Tencent Tech, 3/22/18
Chinese internet conglomerate Tencent (0700.HK) recently established a "Smart Retail Strategic Cooperation Department" in an effort to boost innovation and integration of its enterprise-facing services, said Tencent VP Lin Jinghua at the 2018 Digital Retail Innovation Conference sponsored by the China Chain Store & Franchise Association. Tencent's business-facing services are an important part of its long-term strategy, and the new department will further provide partner businesses access to the users, platforms, big data technologies, product experiences, and ability to connect that Tencent has accumulated over many years.
Lin Jinghua said Tencent's smart retail will help retailers connect efficiently with users with the goal of helping retailers build a "new digital operations" system that can effectively connect with users, carry out precision marketing, and allow retailers to build their own digital assets. It will also bring users a "new consumer experience" with more seamless O2O integration and personalized recommendations. Tencent will mainly use its internet capabilities and business tools to integrate itself with retailers in the areas of users, data and technology, and O2O connectedness.