Chinese retail company Suning Commerce Group have seen sales figures surge during its annual shopping festival as result of its integration of new technologies, including virtual reality (VR), augmented reality (AR) and deep learning analysis.
The 8.18 Shopping Festival saw sales figures surge by 263% for online sales, with the new technology-led ‘Smart Retail’ system providing marketing insights that let companies and brands set position and pricing as well as adjust their sales strategies during the promotion period. The Smart Retail technology added value to online shopping by integrating VR, thus allowing customers to test products in the virtual environment before committing to purchase.
Zhang Jindong, chairman of Suning Holdings Group said, “As a leading retail company, we have always been devoted to making retail smarter not only to provide high-quality products, but also to better serve our consumers. This year, ‘Smart Retail’ has exerted its advantages in all aspects and brought great success to our shopping event.”
AR was also incorporated into sales and marketing strategies, with smartphone-powered AR experiences helping to promote products as part of the shopping festival.
Zhang said, “This is the future of retailing, the consumption habits and trend on the internet leads the products and services we are offering. When we are building our platform smarter and more consumer-friendly, we hope to see more global brands coming to cooperate with us.”
Suning Commerce’s future plans for the Smart Retail technology to launch its first intelligent self-service store later this year.
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