With the advent of the 5G era, there will be three major changes in the future, and the retail industry will be the biggest beneficiary

The arrival of the 5G era not only brings development opportunities for short video live streaming, but will also bring about huge changes to the retail industry.

If you want to seize new business opportunities in this changing situation, you must understand these three core points.

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1

At present, most people associate 5G with the development of social media such as short videos and live streaming.

In fact, these are just appearances. The value that 5G actually contributes to the social field is less than 20%, and the remaining 80% of the value is mainly reflected in the industrial Internet.

Because, although 5G networks have increased their speed, at the social media level such as short videos, it can only change sales and marketing methods.

For example, using short videos to do content marketing, relying on live streaming to sell products, and using social media and communities to interact, all this changes is only the front-end sales problem.

So, in an era of overcapacity, changing the sales method only determines who sells and how much they sell.

The final result will only cause various industries to enter a state of polarization, which will only treat the symptoms but not the root cause.

Therefore, as far as the retail industry is concerned, do not regard 5G as a magic weapon for success.

2

If we want to fundamentally solve the difficulties in the retail industry in the future, we must not only use 5G technology to change sales methods, but also rely on technologies such as the Internet of Things, sensors, AR, VR, etc. to build smart shopping scenarios.

At the same time, we must rely on digital operations to open up the entire industrial chain and realize industrial Internet.

To achieve this goal, we must first build a three-dimensional sales scenario, use the advantages of short videos and live broadcasts online to attract traffic, marketing, and sales, and use physical stores to provide experience.

In the digital age, if you want to improve your performance, you need to channel online and offline public domain traffic into online applications, userize your customers, and obtain user information and data.

The purpose is to establish real-time connection with users, understand their needs, and carry out precise marketing and customized production based on their needs.

Secondly, in the era of the Internet of Everything, we can also rely on offline physical spaces (physical stores, experience stores, and consumers' homes), use the Internet of Things and sensors to obtain users' customized data, connect the retail end to the production end, and realize customized production.

For example, we are in the clothing business. When customers come to our store to experience consumption, they can use smart fitting mirrors, the Internet of Things and sensors to obtain the user's customization data, and then transmit the data to the factory for on-demand production.

When the factory production is completed, the location can be specified according to the user's requirements.

However, before that, retailers must cooperate to transform physical stores into factory stores, or reach a strategic cooperation alliance with factories to integrate retail and survival in a digital way.

With the integration of upstream and downstream, we can first meet the demand and then produce according to the demand, so as to solve the problems of overcapacity and homogeneity.

Of course, in the digital age, in addition to going to physical stores to experience and meet customization needs, consumers can also shop in virtual reality scenes at home using AR and VR devices.

Every user can use virtual reality devices to purchase goods according to their needs in the retailer's online application (online cloud store).

From the above content, it can be seen that whether it is consumption through short video live broadcasts, online shopping malls, customized consumption, or consumption in virtual reality scenes, these are all shopping scenarios.

If you want to rely on a three-dimensional sales scenario to meet users' shopping needs, you must strengthen the back-end construction and integrate into the entire ecosystem with a digital business model.

3

In the past, the retail industry only needed to have goods, channels, and customers to be successful.

In the future, if the retail industry wants to survive, it not only needs to have retail business logic, but also needs to integrate with upstream and downstream.

Because all industries in the future will be digital and ecological. The retail industry needs to rely on applications, cloud computing, the Internet of Things, and data platforms to digitize the entire business process.

Relying on data for procurement, production, marketing, and meeting consumers' shopping needs in multiple scenarios. In the digital age, all economic decisions and strategic layouts will change from being based on personal management by the boss to being based on data.

For example, you can analyze the sales quantity, price, and profit of a product based on the terminal sales data, and then make purchases or customized production based on the data analysis.

In the digital age, whether it is production, retail, or logistics, all need to rely on data as their business solutions. Therefore, the retail industry needs to seamlessly connect with the entire ecosystem based on digitalization in order to keep up with the development of the times.