The 2025 HBR Management Annual Conference and New Growth Summit was held on October 31. Zhang Wenzhong, founder of Beijing Wumart Group and DMALL, emphasized in his speech that retail is a high-tech industry.
He reviewed the evolution of the retail sector, noting that while retail existed before the era of large-scale computing, true technological empowerment began with Walmart—which once operated the second-largest computing center after NASA and built an efficient supply chain network via satellite systems.
In the digital era, the rise of e-commerce and the wave of online-to-offline (O2O) integration further propelled retail technology upgrades. Zhang cited his own experience as an example: DMALL, which he co-founded and is now listed in Hong Kong, provides end-to-end digital operating systems (OS) for 700 global retailers, successfully replacing traditional ERP systems and becoming a key enabler of digital transformation in retail.
Zhang stated that the era of "AI + retail" has officially arrived, emphasizing that AI and retail are not a "chicken-or-egg" dilemma but rather a symbiotic relationship. He highlighted that digital technologies empower retailers to stay closer to consumers while delaying the "diseconomies of scale" inflection point, enabling sustainable growth.
Zhang also stressed that "people-centricity" is the foundation of AI-driven retail, with the "Five Loves" philosophy serving as its practical implementation. The "Five Loves" principle requires retail professionals to uphold product integrity—ensuring the same standards for goods they, their families, and customers consume. Additionally, he emphasized that companies must genuinely care for employees and customers to earn their trust.
When outlining the core value of AI-powered "new retail," Zhang detailed six transformative revolutions across categories, scenarios, public image, business models, food safety, and corporate culture:
1. **Category Revolution**: AI enables efficient category planning. Previously reliant on consulting firms and six-month-long research reports, retailers can now leverage AI for rapid data analysis and SKU-level insights, precisely meeting consumers' high-quality and diverse demands.
2. **Scenario Revolution**: Creating compelling reasons for in-store visits. By offering ready-to-eat, ready-to-drink, and ready-to-cook products, renovated stores can increase foot traffic by 100%–150%, revitalizing offline consumption.
3. **Public Image Revolution**: Free convenience services like blood pressure checks, rest areas, complimentary tissues, and post-shopping handwashing stations have earned AI-powered stores widespread praise, driving consumers back to physical stores.
4. **Business Model Revolution**: Moving beyond promotion-dependent strategies. For example, Wumart now uses AI for product selection, replenishment, display, temperature control, clearance, and customer service, delivering faster and more satisfying experiences.
5. **Food Safety Revolution**: Strengthening industry standards. Every AI-powered store features an in-house food testing lab, ensuring daily clearance of perishables and baked goods under AI guidance to guarantee safety and quality.
6. **Corporate Culture Revolution**: Reinforcing a "people-first" ethos. Through dozens of culture co-creation sessions, companies place humans—not AI—at the ecosystem's core, aligning with themes of "confidence, conviction, and trust."
Zhang concluded by underscoring that in the AI era, "people remain the heart of the ecosystem," including both customer-facing employees and suppliers. AI will play a vital role in balancing sales and inventory, capturing real consumer needs, and optimizing energy systems for sustainability.