Measures released to boost instant retail development

Shenzhen’s commerce bureau recently unveiled the "Action Plan for Promoting the High-Quality Development of Instant Retail in Shenzhen (2024-2026)," aimed at nurturing and introducing high-quality instant retail enterprises, supporting innovative business models, innovating instant retail consumption scenes, and optimizing professional talent supply. 

Visitors pack a shopping mall in Futian District. Photo from Shenzhen Special Zone Daily

The plan sets forth three key objectives: enhancing the scale of instant retail formats, bolstering public services for instant retail, and fortifying talent cultivation in the instant retail sector.

The plan aims to, by 2026, foster a dynamic retail landscape with over 40,000 online retail merchants, fostering more than five e-commerce platforms each generating annual instant retail sales surpassing 5 billion yuan (US$ 686.4 million), and establishing over 30 brands yielding annual instant retail sales exceeding 100 million yuan, culminating in a total annual instant retail sales exceeding 40 billion yuan.

In terms of public services, Shenzhen will construct over 500 instant retail front warehouses, ensuring smart parcel lockers and take-out lockers are available in large commercial complexes, residential communities, office buildings, hotels, hospitals, university campuses, and major parks.

To boost talent cultivation, the plan aims to set Shenzhen local standards for instant retail practitioners and establish innovative training modules for instant retail talent development.

The initiative also focuses on fostering the growth of high-quality instant retail enterprises and enabling diverse entities to participate in instant retail activities. It supports the development of innovative business models to expedite the creation of an efficient supply chain network. Additionally, it encourages supply chain enterprises and integrated express logistics service companies to explore third-party professional front warehouse services, facilitating the integration of online and offline supply chains to develop high-quality supply chain networks with instant retail enterprises in conjunction with traditional trade and distribution firms, and manufacturing enterprises.

Enterprises are urged to explore high-value instant retail consumption scenes. This includes promoting new spending scenarios like nighttime economy and advancing the integration of instant retail with short videos and live streaming e-commerce to enhance instant shopping experiences.