As “new retail” changes from jargon to oft-used phrase, Tencent has thrown their hat into the ring. However, they don’t plan on opening their own stores (the WeChat pop-up seems to have been exactly that). Rather they want to be the foundation to help the retail industry achieve two goals: the digital upgrade of stores and […]
This week we talk about the food delivery industry and how its another proxy battle between Alibaba and Tencent as well as paying with your face. Download this episode Links Timmy Shen: The strategies, tactics, and challenges for China’s food delivery industry BingoBox unveils new AI tech for its unmanned stores Masha Borak: Forget QR […]
It seemed like a flop a year ago—but autonomous retail is back in the post-Covid world.
This week saw TechCrunch land in Shanghai for yet another great event. While Shenzhen might be the hardware capital, Shanghai has a potent mix of hungry entrepreneurs from all over the world. We were delighted to welcome back for the 7th time more than 8000 people including 600 for the hackathons, 300 investors, 200 startups […]
After breaking another record with RMB 168.2 billion (more than $25.3 billion) in GMV achieved in 24 hours on Singles’ day, Alibaba is touting its foray into its new retail strategy as it announced today a strategic alliance with Auchan Retail S.A. and Ruentex Group that brings together their online and offline expertise to explore […]
A year after getting kicked off Nasdaq, former unicorn Luckin Coffee is still delivering cheap coffee in China.
The launch of Apple’s new iPhone X equipped with tech that turns your face into a poop emoji seems to have left China’s consumers less than impressed. This shouldn’t surprise us—authentication through facial recognition and other biometric features has been gaining traction in China for quite some time. From fighting toilet paper thieves with dispensers […]
In the past decade, the whole world has witnessed how mobile phones and smart devices have revolutionized the way people live and think. As the iPhone, the forerunner of this evolution turned 10 in 2017, Apple’s App Store and competing platform Android Market are celebrating their tenth anniversaries in 2018. The decade-long development has brought […]
In June 2017, the total retail sales of consumer goods in China reached RMB 3.9 trillion ($440 billion), up by 11.0% year-on-year, China Internet Watch is reporting. That is approximately the same amount Greece was loaned over a five year period for its bailout ($440 billion), meaning the amount of money Chinese consumer spent on consumer goods for one […]
Luckin looks to fund its aggressive growth tactics including a vending machine initiative, and expansion into other consumables and overseas markets.