China: Auchan withdraws in favour of Alibaba, champion of New Retail
Within 10 years, previously unknown retailers are the international giants. Alibaba, Tencent, JD.com and Suning impose their New Retail model, based on technology, accurate logistics, customer information, mobile applications and a totally omnichannel ecosystem, integrating fun and entertainment.
This is a pivotal point within the Covid-19 crisis. International expansion for Western retailers has been superseded by focus on a return to profitability, via massive investment in technology and digital services. With a sale of remaining shares in Sun Art (484 stores) to Alibaba, the French group Auchan (turnover of €45.8 billion in 2019, 2,293 stores in 14 countries) demonstrated the dominance of this evolution.