Chinese retail giant Miniso aims to become a leading player in the designer toy market, as it broadens its digital presence by tailoring e-commerce initiatives to platform-specific consumer behaviours while simultaneously reinforcing its core strength in the offline shopping experience.
Miniso was experimenting with product customisation to better align with the unique attributes of various e-commerce platforms in China, capital market director Christina Zhu Mengyun said during a recent interview at the company's headquarters in Guangzhou, the capital of China's eastern Guangdong province.
"For instance, on Douyin, where video content is highly effective, we might launch extra-large plush toys. These items have a higher unit price and are visually striking, making them particularly suitable for video-based marketing," she said.
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Founded in 2013 as a variety store offering affordable accessories and make-up products, Miniso shifted its mission last year to "become the world's leading IP operation platform", focusing on intellectual property-based toys and goods. Last year, its products featuring Chiikawa - a series of anime animal characters - became hugely popular.
Outside Miniso's headquarters in Guangzhou. Photo: Coco Feng alt=Outside Miniso's headquarters in Guangzhou. Photo: Coco Feng>
In response to its growing focus on toys, Miniso launched the Top Toy brand in 2020, specialising in toy products, including Lego-like building blocks. The company planned to spin off and list the brand on Hong Kong's bourse, according to a September filing. Miniso is currently traded on both the Hong Kong and New York stock exchanges.
With an online presence on major shopping platforms such as Alibaba Group Holding's Tmall, Amazon.com and TikTok, e-commerce has become increasingly vital for Miniso. Online sales accounted for more than 6 per cent of the company's revenue in the first half of the year, up from 5.2 per cent a year earlier.
Despite its push into e-commerce, Miniso's foundation remained firmly anchored in bricks-and-mortar stores, said public relations director Chen Chang. He highlighted the unique experiences offered by pop-up stores, such as those decorated as the magical school of Hogwarts for the Harry Potter collections, which cannot be replicated online.
[SRC] https://finance.yahoo.com/news/chinese-budget-retailer-miniso-bets-093000118.html
