Business Credit Substitute Whitepaper

New retail, that is, the enterprise relies on the Internet to upgrade and transform the production, circulation and sales process of goods through the use of advanced technologies such as big data and artificial intelligence, thereby reshaping the business structure and ecosystem, and providing online services. A new retail model of offline experience and deep integration of modern logistics.

With the rapid development of science and technology, innovative technologies represented by big data, cloud computing, Internet of Things, and virtual reality have gradually played a vital role in the new retail sector, making the retail industry undergo radical changes and bringing people all over the world. Some consumer experiences. In 2017, the scale of China’s new retail store transactions reached 38.94 billion yuan, and will reach 1.8 trillion yuan by 2022. The compound growth rate will reach 115.27%. This shows that the next five years will be represented by unmanned convenience frames and unmanned retail stores. The new retail model is subverting people’s original understanding of the retail industry!

The core of new retail must be big data, and the efficient processing of big data is inseparable from artificial intelligence. Artificial intelligence will effectively replace some of the labor in the production, supply and distribution links. According to Goldman Sachs, by 2025, artificial intelligence will save the global retail industry $54 billion/year in costs, while generating $41 billion/year in new revenue. CIC consultants believe that the above forecasts are still relatively conservative, and the profits and benefits that artificial intelligence brings to the retail industry in the future are far more than that. Taking Jingdong’s customer service robot JIMI as an example, in 2017 alone, it saved billions of labor costs for Jingdong. For example, Baidu Big Data has specially developed artificial intelligence + big data promotion plan for Chaoyang Joy City, and plans to promote a more targeted and accurate promotion plan. This personalized promotion plan has greatly increased the sales volume of Chaoyang Joy City. Its member sales have increased by 12%, the unrecommended brand recommendation conversion rate has increased by five times, and the inactive consumption rate of inactive members has increased. 53%.

In 2018, artificial intelligence accelerated the penetration of the retail industry. The more mature landing scenarios can be divided into five categories: smart unmanned stores, smart warehousing and logistics, intelligent marketing and experience, intelligent customer service, and intelligent virtual experience. For example, smart warehousing also has huge market demand, which is expected to exceed 95.4 billion yuan by 2020.
Business Credit Substitute whitepaper

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Business Credit Substitute Whitepaper