MINISO Works a Global Retail Miracle

2016-03-28 08:15 2617

TOKYO, March 28, 2016 /PRNewswire/ -- In 2015, the most popular retail store, Miniso, which was jointly established in Tokyo by Japanese designer Miyake Jyunya and Chinese young entrepreneur Ye Guofu in 2013, has opened more than 1,400 stores all over the word in only two years. In 2015 with the sales revenue over RMB5 billion, Miniso has had explosive growth and expansion. In 2016, Miniso will keep growing rapidly, aiming at sales of RMB10 billion. The case of Miniso is rarely seen in the world these years.

Miniso's Growth

As an advocator in the field of consumption of superior fashionable and casual products, Miniso has been adopting the brand philosophy of "high quality, low price and full of texture." This philosophy is used to design the best products for consumers. Product prices in Miniso stores are priced from 10 yuan to 29 yuan, specific to a wide range of target consumers. Miniso stores are very popular, boosting traffic to other stores.

It is known that, the expansion speed of Miniso was the highest worldwide in 2015.

Miniso's ultimate weapon is the 'four goods'

Miniso first focused on store design and decoration to attract consumers' attention, then demonstrated superior service, thus allowing consumers to pick and experience low-price but high-quality products with ease and pleasure. Decoration, service, high quality and low price are linked together and indivisible, they are called 'four goods' by Miniso.

Miniso would not have flourished and continued to expand without any one of the four elements.

Miniso raised consumer expectations, addressed the needs of consumers, carried products that brought happiness to their clients and provided the best shopping experience.

Under the background of  a depressed retail industry, Miniso persisted to perfect itself and improve product quality. This is the secret making Miniso not "cold" but "hot" in adverse situations.

Source: MINISO
Keywords: Fashion Retail Textiles