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Pay by app at new Hangzhou department store
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IT’s kind of like any other department store, except the cashier’s stands to check out are missing.
The Shopin store in Hangzhou that opened today also has a WeChat logo on the front along with the story logo.
That’s because it’s a demonstration store created through a partnership of Tencent’s popular smartphone messenger application WeChat and Beijing Shopin Retail Development Co Ltd. The new store in Hangzhou’s eastern suburbs showcases WeChat’s payment service.
Consumers can scan the QR code on each product and pay for them through WeChat’s payment service, saving them the trouble of waiting in a queue at the cashier.
“We hope to better connect with consumers and make transactions easier through the convenient service provided by WeChat,” said Shen Huifeng, executive director at Shopin Retail. The store has clothes and accessories.
Shopin Retail has eight outlets in Beijing. The Hangzhou store is the first one outside of Beijing, and it’s more like an experimental outlet, though you can actually buy things there.
Consumers who have placed orders at Shopin Retail’s website can also pick up their merchandise at the outlet in Hangzhou or have it delivered to their doorstep.
Shopin Retail will manage its inventory through one unified system. Merchandise at its online shopping site and its offline outlets will have the same price.
Internet companies are extending their presence to the offline sector to fuel growth, and Alibaba and Tencent are rushing to promote their mobile payment service to grab market share.
China’s largest e-commerce company Alibaba said earlier this month it will spend HK$5.37 billion (US$692 million) for 9.9 percent of Hong Kong-listed Intime Retail (Group) Co and US$478 million of its convertible bonds. When they are converted into shares in three years they will boost Alibaba’s stake in the retailer to more than 25 percent.
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