Over the past eight years, we continue to ask ourselves one question: “what has remained constant in the evolving world of business?”
Xiaomi’s answer is this: users have always expected amazing products at honest pricing. Over the past few years, we’ve created devices at accessible prices through our highly efficient online channels. But, we wanted to take on a new challenge of revolutionizing offline stores given their low efficiency, which adds unnecessary costs to products.
Since 2015, we set to revolutionize offline retail through our new retail model – a term that indicates a combination of the best in online and offline retail practices. We have significantly expanded our direct offline retail network, through our self-operated Mi Home Stores. Our direct offline retail capability allows us to broaden our reach and provides a better user experience, while maintaining similar efficiency and the same price point as our online channels.
The long lines at the opening of each new Xiaomi brick-and-mortar store across the world has become a recurring phenomenon and a testament to our new retail model. Our largest flagship Mi Home Store in Shenzhen that opened on 27 September 2017 marks another milestone for our new retail dream.
“It has become a tourist destination in Shenzhen these days,” said store manager Liang Chao. He was standing at the entrance of the beautifully designed 650 sq m, two-floor store, where several customers were trying Mi Electric Scooters, one of our bestselling products.