China aims to revive physical stores, make them ‘immersive’, as shield against e-commerce

With retail sales growth cooling in May to the slowest pace since December 2022 and persistent weakness in big-ticket items extending through last month, Beijing has stepped in to reinvigorate bricks-and-mortar operators facing intense price competition from e-commerce platforms. The Ministry of Commerce, together with eight other relevant authorities, on Thursday released guidelines to accelerate the innovative development of the retail sector. The document charts out a path for differentiated...