Omni-channel strategy vital for retailers in China
Companies need to be able to meet online and offline requirements
An omni-channel strategy is the solution for global retailers facing the rising threat of fast-growing online shopping sales in China, according to Robert Welanetz, the chairman of the International Council of Shopping Centres.
Retailers could take advantage of online shopping to build up a loyal customer base, Welanetz said.
"[Online shopping] is going to be a substantial part of total retail sales in the market," he said. "But I believe that the relationship of omni-retail, where you have a brand that has stores and also does a vibrant internet business is going to be very positive.
"If the retailers are omni-channel, that is they can move online and into bricks and mortar, then theoretically the health of a shopping centre that consists of multi-channel retailers is going to do better."
China overtook the United States last year as the world's largest online retail market, with sales of 1.85 trillion yuan (HK$2.33 trillion), commerce ministry data shows.
E-commerce giant Alibaba said it racked up US$9.3 billion in sales in its Singles' Day discount event on November 11. Singles' Day is expected to be bigger than the three big shopping events in the US of Thanksgiving Day, Black Friday and Cyber Monday, which were expected to post US$6.38 billion in combined online sales this year.