Xiaomi Lu Weibing: Xiaomi offline stores still have a lot of room to improve efficiency

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On the afternoon of November 3, Lu Weibing, partner of Xiaomi group, President of China and international department and general manager of redmi brand, accepted the media interview to interpret Xiaomi’s new retail strategy.
Lu Weibing said that the number of Xiaomi home stores has exceeded 10000, and now the offline market share accounts for about 7 ~ 8%. Nearly 8000 of these 10000 stores have been opened in recent one year, and the maturity cycle of most stores has not passed. Since then, based on the maturity of stores and the management upgrading of all aspects, 10000 stores still have 30% to 40% room for efficiency improvement. From this perspective, if the whole front is extended to see the future trend, the competitive impact of OV and glory on Xiaomi will not be too high.
Lu Weibing mentioned that the definition of Xiaomi’s “new retail” is to do offline with the thinking of e-commerce, focusing on traffic, conversion rate, customer unit price and joint rate. This set of indicators is completely different from the retail idea of making mobile phones, and it is a more complex topic.
On October 30, the 10000th Xiaomi home store opened in Shenzhen happy coast.