin Xiaohai believes that achieving the digitalization of small stores is the most important. Therefore, LST Retail has released a smart store manager for store owners. Ruyi is a POS system that connects 98% of the market’s small-selling products and can achieve code scanning in one second.
Different from the traditional POS machine, combined with Ali Big Data, the shop owner can know the demands of customers and achieve inventory replenishment with one- click. Combined with Ali’s ecological resources, the shop owner can use Ruyi to reach the target consumers through various channels such as Shoutou, Tmall, Gaode, and Alipay.
MORE ON THIS TOPIC