MEXICO CITY, Oct. 29, 2018 /PRNewswire/ -- MINISO officially set up in Mexico in December 2016, and has opened 76 stores so far, which is expected to increase to 95 stores by the end of 2018. With a wide range of commodities at affordable prices, MINISO quickly captured local consumers' hearts and became one of the favorite places for locals to go, according to PR Newswire on October 29.
Surrounded by seas to the east and west, Mexico is an irreplaceable bridge between North and South America and a gateway to Latin America from all over the world. With a population of more than 120 million, Mexico is the world's 11th most populous country and a huge consumer market. In recent years, Mexico has been favored by many institutions and enterprises. A large number of well-known Chinese enterprises, such as Huawei, Lenovo, Xiaomi and Haier, have invested and developed in Mexico successfully.
Consumers shop at MINISO in Mexico.
To realize the goal of "opening ten thousand of stores in one hundred countries with one hundred billion sales volume", MINISO is speeding up expansion in the global market and has opened over 1,000 stores overseas. Mexico is one of the most important markets for MINISO's globalization strategy. In the first half of MINISO's 2018 global new stores ranking, Mexico was ranked number one.
Chris, the head of MINISO Mexico, recalled when the first store opened. "The sales of the MINISO store exceeded our expectations and the product inventory that had been planned for three months was sold out in the first month. Every store we opened since then has had more visitors and higher sales."
Mexico is a competitive market. Many world-renowned brands such as Amazon, Wal-Mart and Alibaba have invested heavily in Mexico. However, MINISO opened up the market with its core value of "high quality but low-price", bringing a certain amount of pressure to local retail brands.
Influenced by the United States, Mexicans have a forward-looking view of consumption and a high degree of acceptance of foreign products. Mexicans enjoy living in the moment, regardless of their social class. Nowadays, MINISO has become one of the favorite places for locals to go.
The mainstream consumers of MINISO are women aged between 18 and 35. Electronics, beauty makeup, household products and toys are relatively popular in the Mexican market.
In Mexico, MINISO attaches great importance to the operation of social media and helps people fall in love with MINISO through the content generated by social media. "If you check out our Twitter, you will see people falling in love with the brand and everything they can find in the store," says Chris. Now Mexicans have embraced the wonderful and interesting new way of life that MINISO brings to them.
