Over 6000 New SKUs Displayed at the 2019 MINISO Global New Products Ordering Fair
On November 21, the 2019 MINISO Global New Products Ordering Fair was successfully held in the Intercontinental Guangzhou Exhibition Center. It set up six theme pavilions, five categories pavilions and five “IP” pavilions, and over 6000 new SKUs were displayed at the fair, showing MINISO’s prevailing fashion trend in product design, category development and IP collaboration in 2019. The 2019 MINISO Global New Products Ordering Fair could be compared to a “mini Canton Fair”. Agents and partners from all over the world found surprises that exceeded expectations during the fair.
Product is the primary strategy for enterprise development. Mr. Ye Guofu, the global co-founder and CEO of MINISO, always emphasized that, taking product as the core of enterprise development, only by constantly changing and innovating, embracing changes and breaking through ourselves can we seek for long-term development in the international market. Mr. Ye expressed that, in the upcoming year, MINISO will strictly separate the standards to different markets in terms of product research and development, particularly in product classification and packaging. However, high quality and high cost performance will still maintain a high level as usual.
Not only are the products of MINISO of high quality, but they have good looking as well, because MINISO has put great efforts to product design. Mr. Miyake Junya, the global co-founder and chief designer of MINISO, stated at the fair that, with the “natural, simple and quality” brand proposition, MINISO created products and restored the essence of products through ingenious design. Statistics revealed that, MINISO developed 4000 SKUs in a year, and 300 new SKUs were launched every month, gaining 195 awards and patents. These results were completed by a young, enthusiastic and efficient product development team. Ada Dou, the Executive Vice-president of MINISO Commodity Center, indicated that, 6357 new products were exhibited at the fair, and it only took four months for them to prepare, which meant that there were 3 SKUs being made per hour. Such a rate of development is rarely seen in the real retail industry.
In order to let agents and partners have a deeper understanding of the new products, a 220-square-meter simulation store was set at the fair, including six theme pavilions, five categories pavilions and five IP pavilions. The six theme pavilions included Floral Fantasy, Vatnajokull Glacier, Fruit Kingdom, Modern Collection, Youth League and Christmas Land. The five categories pavilions were the health & beauty, homeware, electronic & electrical appliance, toy and fashion accessories, while the five “IP” pavilions included the We Bare Bear series, Adventure Time series, Hello Kitty series, Pantone series and the Marvel series.
Mr. Vikram Sharma, the vice-president of Asia Pacific for CN Company (Cartoon Network), said that he was optimistic about MINISO’s development. Since the We Bare Bears was licensed to MINISO, the products of We Bare Bears series have been well received by consumers all over the world. Therefore, they decided to launch the 2.0 version of We Bare Bears series, and he believed it would be more popular than now.
How will MINISO take the lead in 2019? Mr. Li Minxin, the vice-president of MINISO Investment & Development Center believed that, whoever owns good products can take the lead in the market. The new product renewal rate will have a very important impact on the performance. MINISO’s goal in 2019 is to achieve a new product renewal rate of 40%. After seeing so many new products with higher quality and better design, many agents and partners decided to place orders immediately, so as to make the most adequate preparations for the spring and summer of 2019.