Marriage On The Side Of West Lake: Shake Up The Retail Sector And Shake The Industry

The cooperation between Yintai and Ali is known as the marriage of West Lake side. It is a shock to the industry. Whether the future crystallization of the two sides is speculation by the industry is worth looking forward to.

"Ali electronic commerce company is like the air force. The traditional retail business is like infantry. There needs to be a special force. This special force can talk with the air force and infantry to combine the two. I hope our Yintai business can cooperate with Ali to produce chemical reaction and become a special force. - Shen Guojun

In essence, Yintai can stick to its dominance in the retail industry of Jiangsu and Zhejiang because of its constant change and innovation.

In March 20, 2013, intime department store (Group) Limited was renamed "Yintai business (Group) Limited", from "department store" to "business", not only means Yintai business The shopping center and e-commerce business will be promoted to a strategic height, and will also be the focus of future business development.

As a typical Zhejiang businessman, adaptation to the general trend and flexibility are part of Shen Guojun's nature. In terms of the retail sector, he changed the way in addition to increasing the construction of experiential shopping centers, increasing the proportion of new types of catering and entertainment, enriching shopping experience and promoting experiential consumption. Another way to "change" is to use external force, such as cooperation with Ma Yun. As a benchmark for retail industry, the deep cooperation between Yintai business and Alibaba is known as a classic case of traditional retailers embracing the Internet, which has been highly praised by Ma Yun, calling Shen Guojun the first traditional retailer to realize the crisis and spanform it.

" Ali electronic commerce company Like the air force, the traditional retail business is like an infantry, which needs a special force. This special force can talk with the air force and infantry to combine the two. I hope our Yintai business can cooperate with Ali to produce chemical reaction and become a special force. Shen Guojun thus compares his cooperation with ALI.

In 2013, Yintai business was rated by Morgan Stanley as one of the 16 leading companies in the global retail revolution due to its excellent positioning and market share. 2013 double eleven, Yintai business (Group) announced cooperation with Tmall O2O, to promote the integration of offline department stores and electronic business. Pilot WeChat secure payment, access Alipay wallet, join hands Alipay Wallet first push virtual membership card "Yintai Bao", get through cards, store value, pay the full link......

In March 2014, Alibaba Group invested 5 billion 370 million Hong Kong dollars in strategic investment in Yintai business. At the same time, the two sides announced that they will build a basic system to open up online and offline businesses and open to the whole society, serving the major business groups, retail brands and retailers.

Some people like to think about the future mode of cooperation between the two sides. Many shopping centers and department stores in Yintai business can be the best scenes for consumers to experience products and services as offline stores. Consumers feel that products are good, they can be purchased directly from the mobile terminal scan code or put into the shopping cart. Consumers can watch a movie in the mall, drink tea with their friends, and do not have to bring home the products purchased. Taobao or Tmall will send them home promptly according to the addresses left by consumers. Under this mode, offline shopping mall has become the place of user experience and the medium of importing user traffic. Online and offline complement each other, the better user experience, the more users, the greater the role of online diversion.