Tiger Yang, Co-Founder and President of APEX Technologies, spoke at GDMS Global Digital Marketing Summit.
On December 6th — 7th, the “GDMS Global Digital Marketing Summit” was held in Shanghai. The summit attracted many senior executives from companies such as Johnson & Johnson, Procter & Gamble, BMW, Infiniti, Porsche, China Southern Airlines and others. Our very own, Tiger Yang, Co-Founder and President of APEX Technologies, was invited to host the “New Retail Panel Discussion” of the summit. He discussed how new technologies can help make the consumer’s buying experience more efficient and help the enterprises providing that experience.
In the past couple of years, the concept of “new retail” has been a hot topic of discussion. Whether it is a traditional retail enterprise, a startup, or an Internet e-commerce giant, the “new retail” concept is being explored thoroughly from concept to practice. With the ever-growing digitization, e-commerce has become an important distribution channel for the retail industry — according to Deloitte’s data, China’s online shopping ratio is 18.7 times bigger than the international average. As traditional offline channels still play an important role in the user experience, combining both channels became an industry standard and a way forward. The “new retail” model integrates both online and offline distribution channels, with consumers at the core and with strong emphasis on customer experience unification.
Applying customer data to optimize the buying experience is typically the first bigger problem encountered by enterprises during their digital transformation. Online and offline consumer data can be combined offline; anonymous consumers can become product “ambassadors” and gradually build their connection points with the enterprises on a personal level. In “new retail”, the physical store can be both a sales terminal or an information terminal. Various membership systems, once implemented, can provide consumers with personalized and quality recommendations.
As Tiger Yang pointed out to the participants: “New retail” is a technological revolution, disrupting the entire retail industry. All interactions are governed by consumer demand, and the relationship between merchants and consumers is reinvented, which is the fundamental starting point of “new retail”. As a company providing enterprise customer data technology solutions, we believe that adapting to the needs of enterprise customers and the continuous evolutionary iteration of the scene is the cornerstone of enterprise survival. Helping those enterprises generate valuable marketing insights based on consumer data and feedback is the key to success.
The digital era generates new marketing channels on a daily basis, and a large number of these channels will generate multi-dimensional data. This, in turn, requires continuous iteration and innovation of data technology to gather and process this new data and ultimately give feedback to enterprises. The future of competition in the retail industry lies in the battle for this emerging scene — those that succeed in quickly implementing new technologies can get a head start in the competition.
