The 2023 Forbes China list of top 50 enterprises for new retail potential was recently released. Six enterprises from Hunan Province made the list, namely, Saturnbird Coffee, Chayan Yuese (milk tea), Lingshi Henmang (a snack shop chain), Hey Hey Black (smelly tofu), Wenheyou, and Zhang Xin Fa. 

Changsha's new retail industry has shown significant momentum in its prosperous development. On February 26, the Hunan New Retail Industry Council announced that the 2024 Forbes China New Retail Summit Forum is expected to be held in May in Changsha, where winners of the Forbes China New Retail Selection will be awarded.

Since the concept of new retail emerged in 2016, Changsha's retail enterprises have steadily adapted to economic changes through innovation and business optimization, and have continued to meet consumers' diversified consumption needs.

The 2023 Forbes China New Retail Selection was initiated by Forbes China and the Hunan New Retail Industry Council. The selection focuses on assessing enterprises from the key perspectives of capabilities of business growth, market competitiveness, brand influence, digital innovation, and capital attention and exploring high-quality enterprises that are leaders in the sustainable development of industry and that create new value for consumers under new retail models, with a view to gathering strength and empowering domestic business towards a more sustainable future.

Translator: Kuang Zhenzhen

Chinese source: Changsha Evening News