“The development of retail in the future is closely related with the understanding of consumers, commodities and stores.”
——Zhang Li, currently vice general manager of Hanshow
As a comprehensive, professional and influential platform for China’s retail industry, CHINASHOP has brought cutting-edge technologies and new solutions to China’s retail industry for 20 consecutive years since being established in 1999. On November 1-3, 2018, CHINASHOP will be held in the Kunming Dianchi Lake International Convention and Exhibition Centre in Kunming, Yunnan. In the 20th anniversary of CHINASHOP, the launch of the [Interview CHINASHOP 20th anniversary], an exclusive interview with leading enterprises and rising enterprises and persons is launched to display the progress of China’s retail industry in past 20 years.
In today’s interview, the interviewee is Zhang Li, currently vice general manager of Hanshow. As a pioneer in the ESL, Hanshow has a market share of over 95% in China and has extended its business to over 30 countries.
Nowadays, the new retail companies such as Alibaba’s HeMaXianSheng, JINGDONG’s 7FRESH, Meituan’s XiaoXiangShengXian and the traditional retail giants such as WuMart, Auchan, YongHui, etc. are replacing the paper price labels with ESLs.
- CHINASHOP: What are additional functions of ESLs?
The ESL is only the terminal price display screen first and then becomes the port of information and data for online and offline commodities as the new retail develops. Hanshow’s ESLs improve the operation efficiency and provide smart marketing services. Hanshow’s ESL is a dynamic display screen, which is equivalent to the SKU (single-commodity) intelligent hardware and corresponds to each commodity. Hanshow’s ESL can display the unique dynamic QR code of the single commodity. The consumer can scan the QR code to obtain the commodity information, trace the commodity and check the promotion, and even put the product to the shopping cart and pay online.
By combining big data with intelligent algorithms, consumers can scan the QR code to get information or a push promotion, realizing “different ESLS for different consumers”. Another function is the smart map based on ESLs. The ESL is used to locate the commodities on the shelf and in the store and achieve the navigation inside the store, which provides more convenience than manual navigation.
- The expansion of the new retail will provide an opportunity for growth of China’s ESL market?
It can be said that the new retail has promoted the transformation of China’s retail industry. In this process, the offline retail is constantly renovated by informatization, IT, digitization and AI. Connecting online and offline data is inevitable in the development of new retail. As an intelligent interaction terminal, the ESL becomes a hardware both collecting and producing data. When consumers scan the QR code to purchase the commodity or other auxiliary hardware such as cameras take pictures of consumers, ESLs will continuously acquire data, and then data are analyzed and the analysis results are submitted to the store or the background operations for the next decision, forming an operational closed loop.
In five to ten years, the ESL will flourish. Rents and labor costs are increasing. However, the operation efficiency is not improved. Thus, improving the operation efficiency needs auxiliary equipment and the application of technology, and it is inevitable.
- CHINASHOP: Does Hanshow expand other business beside ESLs?
As the retail market is transformed rapidly, Hanshow is expanding into new fields. Hanshow focuses on intelligent hardware and solutions and built Hanshow’s smart retail store management system to connect various retail application scenarios.
Now, Hanshow is accelerating the progress of the ESL and its solution and the smart store management system. Hanshow provides smart marketing, smart cashier, smart picking, smart exhibition, smart map, etc, helps realize application scenarios of digitization, and creates new retail smart stores.
- CHINASHOP: What is your opinion on the future development of retail?
I think that the development of retail in the future is closely related with understanding of consumers, commodities and stores. There are also three factors that cannot be ignored. First, the era of the Internet of Things has come. The premise of the digitization in stores is the Internet of Everything. After all processes and steps are digitized, data could be submitted for subsequent analysis and application. Second, combine ESLs with AI to achieve different ESLs for different stores and consumers. Third, big data. Big data resulted from integrating a large number of consumption data, weather data and holiday data provide the core competence for the retail industry.
On the other hand, Hanshow (Booth No.: 11002) will attend CHINASHOP 2018 and exhibit a new generation of ESL products and overall solutions for the smart store.
(Source: CCFA News )