Korean cosmetics label Innisfree opens its first full New Retail store located in the Li Xing Shopping Plaza in Hangzhou, China. It is complete with a plethora of interactive digital experiences designed to make consumer shopping experiences much more appealing and seamless. New Retail is a type of business tactic created by Jack Ma by blending online and offline shopping experiences into a co-existing channel that makes matters easier for brands and consumers. This enables services such as buying through an app or through a physical location for consumers. Brands are able to gather data from the comprehensive actions taken by their customers.
These collective statistics will create data over time, which make business models easier to form and understand from a wider perspective. Some key features of New Retail include its Magic Mirror which uses AR technology to try makeup on digitally and the Smart Skin Analyzer that instantly analyzes the skin to recommend products accordingly. There are also vending machines accessed with QR codes, Smart shelves run on touchscreens, Cloud shelves to check availability across all locations, an interactive AR photo booth, and a Claw crane for customers to win samples.