Investment Rating - The report does not explicitly provide an investment rating for the smart retail industry Core Insights - The smart retail industry is characterized by the integration of AI, big data, and IoT technologies to enhance consumer experience and operational efficiency, shifting from a product-centric to a consumer-centric model [12][13][27] - The future development trends of smart retail include internal system integration, instant delivery services, personalized recommendations, and catering to the aging population [6][18] Summary by Sections Research Purpose & Summary - The report aims to systematically outline the practical paths, development history, policy environment, application scenarios, and future trends of smart retail [2] Smart Retail Practice Path - The core principle of smart retail is to utilize emerging technologies to gain insights into consumer habits, predict consumption trends, and guide production, focusing on demand forecasting and store analysis [4][15] - Key applications include smart stores and instant retail, which aim to optimize supply chains and enhance consumer experiences through data integration [4][6] Smart Retail Industry Overview - Smart retail is defined as the reconstruction of the retail industry through AI, big data, and IoT, focusing on consumer experience rather than just products [12][13] - The evolution of China's retail industry has progressed through traditional retail, e-commerce, new retail, and now smart retail, with significant technological integration [18][19] Policy Environment - Since 2020, the government has introduced various policies to encourage the smart transformation of retail facilities and the application of technological achievements in consumer sectors, aiming to establish a modern retail system by 2029 [21] Application of Smart Retail - Smart stores serve as the core carriers of smart retail, utilizing technologies like facial recognition and AI to enhance customer interaction and operational efficiency [25][27] - Instant retail, as a significant branch of smart retail, leverages technology and local supply to provide rapid delivery services, with a strong growth trend in lower-tier markets [28][32] Industry Application by Sector - The report highlights various sectors such as supermarkets and restaurants, emphasizing the need for data-driven consumer insights and the integration of online and offline channels to enhance customer engagement and operational efficiency [34][35]

Core Insights - The digital economy is becoming a new driving force for economic and social development, with smart retail expected to exceed 1 trillion RMB by 2025 due to various factors including policy support and technological innovation [1][5] - Heng Life, a smart retail service platform, recently held its 2025 National Agent Conference, marking a significant milestone in its development and providing insights into the future direction of the smart retail industry [1][8] Industry Overview - Smart retail has transitioned from a trend to reality, with advancements such as intelligent cabinets and facial recognition payment systems [2] - The Chinese government is actively promoting digital economy and new consumption models, with policies supporting the digital transformation of retail [2] Company Strategy - Heng Life has expanded its services to over 340 cities, offering around 500 different service scenarios and serving 2 billion people since its establishment in 2020 [2][3] - The company utilizes a "IoT + Internet + Smart Life" model, focusing on optimizing product and service experiences while exploring future interactive fields [5][6] Product and Market Development - Heng Life's product line includes smart retail terminals, entertainment devices, and electric vehicle charging stations, aligning with national strategies for new energy and green travel [3][5] - The company is actively developing innovative payment solutions and collaborating with popular IPs to cater to younger consumers [6] Ecosystem and Collaboration - Heng Life emphasizes building a strong, open, and collaborative ecosystem as a core business philosophy, investing over tens of millions annually in R&D to support its agents [7] - The company is fostering cross-industry collaborations to enhance operational efficiency and improve user experience [7][8]