New retail is no longer fresh now.

When Jack Ma first proposed the new retail concept at the company’s annual Yunqi Conference in October of 2016, he said: “There is no e-commerce in the next ten years or twenty years, there’s only new retail.” As a result, almost all businesses began to call themselves new retailers. Some say new retail is the combination of big data and retail, some say it is the merge of AI and retail, while others say O2O is new retail. So what is new in the new retail sector? What does the future of new retail look like?

Wang Xiruo, CTO of Hema Xiansheng, discussed the role of technology in the future of new retail on stage at TechCrunch Hangzhou 2018. Wang has been working in Alibaba for ten years. Wang was part of the team that built Tmall from the ground up. After spending some years in the online retail sector, Wang decided to join Hema Xiansheng (Hema) where she witnessed the transformation of the traditional retail sector.

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