On October 14th, Miniso and Meituan announced a deep strategic cooperation, with a focus on instant retail business. Miniso will launch over 800 "24-hour super stores" in the form of lightning warehouses on Meituan within the year, serving consumers' immediate needs of "online ordering, fastest delivery in 30 minutes". At the same time, both parties will also explore cooperation in the in store business. Meituan will provide multiple digital marketing support to Miniso based on user in store consumption scenarios.
Wang Puzhong, the core local business CEO of Meituan, and Ye Guofu, the Chairman and CEO of Miniso Group, witnessed the signing on site. Xiao Kun, Vice President and Head of Flash Purchase Business Unit of Meituan, Chen Yifang, Head of Meituan Leisure and Beauty Business Unit, and Yao Jianzheng, Vice President and General Manager of China Operations of Miniso Group, signed a deep strategic cooperation agreement on behalf of both parties.
Meituan is a very good deep partner of Miniso, and the two sides are highly matched in style and genes. Miniso also hopes to become a benchmark partner for Meituan. Ye Guofu said that Miniso continues to be optimistic about the development prospects of instant retail and flash warehouse formats, and hopes that this cooperation will become a new starting point, making the "24-hour super store" instant retail flash warehouse format the second growth curve of Miniso's domestic market.
Wang Puzhong stated that Miniso has strong supply chain capabilities and product strength, actively embracing instant retail. Meituan will leverage the synergistic effect of door-to-door and in store services to fully support Miniso's exploration of new business models. Currently, the layout of lightning warehouses has become the mainstream trend and inevitable direction of the evolution of the instant retail industry. We believe that this collaboration between the two parties will become a benchmark cooperation in the industry.
Meituan Ecology supports Miniso to explore new business models in Lightning Warehouse
According to Chen Zhenjie, the head of instant retail at Miniso, the "24-hour super store" in the form of a lightning warehouse is specifically designed to meet the online consumption needs of instant retail users. It is established and operated on the Meituan platform, and forms differentiation and effective complementarity with conventional offline stores in terms of product types, coverage, operating hours, and service experience.
Since the opening of our first store in January this year, we have opened about 500 '24-hour super stores' with a cumulative performance of over 100 million yuan, "said Chen Zhenjie. After nearly half a year of" trial run period ", this lightning warehouse new format has shown a very positive growth and profit trend. Therefore, Miniso has decided to accelerate its exploration of this format. Meituan has a deep accumulation and massive user base in the field of instant retail, which can provide strong support for the development of the new model of Miniso's' 24-hour Super Store '
Since joining Meituan in 2018, the brand's new customer base for Miniso has increased by over 70% annually over the past five years. This deep strategic cooperation can be seen as an upgrade and deepening of the cooperation between the two parties in the field of instant retail, "Xiao Kun said. Regarding the exploration of the new business model of Mingchuang Youpin's lightning warehouse, the two parties have carried out deep collaboration in site selection, inventory, operation, organization, and other aspects. Meituan Flash Purchase provides customized warehouse network planning and precise site selection for Miniso; Based on user needs, Meituan Flash Purchase provides customized pallet strategies for Miniso, and the two parties have jointly created differentiated high-quality pallets for exclusive "24-hour super stores"; At the operational and organizational levels, Meituan Flash Purchase has specifically established a store operation system and plan for Miniso, and both parties have formed dedicated teams to jointly accelerate the "opening of warehouses" process.
In addition to the focus of cooperation on instant retail, Meituan and Miniso have jointly built a "store official website" based on the consumption scenario of users in store, enriching online store information, optimizing online group buying supply, carrying out digital marketing cooperation such as online and offline IP joint marketing and joint subsidies, aiming to fully support Miniso's exploration of new formats with the Meituan ecosystem of "home+in store".
Layout lightning warehouse will become the biggest opportunity in the instant retail industry
The "Instant Retail Industry Development Report (2023)" released by the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce shows that the instant retail industry has maintained a high-speed growth rate of over 50% in recent years. The market size has exceeded 500 billion yuan in 2022, and it is expected that the instant retail market size will triple by 2025.
With the rapid growth of this trillion dollar market, many brand owners and retailers have vigorously laid out lightning warehouses, making this format one of the core driving forces for the growth and evolution of the instant retail industry. In this process, Miniso has become a benchmark brand for "opening warehouses" through deep cooperation with Meituan. Currently, Miniso has become the retail brand with the largest number of direct operated flash warehouses in the instant retail field.
Miniso attaches great importance to 'opening warehouses' and has set clear goals and plans, "said Chen Zhenjie. By implementing differentiated strategies in site selection, pallets, and other aspects, the" 24-hour super store "has formed a harmonious complementarity with conventional offline stores, which can actively promote sales performance. The "24-hour Super Store" is mainly located in first tier and super first tier cities, as well as popular travel cities with high demand for online consumption. It is mainly located in densely populated areas such as communities and residential areas to supplement the coverage of conventional offline shopping mall stores; In terms of operating hours, we aim to provide 24/7 service; On the shelves, in addition to regular fast-moving consumer goods, based on the product analysis provided by Meituan Flash Shopping, we have designed and developed a supply of goods that better meet the needs of instant retail consumers, such as travel supplies, gift items, cleaning supplies, digital accessories, beauty and personal care, pet supplies and other specialty products, rather than simply copying the existing shelves in offline stores.
In the future, the product differentiation rate between '24H Super Store' and regular offline stores is expected to reach 70%. We will continue to deepen our cooperation with Meituan and accelerate the 'opening' process with the growth of instant retail users, "said Chen Zhenjie.
The supply chain capability and advantageous products of Miniso are highly compatible with the trend of instant retail, which helps to enhance the richness and quality of Meituan's flash purchase supply. Xiao Kun said that the "24-hour super store" created through refinement and differentiation represents the lightning warehouse format of the current trend of instant retail evolution. This business model will effectively promote the second curve growth of Miniso's domestic market and drive the overall development of the instant retail industry.