Future of <b>retail</b> may see consumers dealing directly with manufacturers, predicts CEO of Intime | RetailTechPodcast

Future of retail may see consumers dealing directly with manufacturers, predicts CEO of Intime

In the future for retail, power will shift from seller to buyer, retailer to manufacturer, CEO to a staff in store, predicts Intime CEO Chen Xiaodong. If one CEO's outlook holds up, offline retailers may have a very limited future. The consumer will deal directly with a manufacturer, potentially leaving out retailers, predicts Chen Xiaodong, CEO of Intime, an e-commerce platform run by Alibaba. "Before, the controlling rights belonged to the retailer, but in the future it will shift to the manufacturer," Chen told CNBC's Arjun Kharpal. A department store or a shopping mall will become a warehouse in the future, Chen said. Alibaba owns a majority stake in Intime, which operates 62 stores and shopping malls across 33 cities in China. Shoppers who use InTime's app order their products online and receive them within hours from the closest store in the vicinity. Read more