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June 24, 2015

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Retailers need to invest in online tech

CHINESE retailers need to invest in mobile and social media in order to offer consumers “a convenient retail experience,” Oracle, the world’s biggest enterprise software vendor, said in an industry report yesterday.

More than 95 percent of Chinese consumers said they hoped retailers will invest in digital stores, improving consumer experience and logistics services, Oracle found in a recent survey, Retail Without Limits — A modern commercial society.

The survey covered 5,000 adult consumers globally, including 500 from China. The survey found that 81 percent hope for more investment in mobile-related technologies and 42 percent chose social media.

“Chinese shoppers are challenging retailers to invest in technology that meets their requirements for a convenient retail experience,” said Jill Puleri, senior vice president and general manager of Oracle Retail.

“It will ultimately inspire loyalty and spending in this highly competitive market.”

Internet giants like Alibaba, Tencent and have boosted the popularity of some mobile technologies in China such as the widely used mobile payment and online coupons.

Dianping is China’s largest website for users to seek location-based food and entertainment services similar to Yelp and Groupon in the United States.

Over 49 percent of Chinese consumers like online shopping, compared with 34 percent globally, according to Oracle.


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