The Madrid-based department store is looking to leverage a range of Alibaba Cloud products
New Alibaba agreement in Europe. El Corte Inglés, the largest department store in Europe for sales, has entered into an agreement with Alibaba Group regarding retail, payments, cloud computing and New Retail.
El Corte Inglés is headquartered in Madrid and, according to sources, is looking to leverage its department store with a series of Alibaba Cloud products, such as big data analytics and artificial intelligence tools, to offer more customized to its customers.
El Corte Inglés is also planning to introduce new sales channels in China for “made in Spain” products, opening Tmall flagship stores.
The two companies are trying to explore logistical collaborations
The interest of the two companies is essentially logistic: companies are trying to explore logistic collaborations, how to exploit the shipping capacities and distribution centers of El Corte Inglés in Spain to support the local evasion services of AliExpress, the global B2C market of Alibaba.
“This agreement will allow us to combine the physical and online worlds to offer the best shopping experience to our customers, together we are writing the future, placing ourselves at the forefront of commerce and technology,” said Victor del Pozo, CEO of El Corte Inglés.
El Corte Inglés has already collaborated with the Alipay payment system last March
In March, El Corte Inglés worked with the Alipay payment provider, owned by the Alibaba branch, Ant Financial, to introduce the service into its department stores.
Now the Chinese buyers of El Corte Inglés have the same purchasing experience in Europe they enjoy in China, paying for purchases by scanning a QR code on the mobile app, without the need to bring cash or credit cards.
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