Meaning:

“新” means “new,” and “零售” means “retail.” “New retail,” a popular term in the Chinese society in recent years, indicates a combination of the best in physical and online retail. The latter leverage their troves of consumer data in order to integrate offline stores, merchandise, logistics and payment tools to deliver a better overall shopping experience. Typical examples include Hema Supermarket opened by Alibaba Group, where people pay at self-help terminals with their smartphones in the shop and can also order delivery service to their homes by shopping online.

Example:

A: 这两年新零售特别火。

Zhè liǎngnián xīnlíngshòu tèbié huǒ。

The new retail concept is very popular these two years.

B: 其实它的本质还是零售，只是更高效而已。

Qíshí tā de běnzhì háishì língshòu，zhǐshì gèng gāoxiào éryǐ。

The core of this concept is still the retail business, only it aims at higher efficiency.