(Yicai Global) Jan. 26 -- With artificial intelligence applications in the retail industry, China's convenience stores have great market potential and will usher in a golden era, per a report the China General Chamber of Commerce released today.

Smart retailing services with AI advanced quickly last year, and more plans for the efficient operation of unstaffed convenience stores will surface in the next three to five years, the report said.

The Chinese gross domestic product's growth rate will remain around 6.7 percent, while retail sales of consumer goods will increase by 10.1 percent, CGCC said. The effects of rising household consumption will expand further, and such consumption will be a major contributor to China's economic growth, the report said.

Spending on tourism, sports, culture, entertainment, wellness and pensions will grow rapidly this year, and the retailing and catering sectors will develop steadily while integrating with the aforementioned fields, CGCC Vice Chairman Fu Longcheng said.

Tencent Holdings Ltd., Amazon.com Inc. and Alibaba Group Holding Ltd. have unveiled stores that signaled where the unmanned retail sector is heading, and large internet companies are poised to dominate the competition.