The Xiaomi group from China, while known for selling good quality devices in an affordable manner, they are also known for not having a physical store and relies on online sales especially their annual flash sales every year. It is not known if because of that, that's why Xiaomi is no longer in the top 5 spot for manufacturing phones last quarter, as OPPO and Vivo made their way into the ranks in China.
It's not only on a strong reliance on online sales, but Xiaomi sometimes has supply issues, such as the Mi Band 2 stock production, for example, was much delayed a few times. To tackle this issue, Xiaomi has decided to set up multiple physical stores in major cities around China to strengthen their position. According to CEO Lei Jun, the company is planning to build over 1000 physical stores in the next couple of years. The physical store will be 250 square meters large and expected to make monthly sales of 50 million Yuan based on a sales analysis of 1.43 million Yuan sales average made in a physical store. CEO Lei Jun further stated that the Xiaomi stores won't be just selling smartphones which they are known for, but other types of products as well, such as TVs, drones, air purifiers, rice cooker, bluetooth speakers, smart scooters, smart bikes and many more to come.
Sounds pretty great, let's hope Xiaomi is also planning to expand their physical stores on Malaysia shores too in the near future.
[Source]
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