Alibaba ‘New Retail’ Strategy = Digitizing Various Offline Retail Verticals Freshippo / Hema Sun Art Suning JV Intime 135+ 470 Supermarkets Consumer Fashion & Grocery Stores Digitized Electronics Department Stores Easy Home Eleme & Koubei Tmall Store LingShouTong Home On-demand Delivery for Rural 1MM+ Mom-&-Pop Improvement 2,100+ Starbucks Stores Omni-Channel Stores Stores Digitized Source: Company Materials Internet Trends 325 2019