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Some of the more interesting points of Ma’s presentation regarded his outlook for China’s consumer economy. He said that the current US-China trade war may prompt some production to move away from China and that tariffs were one of three major short-term problems that China will face: —in the coming years: it will do business with more countries in Africa, Southeast Asia and Europe, and China’s One Belt, One Road program of infrastructure development Low-income shoppers remain an opportunity for Alibaba, Ma said, noting that when people have little money to spend, they head to the company’s Taobao marketplace, which aggregates consumers selling to other consumers and small-business sellers.

CVS Health has broadened its range of health services in the US in recent years, expanding beyond retail pharmacies into the growing PBM business, large specialty and LTC pharmacy segments, and the health insurance market through the proposed acquisition of Aetna, the fourth-largest health insurance company in the US. In this environment, revenue growth for both CVS Health and WBA slowed in 2017, and much of WBA’s growth in recent years has stemmed primarily from acquisitions. CVS Health and WBA are still the two most well-known US pharmacies, together comprising more than 35% of both the prescription drug and health and beauty retail markets. To combat these challenges, both CVS Health and WBA are taking steps to modernize their businesses, including offering mobile apps and online prescription delivery services.

Historically, beauty brands have focused on women, but men’s grooming and beauty purchases are becoming a significant driver in China’s multibillion-dollar beauty industry. A 2016 survey of Chinese men’s attitudes toward grooming found that 39% of male respondents ages 20–30 said that they used skincare products or makeup, compared with 29% of male respondents ages 31–45, according to the Hong Kong Trade Development Council. The popularity of male beauty products is growing at above-market rates in China, fueling growth of the entire male grooming category. Global brands have taken note of Chinese men’s increasing interest in grooming products, and many are particularly targeting urban Chinese millennial men, who have growing disposable incomes and more favorable attitudes toward male beauty categories.

Thus, retailers are increasingly turning to tech companies for solutions that use artificial intelligence (AI), machine learning and the Internet of Things (IoT) to improve operational efficiency and the customer experience and to offer consumers more shopping channels. The partnership aims to open three new shopping channels for French consumers, the first through the AI-powered Google Assistant device, the second via Google Home smart-home technology and the third through the Google Shopping e-commerce platform. In addition, Carrefour plans to implement Google Cloud, the tech company’s cloud suite, and G Suite, its business productivity platform, in order to increase collaboration and enhance productivity. The Carrefour-Google partnership will enable Carrefour to offer shoppers new and more convenient ways to shop, which should boost conversion and encourage customer loyalty.