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New Retail Briefing #4: Expands to Department Stores, Alipay Available at Walgreens

Executive Summary

“New Retail” is a model for integrating online retail, offline retail and logistics across a single value chain powered by data and technology. In this biweekly series, we cover important developments in New Retail in China and beyond. Here’s what’s happening:

  • acquired all 37 department stores of leading Chinese property developer Wanda Group and will convert the stores to smart retail formats.
  • Alibaba’s digital payment solution Alipay can now be used at US pharmacy chain Walgreens stores, making it easier for people visiting from China to shop there.
  • Alibaba acquired an 8% stake in Bilibili, a Chinese online video platform targeting young people.

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