Beijing <b>retail</b> veteran says market still strong for 'fresh' shopping experiences | RetailTechPodcast

Beijing retail veteran says market still strong for 'fresh' shopping experiences

As China's internet titans continue talking up the concept of "New retail", which promises to transform the country's shopping landscape using cutting-edge digital technology, it is easy to see why many think big data now holds the key to understanding and grasping the country's consumer spending patterns. Oliver KH Lai, a 30-year retailing veteran and the general manager of Beijing shopping-office-hotel complex Parkview Green FangCaoDi, is one traditionalist who believes in an older-school approach to the sector. Lai says his team has helped "Refresh" around 10 out of the site's existing 100 retail tenants this year, every time to highlight "Experiences" that customers are unlikely to get online. Despite the runaway success of e-commerce, more than 600 shopping centres offering retail space larger than 100,000 square metres in size are still operating in China. Are shoppers helping China spend its way out of US trade war trouble? Retail sales data says no. Tin Sun, head of research with CBRE Northern China, says despite the runaway success of e-commerce, such retail spaces - normally larger than 100,000 square metres in size, that cater for specific people's demands - are growing in popularity too. "Despite the runaway success of e-commerce, more than 600 shopping centres offering retail space larger than 100,000 square metres in size are still operating in China," said Sun. Read more