1000 new Xiaomi stores promised

There are just 25 Xiaomi stores trading in greater China right now – but within four years the company plans to have 1000.

Xiaomi Corp says it recognises promoting itself online is insufficient to build brand awareness and loyalty and physical stores will help it connect with its customers.

“We want consumers to touch and test our products with the core technologies in the stores,” says Xiaomi CEO Lei Jun. “We have adapted our strategies.

“Xiaomi will open 1000 stores by 2020.”

Experiential stores, trading as Mi stores, already operate in Shanghai and Hong Kong, showcasing its smartphones and a rapidly growing range of other electronics, including automated vacuum cleaners, electric cookers, TVs and water purifiers. Some observers say the brand’s diversification has gone too far, reducing its focus on smartphones which has pegged back its market share in the mainland.

A year ago, Xiaomi was China’s fastest-growing smartphone brand, if not the world’s. Since then it has lost share to rivals Oppo, Vivo and Huawei and now longer ranks in the top five brands.

Xiaomi Corp this week released a new smartphone model, the 5S, featuring fingerprint recognition and dual camera – along with a new model 65-inch smart TV.

In July, Xiaomi international VP Hugo Barra said there was a “big chance” a second Mi store would open in Hong Kong following the success of the first one in Mong Kok, which opened in June 2015.

He said the flagship store had proven a “huge hit” so the model was worth repeating.

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