Analysis of the current situation of China's retail industry and the key points of countermeasures

The retail industry is one of the most important industries in a country, and the total retail sales of goods of the whole society in China in 2020 was 3.92 billion. With the increasing number of cell phone payment and shopping users as well as their usage rate and the continuous development of digital technology, and the increasing willingness of enterprises to digital transformation, China's smart retail industry is expected to continue to develop rapidly in the future, and it is expected that the market size of China's digital retailing market will account for 5% of the total retail sales of the whole society by 2026.

Retail industry grows rapidly, the number of mobile users continues to rise

Retail industry refers to the sale of goods through the form of buying and selling the products produced by industrial and agricultural producers directly sold to the residents as a living consumption or sold to the social group for the consumption of the public **** the commodity sales industry, is one of the most important industries in a country. Intelligent retailing is the use of the Internet, the Internet of Things technology, sensing consumption habits, predicting consumption trends, guiding production and manufacturing, providing consumers with diversified, personalized products and services. The retail industry is a barometer reflecting the economic operation of a country and region, and is an important standard for testing whether the national economy is developing in a coordinated manner and whether the social and economic structure is reasonable.

China's total retail sales of goods for the whole society was 2.69 billion yuan in 2015, and will be about 3.92 billion yuan in 2020. the 5-year compound growth rate is 7.82%. Among them, the share of online retail sales increased from 10.8% in 2015 to 24.9% in 2020.

According to the data of CNNIC 47th Statistical Report on the Development of the Internet in China, as of December 2020, the scale of China's cell phone online shopping users reached 781 million, accounting for 79.2% of cell phone netizens; the scale of cell phone online payment users amounted to 853 million, accounting for 86.5% of cell phone netizens, indicating that the mobile shopping and digital consumption methods have occupied the mainstream

Enterprises with high proportion of digital transformation and strong willingness to invest

Intelligent retailing is an innovative upgrading of the traditional retail industry based on the development of digitalization. Digitalization refers to the integration of digitalization and manufacturing technology in the context of the integration of digitalization and manufacturing technology, and in virtual reality, computer networks and multimedia and other supportive technologies, according to user needs, rapid collection of resource information, product information, process information and resource information to analyze, plan and reorganize, in order to achieve the simulation of product design and functionality, as well as prototyping, and then quickly produced to meet the user's requirements for the performance of the products The entire manufacturing process.

With the continuous development of digitalization, more and more enterprises are realizing the importance of digital transformation. According to the "Road to Enterprise Digital Upgrade - Analysis Report on the Development of Digital Transformation of 100 Enterprises" jointly released by NetEase Intelligent Enterprise and Roland Berger, 8% of the enterprises participating in the research are born digital enterprises, and 61% of them have already been trying to digital transformation.

From the perspective of the retail industry, according to relevant public data, 47% of merchants have an annual investment budget of less than 100,000 yuan for smart retail, and more than 35% are willing to invest more than 200,000 yuan or more per year in smart retail. This shows that most merchants are willing to invest some level of expenditure in the construction of smart retail.

Digital upgrading of the retail industry will continue to accelerate, and the industry scale is growing rapidly

Currently, digital upgrading has already entered the stage of large-scale application in the retail industry, and in the future, with the continuous upgrading of digital technology, it will accelerate the development of China's smart retail industry.In 2017, the market size of the digital retail market accounted for about 0.12 percent of the total retail sales of the whole society in China. In 2017, the size of the digital retail market accounted for about 0.12% of China's total retail sales, and according to the analysis of the development status of the digital transformation of the retail industry and the historical growth rate forecast, it is expected that in 2020, the size of China's digital retail market accounted for 1% of total retail sales, and this proportion will reach 5% in 2026.

-- The above data refer to China Retail Industry Market Outlook and Investment Strategy Planning Analysis Report