On March 9, Tencent Cloud and Star Plus jointly announced industry-wide plans for the future of the Chinese smart retail ecosystem. Several leading Chinese retailers participated in the event, including Shandong Lingyun Group, Changsha Tongcheng Group, Nanning Department Store, Liquin Group, Xinjiang Friendship Group and several others.
The event was held to showcase plans to create a one-stop solution for the Chinese retail industry, introducing improvements to all areas of retail, including technology, commodities logistics, customs clearance, operations, and more.
According to Qui Yuepeng, Vice President of Tencent and CEO of Tencent Cloud, Tencent plans to play a leading role in the world of “smart retail” technology and practices, citing Tencent’s current prominence in connecting users, products, and services across its platform. Qui Yuepeng emphasizes that Tencent Cloud has always been a key player in the retail industry, and aims to continue this trend going into the future.
The CEO of Star Plus added that Star Plus considers itself a leader of the new global smart retail economy, and would like to continue promoting smart retail sales through the implementation of standardized and improved industry solutions.
The deal signed by Tencent Cloud, Star Plus, and the participating Chinese retail outlets, will see to the joint effort to implement standardized solutions across the retail experience. This includes standardized solutions to areas of e-commerce services, supermarket services, department store smart shopping, warehousing and logistics, retail payments, and more.
The ultimate goal of this agreement is to create a unified experience and a new type of innovative customer service system that will act as the benchmark for the future of the retail industry.
Since 2017, Tencent has quickly moved to strengthen its role in the retail industry. At Tencent’s global investors conference, Tencent proposed that their technology was leading up to a “decentralized” set of smart retail solutions. This smart store feature allowed retailers access to more efficient store management tools.
Tencent Cloud continues to improve its smart store solutions, bridging the gap between online and offline businesses. With advanced Big Data analytics and advanced AI integration, Tencent Cloud is gradually improving the Chinese retail industry, upgrading the overall experience for customers, distributors, and business owners.
These are just the latest steps in Tencent Cloud’s goal in building the future of the retail industry, whatever that might be. Leading Chinese retailers including Hefei Baida and Belle are working closely with Tencent to explore the possibilities of smart store innovations. With the latest deal, more leading regional retailers are set to join Tencent and cooperate to develop the future of the cloud-based smart retail ecosystem.