(Yicai Global) Feb. 5 -- After buying into supermarket chain operators including a subsidiary of Yonghui Superstores [SHA:601933] and Carrefour China, internet giant Tencent Holdings Ltd. is to team up with another supermarket operator Better Life Commercial Chain Share Co. to further develop smart retail. It is also yet another step by tech titans stepping into retail world under innovative models.

Better Life Commercial Chain has signed a strategic cooperation framework agreement with Shenzhen Tencent Computer System Co. on Feb. 1, said the Hunan-headquartered supermarket chain operator in a statement.

Both parties aim to offer customers more valuable integrated online-offline services and customer experience. Through cooperation, Better Life Commercial Chain will explore potential in social media and consumer scenarios combining Tencent's online social media platforms and its own offline consumer scenarios.

Better Life Commercial will also conduct online operations in customer services and stock control, taking advantage of Tencent's technological strength. It will develop a system based on data and algorithms, said the statement. Better Life Commercial runs more than 500 stores across China, serving around 3 million consumers each day, shows publicly available information.