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Analysis of Fresh Food Industry Companies under the New Retail Model: Taking Hema Xiansheng as An Example

In: Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

Author

Listed:
  • Haoyang Wang

    (Menaul School)

Abstract

With the advancement of Internet technology, the application of mobile payment and the development of logistics technology, as well as the changes in people's consumption preferences, the regular and fixed-point sales model of the traditional retail industry has been unable to meet the needs of consumers. In addition, for consumers, the invisible and intangible purchase method of e-commerce, which relies only on experience and luck, and the method of choosing products based on the integrity of the seller and the reviews of buyers, can no longer meet the needs of people in the modern era for shopping. Therefore, a new retail model that combines online and offline forms emerge as the times require. The fresh food sector is used as an example in this study to assess the growth of the new retail model and to present recommendations for how the fresh food industry should expand in conjunction with the new retail model. This paper takes ‘Hema Xiansheng’ as an example to analyze its existing strength, weakness, opportunities and threats through SWOT analysis, and then makes relevant suggestions. It can be concluded that the change in the retail business model has led to numerous changes in the business model of the fresh food industry. The fresh food industry keeps up with the pace of the retail model changes, and gradually forms a new retail model for the fresh food industry, striving to provide consumers with the most cost-effective, convenient and high-quality services, such as JD Daojia from JD.com and Super Species from Yonghui.

Suggested Citation

  • Haoyang Wang, 2023. "Analysis of Fresh Food Industry Companies under the New Retail Model: Taking Hema Xiansheng as An Example," Advances in Economics, Business and Management Research, in: Hrushikesh Mallick & Gaikar Vilas B. & Ong Tze San (ed.), Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022), pages 1827-1837, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-098-5_205
    DOI: 10.2991/978-94-6463-098-5_205
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