Sina Technology News reported on the afternoon of November 14 that the 2019 “Watch China” Thought Forum, jointly organized by Peking University's Guanghua School of Management and Ali Research Institute, was held today. The theme of this forum was “New Consumption, New Supply and Demand, and New Manufacturing”.AlibabaGroup Vice President Jing Jie delivered a keynote speech on “Return to Business Essence and Restructure Growth Power”. He said that behind the transaction volume of 268.4 billion yuan during the Tmall Shuang11 period is actually data transmission and technology accumulation. It is the empowerment and upgrade of Alibaba's commercial operating system. “Everything unimaginable will eventually become normal.”
According to Jing Jie, every year's Double 11 is a “devil's training” for any Alibaba business infrastructure, and technological breakthroughs are reflected in every aspect of infrastructure. “Last year's Double 11, a large number of companies embraced new retail through digitalization, essentially breaking the boundaries between online and offline.” This year, as an example, Red Star Macalline and Easyhome achieved a marked increase in the retail scale of large-scale home improvement through digital store sales.
Jing Jie believes that this year's Double 11 is an upgrade of Alibaba's product business capabilities, driving business growth through consumer segmentation, product differentiation, and consumer operation innovation. He also mentioned that Koala officially joined Alibaba this year, and a steady stream of global brands have entered the Chinese market, giving consumers more choices. “Don't think that what Double 11 sells is a bargain. Today's Double 11 has become a scene where new products and brands are exploding. Among them are global brands that everyone is familiar with, brands that have grown digitally from Taobao and Tmall, as well as brands that have redefined products. For them, Double 11 is not just a sales opportunity, but a huge window, and a key point affecting sales.”
In addition to online and offline integration based on retail logic, more consumption methods and methods based on mobile Internet are also occurring within Alibaba's digital economy. Creating demand is very important. How to prepare for different products for different groups of people so that consumers can consume whatever they want and receive products without worry is also a problem that needs to be solved. Jing Jie said that Alibaba's one-stop logistics service has digitally empowered the domestic logistics network and fulfilled the global logistics network, while the large closed loop of integrated financial services has stimulated consumption while empowering merchants.
“Whether it's in terms of logistics or finance, it's all based on Alibaba's commercial operating system, based on these infrastructures.” Jing Jie said that under Alibaba's business ecosystem and Alibaba Cloud intelligence ecosystem, Alibaba's business operating system uses digital infrastructure and digital technology to help enterprises achieve digital transformation. Under the consumer operation system, it is supported by logistics, supply chain management, financial services, etc., and the underlying layer is collaboration between cloud intelligence and digital infrastructure. “Because of digitalization, we can make management more scientific, and we can also make growth more intense.” Jing Jie said. (He Chang)