Alibaba paid about $6 billion to take control of China’s top supermarket chain and one of its biggest department-store franchises.
A Guangzhou-based startup called BingoBox has built a network of 300 fully automated convenience stores. The free-standing glass boxes, about half the size of a 7-Eleven, stock a similar assortment of merchandise, all of it labeled with RFID tags. Shoppers gain access by scanning a QR code displayed on the front of the store with the WeChat app.
BingoBox started in 2016 and has raised about $100 million from investors led by GGV Capital and Fosun Capital.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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