Artificial intelligence drives changes in the retail industry

With the rapid development of artificial intelligence, the retail industry may usher in the fifth revolution.

In recent years, Internet giants such as Alibaba and JD.com have deployed the retail industry and accelerated the pace of new retail and new models entering the market, which is expected to reshuffle the competitive landscape of the retail industry.

The modern retail industry has undergone four changes, from department stores, chain models, supermarkets to online shopping. After the 1850s, with the completion of the two industrial revolutions, the original small workshop model could not meet the shopping needs brought about by the increase in the income level of residents, and a department store with centralized management and sales was born.

In the early days after the industrial revolution, problems such as uneven quality of goods and poor transmission of price information gradually emerged. In 1859, chain stores began to emerge. The chain model relied on centralized procurement to obtain strong upstream bargaining power, and realized large-scale operation with the help of unified management.

In 1930, supermarkets began to appear. It breaks the pain points of low traditional retail efficiency and poor shopping experience. Supermarkets provide modern cash registers, commodity classification systems, and sales methods. It improves the customer's shopping experience and the choice of products, which is very popular with customers.

In 1990, with the development of the Internet and logistics, online shopping gradually rose. The online shopping model breaks the time and space limitations of the traditional retail industry, providing convenience while reducing classification and reducing costs.

New retail is expected to lead the fifth retail industry transformation, and artificial intelligence will inject new impetus into the industry transformation.

Relying on the Internet, new retail uses big data, artificial intelligence and other technical means to upgrade the production, circulation and sales process of goods, and deeply integrate online services, offline experience, and modern logistics. Artificial intelligence will play a vital role in improving the efficiency of new retail.