Every reporter: Wang Fan Every editor: Chen Junjie
"After the epidemic, it is not retaliatory consumption, but retaliatory deposit." On March 15, MINISO CEO Ye Guofu was accepting the "Daily Economic News reporter said in an interview.
In February, as the leader of MINISO, a leading physical retailer with more than 2500 stores across the country, he saw that 1 billion yuan worth of goods prepared for the Spring Festival could not be sold in the warehouse. Ye Guofu I was also very worried. “Our physical retail industry has made great sacrifices. MINISO closed 50% of its stores nationwide in February, and its performance dropped by 95%. I was really nervous at first, but then I adjusted my mindset and thought about how to deal with this bad Things turn into good things.”
Ye Guofu made up his mind during the epidemic to cut down the unit price of products by 20%~30%, develop social e-commerce companies that have never been involved, and cut internal wages to live a "tight day" At the same time, it spent 800 million yuan to support franchisees to open stores. "Consumers' incomes declined during the epidemic, and they realized the importance of deposits. After the epidemic, they will become more careful in their calculations. This will be an opportunity for the rise of super cheap brands." Ye Guofu said.
MINISO CEO Ye Guofu is interviewed by reporters every time reporter Wang Fanshe
The unit price returns within 30 yuan: Consolidate the positioning of parity consumption
MINISO has quickly swept through at an average price of about ten yuan when it was founded in 2013. Now it has more than 2500 stores across the country, with a revenue of more than 20 billion yuan, which has become a real product. Retail "dark horse".
Over the past seven years, MINISO’s image has undergone a tremendous change. It has co-branded with well-known IPs such as Marvel, Disney, and the Forbidden City. It has eliminated a large number of low-priced 10-yuan line products and deployed higher-priced products. The “Daily Economic News” reporter found that the most expensive product in the MINISO store is a suitcase worth 599 yuan, and there are also a batch of 100-yuan serial products, including a 179 yuan boiler, 139 yuan headset, etc. This is quite different from the product sequence of MINISO in the early days of its establishment.
However, in the face of the epidemic, MINISO still made the decision to cut off high-priced products.
"During the epidemic, we developed more products with lower prices, and new products on the market were 20% to 30% cheaper than before." Ye Guofu told reporters that MINISO launched a lot of 100 yuan in the past two years For the above products, it was decided this year to cut off products above 100 yuan or even above 59 yuan, and to focus more than 95% of the products within 30 yuan, and this price level will be maintained in the future.
"It is the epidemic that prompted us to make up our minds to reduce prices. The epidemic has come, and everyone’s pockets have shrunk, they pay more attention to deposits, and they are more careful. The more careful the calculation, the more we must provide consumers with products that exceed expectations. Enjoy a quality life more easily, without shopping pressure." Ye Guofu said.
In order to cooperate with the price reduction measures, MINISO stated that it will continue to integrate the supply chain and seek lower costs. For example, Ye Guofu said that in the past one order was given to 10 factories for production, and now one order is given to 2-3 factories, so that each factory's order is bigger and the purchase price is lowered. At the same time, MINISO has also invested in a number of factories to form an ecological supply chain that can provide products close to cost prices.
Ye Guofu said that a high-quality product experience does not require high prices to obtain: “A 20% to 30% price reduction is achieved without sacrificing product quality. MINISO has been a representative of consumption upgrades in recent years. It is not consumption degradation. Consumption upgrade is to allow everyone to spend less money to buy better products instead of spending more money to buy better products. The latter is a past consumption habit. We are willing to make a low margin and only earn one. A little bit, but it can occupy users and the market.”
Open up new community e-commerce: from disdain to actively embrace
Mingchuang Youpin as an offline entity A typical representative of retail, facing the impact during the epidemic. According to Ye Guofu, MINISO closed 50% of its stores nationwide in February, its performance dropped by 95%, and its operating income dropped by more than one billion.yuan.
Ye Guofu is a loyal believer in physical retail. He mentioned in many speeches that the dividend period of e-commerce has passed, and he firmly believes that physical retail scene-based consumer experience cannot be given to consumers by e-commerce. Under this concept, the core of MINISO has been offline sales for a long time, and the annual online revenue accounted for less than 1%.
However, Ye Guofu had to rethink the meaning of online sales to MINISO during the epidemic when the passenger flow was drastically reduced, and for the first time proposed the concept of "new community e-commerce"-in During the epidemic, based on offline stores to create community services, each store serves household goods consumption in the surrounding area of 3 kilometers, and cooperated with SF Express to launch the "Same City Express Delivery", and relying on the WeChat marketing ecology, launched MINISO's distribution fission mini program to enter the private sector Domain traffic.
"When we talk about social e-commerce, we will think of micro business. In the past, we looked down on this kind of thing and were unwilling to do it, but now we feel that this time we should focus on this place." Ye Guofu Said to the reporter of "Daily Economic News", "Our Guangzhou Oriental Baotai store has attracted more than 2,000 people in a few hours, and customers can enjoy fast home delivery services without going out."
叶国富It is believed that the reason why this model is called the new community e-commerce is because it combines the O2O home business of local life and the recent hot community group buying; it is different from traditional e-commerce. The biggest difference is that there is a relatively high-density physical store as a support to reach consumers directly, rather than through third-party e-commerce platforms such as Tmall and JD.com.
"Today's traditional e-commerce companies basically have to pay a lot of advertising fees and traffic fees, but in fact, the wool comes from the sheep, and it will eventually reach the consumers." Ye Guofu said, "Our stores themselves are huge The traffic portal has accumulated 25 million members in the past few years, but the membership stickiness is not enough. If we strengthen the stickiness through the community, we can increase the customer's repurchase rate. We must constantly adjust the chain to After'end-to-end', it will reach consumers directly, so that advertising fees and traffic fees will be transferred to products and serve end consumers well.”
According to Mingchuangyoupin’s plan, Xinshe The first step of group marketing is to mobilize employees to spontaneously bring goods, live video, and show up to promote products. In the future, the second step will develop "Minchuang Store", which is a kind of light franchise compared to the usual investment of several million in opening a store. Shop, try to do secondary distribution. Ye Guofu’s goal for the new community’s e-commerce business is to create a group of small housekeepers, “we pack all your toothpaste, toothbrushes, slippers, socks, and towels”. The data of
shows that since MINISO launched its new community e-commerce company during the epidemic, its online sales have achieved a monthly growth of 300%. Ye Guofu predicts that MINISO's online business sales will account for close to 10% this year.
800 million yuan to support store opening: seize the low-rent expansion opportunity "Tighten belts", cut all employees' salaries and reduce various unnecessary operating expenses; the second is to set up 800 million yuan of "partner support funds."
In late February, MINISO issued a proposal to overcome the difficulties to internal employees, proposing that the salary for February and March should be paid according to the new standard, with 50% of the salary for senior management and director level, and managers to senior managers 60% of the salary is given to the ranks, and 70% of the salary to the grassroots employees.
On the other hand, MINISO raised 800 million yuan in funds, which will be used to encourage franchisees to actively take and open stores during the epidemic, and provide advance payment support in terms of payment, decoration, and brand licensing fees. Ye Guofu said: "Up to now, there have been nearly 20 intentional franchisees, with a total application quota of nearly 100 million yuan. There is even a Shanghai franchisee who has taken 40 store resources to ask the company for support."
Talk Starting to reduce expenditure internally, but supporting externally, Ye Guofu told the "Daily Economic News" reporter: "We would rather have a harder life ourselves, but also encourage and guarantee the development of franchisees. If we do not tighten our pants this time If the belt has a hard time and does not take care of the franchisee customers, then we will lose the best development opportunity in history.”
He frankly said that despite the epidemic periodPhysical retail has been hit hard, but this is also the best time for the lowest rents in shopping malls and stores to deploy physical retail. The recovery of MINISO's existing stores also brings confidence to franchisees' expansion. At present, except for Hubei, all MINISO stores have basically resumed operations; in the past week, offline store sales have rebounded by 60% to 70%.
"We believe that the impact of the epidemic will pass soon, but the benefits of arranging offline stores are long-term." Ye Guofu told reporters for example, "The average store rent is now down by 20%. Although we took the risk of two months, the contract period for one of our stores is 3 years to 6 years, and we may save up to 6 years in the future.”
The reporter of "Daily Economic News" noted that we strongly encourage Behind the franchisees opening stores is MINISO’s plan to accelerate its expansion. Ye Guofu once put forward internally the goal of realizing "hundred countries and hundreds of millions of stores" by 2022. Currently, MINISO has more than 4,200 stores worldwide. Within two to three years, MINISO has to achieve the goal of doubling its stores and open more stores than in the past seven years. The pressure is indeed not small.
It should be noted that after 7 years of development, is the layout of MINISO in domestic physical retail close to saturation? This is still worth exploring. However, after this "epidemic", Ye Guofu is full of confidence and hopes that more overseas "virgin land", even doubled the goal of opening stores in 2020-"Originally planned to open 600 stores worldwide this year, but passed After the epidemic, we doubled our target to open 1,200 stores."
"We believe that the epidemic will pass soon. After this epidemic, global consumption power will decline, consumers will be more careful, and consumption will return to the essence and return to the pursuit of the ultimate cost-effective affordable consumption. This is super parity. Opportunity for the rise of the brand.” Ye Guofu said at last.
Daily Economic News
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-