Xiaomi announced its national offline store, Mi Home, monthly sales reached 500 million RMB for the first time on July 31.
Recently, Xiaomi also announced to get a 3-year plan of loans up to 100 million USD for new retail and internationalization. It’s the opening of Mi home marks the layout of the core business of new retail model in Xiaomi.
Based on current Xiaomi balance sheet analysis, once the yearly sales totaled 70 billion RMB of Mi Home in 3 years, it’s to say that the online sales almost balance with the offline sales.
With more and more newly-opened Mi home, the Mi Home has impacted its product details reversely.
A barrier has already been built up by the business model of Mi Home which is very difficult to be copied by the competitors. Xiaomi enjoys its uniqueness compared with other brands. Huawei, Oppo stores only offers mobile phones, however there’re more selections available at Mi Home with price edge because of the same online / offline price. It has started Xiaomi ecological chain over 2 years with the investment in almost 100 factories, among which produced wrist band, portable power source ranked no. 1 in the domestic market.