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Xiaomi Shifts Strategy to Boost Sales in Offline Retail Stores in India

Joane — Tue, 18 Jul 2023 06:35:21 +0000

Xiaomi, the Chinese smartphone giant, is changing its approach in India to prioritize offline sales through retail outlets. The Xiaomi India president revealed that this shift in strategy is to reinvigorate its smartphone sales and catch up with its competitor Samsung.

India has experienced a surge in e-commerce sales through platforms like Amazon and Flipkart, enabling Xiaomi and other smartphone brands to expand their market presence in one of the world’s fastest-growing smartphone markets, which boasts 600 million users. However, despite the online growth, offline retail remains the dominant channel, accounting for the majority of smartphone sales in the country.

Currently, Xiaomi already has a strong presence in 18,000 offline stores across India. Now, the company plans to further increase its offline footprint to capitalize on the untapped potential of retail. Muralikrishnan B., Xiaomi’s India head, acknowledged the company’s relatively lower market position in the offline segment, noting that competitors have been executing their strategies well and enjoying a larger market share.

Source. mi.com

To regain its market share, Xiaomi intends to collaborate with phone vendors and offer a wider range of products such as Xiaomi TVs and security cameras, leveraging the less intense competition in these areas. Expanding beyond its existing 18,000 outlets, Xiaomi aims to extend its store network in India. Muralikrishnan also acknowledged the issue of stores prominently displaying rival brands alongside Xiaomi products, which the company plans to address to strengthen its marketing efforts.

Recent data from Counterpoint Research reveals that Xiaomi has slipped behind Samsung in terms of market share in India, with Samsung currently holding a 20% share compared to Xiaomi’s 16%. To enhance its offline presence, Xiaomi plans to hire more store promoters who engage and pitch Xiaomi phones to buyers inside retail outlets. The company aims to triple the number of promoters to 12,000 by the end of the following year, compared to early 2023 levels.

By shifting its focus towards offline sales and expanding its retail network, Xiaomi aims to revive its smartphone sales in India and narrow the gap with Samsung. Recognizing the significance of physical stores in the Indian market, Xiaomi aims to capture the attention of consumers through brick-and-mortar channels and strengthen its competitive position.

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Xiaomi 11T Pro retail store offers include free Mi Band 5, ₹3,000 cashback, & more

Sean — Wed, 19 Jan 2022 08:10:23 +0000

Earlier today (19th January 2022), the highly anticipated Xiaomi 11T Pro had just been launched in India. During the livestream, the company shared the pricing of the device, and now, we even have some more information regarding offline offers. So lets have a look.

While the Chinese tech giant had announced a flat 5,000 INR (roughly 67 US Dollars) discount on the 11T Pro for online buyers, Xiaomi did not reveal any offers for offline channels in the live event. But now, a company official has revealed details regarding offline retail offers for the device starting from 39,999 INR (roughly 536 US Dollars). One of the highlighting offers include a free Mi Band 5 smart band.

Apart from the free wearable device, the brand is also offering up to 3,000 INR in cashback. This may vary based on the model you are planning to buy. Furthermore, the company is also offering zero down payment based EMI options that also cost no processing fee either. On top of this, prospective buyers can even avail an additional discount of 5,000 INR on Exchange. Notably, sales of the device begins at 2PM IST across all channels.

Talking about the Xiaomi 11T Pro, it is referred by the brand as the ‘The Hyperphone’ as it arrives with 120W fast charging support. It sports a 6.67 inch flat AMOLED display with FHD+ resolution and 120Hz refresh rate. Under the hood, it houses a Qualcomm Snapdragon 888 chipset paired with LPDDR5 RAM, UFS 3.1 storage, and liquid cooling technology. It is powered by a large 5,000mAh battery, with the rear featuring a triple camera setup with a 108 megapixel primary camera. On the front, it has a 16 megapixel shooter for selfies.

Xiaomi misses Q3 2021 revenue projection amidst growing competition & chip shortage

Jed John Ikoba — Wed, 08 Dec 2021 18:06:07 +0000

Leading Chinese global tech player Xiaomi released its Q3 2021 financial report recently which indicates a lower-than-expected 8.2% rise in revenue. The revenue numbers could point to stiff competition in the global smartphone market in the wake of the company’s impressive overall performance in 2021.

The global smartphone market is becoming highly saturated in some countries and smartphone makers are seeking more innovative products to maintain their market share. Xiaomi’s shares declined by about 7% when the market opened on Wednesday. Smartphone revenue rose by 0.4% to 47.8 billion yuan ($7.49 billion) within the quarter. This was despite a 5.8% decline in smartphone shipments to 43.9 million units.

The company stated that the global chip shortage also affected its numbers. Xiaomi says it’s working hard to get necessary chip supplies to meet its projections for 4G phones in the new year. Overall sales rose to 78.06 billion yuan in Q3 2021 but missed the industry projection of 79.20 billion yuan.

Xiaomi has continued to pursue an aggressive marketing campaign through its retail stores across China. The company currently operates 10,000 stores in China and is still counting.
The financials also indicated that Xiaomi earned 5.18 billion yuan in profit, ahead of industry projections. The company grew in market share previously due to Huawei s decline, but Chinese competitors like Oppo have had a better growth trajectory and a higher market share.

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Xiaomi India open 100+ new exclusive stores in India to boost its retail strength

Sean — Wed, 15 Sep 2021 10:00:19 +0000

Xiaomi has just announced earlier today (15th September 2021) that it has opened 100+ new exclusive physical stores in India. The move from the company arrives as it seeks to bolster its ‘retail footprint’ in the region.

Mi Store India

The Chinese tech giant shared the news today, stating that it has added new stores across tier 5 and tier 6 markets. Though this, the company has official opened stores ranging from Kashmir in the north to Kanyakumari in the south of India. Furthermore, the new stores have sought to boost its presence in rural regions in the country. The brand’s new 100+ stores target the tier 5 and tier 6 cities, which have a popular count fewer than 50,000 people.

new exclusive #MiStore!

We have further strengthened our #Offline #Retail footprint with 100+ new exclusive stores.

Part of #GrowWithMi initiative:
* Most retail partners are entrepreneurs
* Plan to open 3000 new stores
* Investment of ₹100 Cr.

I #Xiaomi #India https://t.co/UXFXgn6QQt

— Manu Kumar Jain (@manukumarjain) September 15, 2021

Muralikrishnan B, Chief Operating Officer, Xiaomi India, stated that “We started our Grow with Mi initiative 6 months back and are overwhelmed with the responses and support that we have received from our retail partners across the country. This has encouraged us to further strengthen our network with 100+ new stores. Our aim with the initiative is to increase the availability of Xiaomi and Redmi products in Tier 5 and Tier 6 cities and provide a best-in-class experience in regions that have limited access. We are confident that our retail stores will take the budding entrepreneurs a step closer towards their dream and further generate employment in each pocket of the country.”

For those unaware, the company opened its first flagship retail store in India back in 2018 in Bengaluru, Karnataka. Since then, it has managed to reach a notable milestone by opening over 3,000+ offline stores in the country. Additionally, Xiaomi had also committed to open 6,000 stores within the next 2 years with a planned investment of 100 Crore INR (roughly 13.6 million US Dollars).

Research firm ranks Xiaomi’s Mi Home as India’s top exclusive smartphone retail store

Jed John Ikoba — Sun, 04 Apr 2021 08:48:34 +0000

A recent national survey by UNOMER has revealed that Xiaomi’s retail outlets for its products in India had the most significant appeal among Indian consumers. The study showed that the Mi Home store was the first choice for an exciting experience overall across several customer satisfaction parameters captured in the survey questionnaire.

Respondents were asked to rate their satisfaction on the various measurement criteria, and the percentages were computed for each parameter across the exclusive smartphone retail stores in India.

The Unomer study titled: “Smartphone Retail CSAT Benchmarking Research Report” aims to measure customer satisfaction across a broad spectrum of India’s leading smartphone exclusive retailers, including Xiaomi, Samsung, Oppo, Apple, and several others. Some of the customer satisfaction parameters captured in the study were the physical layout, purchase financing options available, the fluidity of the checkout system, and staff knowledge, among others.

The Mi Home stores had an average rating of about 62% in staff knowledge criteria, billing/ checkout process, and financing options, which were the highest among the surveyed exclusive retail stores. Xiaomi has seen remarkable progress since it first established its Mi Home stores in India, and it now has 75 of such stores spread across 19 cities across the subcontinent.

In his response to the UNOMER report, an executive of Xiaomi India, Sunil Baby expressed joy at the report, putting the Mi Home stores as the best premium exclusive smartphone store in India. He said the Mi brand would continue to pursue excellence in all its ramifications and continue to provide satisfaction to its teeming customers across India. Baby stressed that the Mi Home stores have a unique architectural design and were constructed using eco-friendly materials, which combine with the excellent staff and products to give a unique experience for its teeming Indian customers.

Xiaomi has assured that it will continue to strive to maintain and even exceed expectations in the high standards it has set for itself.

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Xiaomi reopens its 1800+ stores across China; strict measures for disinfection to be followed

Jeet — Thu, 19 Mar 2020 05:46:30 +0000

Xiaomi, one of the leading consumer electronics company in China, has today announced that the company will be reopening its more than 1,800 Xiaomi Stores across the country after they were shut down because of the coronavirus.

The company has also added that it will be adopting strict measures for in-store disinfection, temperature measurement and along with some other steps. Xiaomi is also appealing customers for the safety and is asking for their cooperation.

Earlier, the company had shut down its offline stores in China and had said that the measure was necessary to assist the epidemic prevention and control work in China.

The suspension of factory operations could also lead to a snag in manufacturing processes and even supply shortages as many cities were under lockdown. The longer the factories remain shut, the larger the impact and uncertainty.

Xiaomi wasn’t the only company that decided to shut down a part of its business. Last month, major tech companies announced that they would temporarily shut down all corporate offices, manufacturing factories, and retail stores across China. These companies include Apple, Samsung, Microsoft, Tesla, and Google.

Meanwhile, Xiaomi recently launched the Redmi Note 9 Pro and Redmi Note 9 Pro Max smartphones in the Indian market and is now reportedly all set to launch its flagship devices — Mi 10 and Mi 10 Pro in the Indian market. Further, the company will be debuting the Mi 10 lineup globally on 27th March.

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