Social new retailing business model and its applicable regulatory pattern

• Main Author: WANG, Rui
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: Social New Retailing; Welfare of Practitioners; Employment; Regulation; Business Administration, Management, and Operations; Operations and Supply Chain Management
• Online Access: https://ink.library.smu.edu.sg/etd_coll/398; https://ink.library.smu.edu.sg/context/etd_coll/article/1396/viewcontent/SNS_Dissertation_final.pdf
• Institution: Singapore Management University

With the booming development of mobile Internet in China, social platforms have unlocked new channels for commodity supply chain and retailing and promoted business model innovation. Online social networking has fundamentally changed the way the entire society communicates. Social networking is no longer constrained by space, social platforms have become a stage for many ordinary people to showcase themselves, and the popularity of mobile payment has made mobile phones the wallets of Chinese residents as well. The innovative contents and interaction styles delivered by social software have triggered a qualitative change in the efficiency of everyone's communication and interaction, making it the main portal of traffic, opening up China's immense markets in lower-tier cities and enabling the evolution from retail business model toward online socialization. Relying on China's efficient supply chain system, the communication capability of social platforms has been commercialized, thus facilitating the development of social new retailing business model. Social new retailing business model is the object of this research. This paper is structured as follows: Firstly, through theoretical analysis and case analysis, this paper defines social new retail as a new retail business model that realizes diversified and multi-level sales of goods or services through the matrix communication method of social platforms and the innovative application of multi-level direct sales. Secondly, the role of social new retailing in improving the welfare of practitioners is investigated through questionnaire survey and empirical analysis. The results indicate that the extremely low barrier to entry has created employment opportunities for more people with low academic qualification and low income, and that it is beneficial for improving the skills of practitioners, etc. Thirdly, this study focuses on the regulatory pattern applicable to social new retailing. We've found through case analysis, questionnaire, and interviews with social new retailing business owners, legal experts and regulatory experts that the current applicable Chinese regulations are lagging so behind that they are impeding the innovative development of social new retailing business model, which must be adjusted in various aspects, such as legislation and regulatory procedures. Fourthly, corresponding policy recommendations are proposed for the regulators based on the findings of this paper, including revising current regulations and specifying regulatory responsibilities and procedures.