Xiaomi has reached a very important stage in the development of its new retail business model, with the number of stores reaching 10,000 with the new store opened in Guangdong city in Shenzhen province of China on October 30th. Opened in a completely independent building of 600 square meters and equipped with three-dimensional LED screens, the store is located in one of the most vibrant commercial areas.
Xiaomi Founder, President and CEO Lei Jun celebrated the opening of Xiaomi’s 10,000th store with a post he shared on Twitter. Lu Weibing, Xiaomi Group Partner and Senior Vice President and Head of China Region, Head of International Department and General Manager of the Redmi brand, said: “The opening of the 10,000th Xiaomi store is a great milestone for Xiaomi to make a major milestone in its new retail business. “It is our ultimate vision to ensure that every Xiaomi fan has a Xiaomi store close to their home, and that everyone can reasonably buy and experience the best Xiaomi products. No matter what, Xiaomi’s vision for retail will always remain the same.”
Xiaomi’s 10,000th store adopts the new “Xiaomi Store 4.0” concept with a minimalist style and futuristic technology feel. This concept also functions as a multifunctional store that can offer both sales and service. Users who can experience Xiaomi products practically can also purchase flagship smartphones such as Xiaomi MIX FOLD and Xiaomi 11 series, as well as the new Redmi Note 11 series and many AIoT products.
Xiaomi announced its goal of launching a Xiaomi store near all Xiaomi fans in November last year. After this announcement, Xiaomi, whose new retail business entered a rapid expansion phase, broke a new record by opening an average of 27 new Xiaomi stores in China per day. Xiaomi has opened about 8,000 stores in China in the last year.
The new retail business, with smart hardware and internet service, forms Xiaomi’s “Triathlon” business model, which has three core building blocks. During the founding of Xiaomi, Lei Jun predicted that the internet model could be applied to the retail space to achieve higher efficiency, which could reduce sales and operating costs, thereby improving user experience. The increase in Xiaomi stores proved this prediction as customers get products and services efficiently and easily. Xiaomi’s retail business continues to expand rapidly not only in China but all over the world, and the increase in the number of stores is pleasing to users. This not only makes it easier for users around the world to experience Xiaomi products directly, but also demonstrates Xiaomi’s hard work in business development.
“We believe that everyone has the right to a better quality of life through innovative technologies, because achieving a higher quality of life should not be impossible,” said Lu Weibing.
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