A successful business model always integrates B2B and B2C elements. Examples like Sam's Club in the past and Miniso today demonstrate the importance of combining these aspects effectively. Ye Guofu has been working to differentiate Miniso through strategies like transitioning from interest-driven consumption to a product brand and acquiring Yonghui Superstores.
According to Ye, Miniso represents "optional" goods, while Yonghui symbolizes "essential" goods. Despite their differences, both follow a consistent logic: collaborating with manufacturers for unique, co-designed products. This approach aligns with the strategies of companies like Sam's Club and Fat Donglai. Retailers lacking differentiation risk being replaced by more efficient platforms like major livestream hosts, Alibaba's 1688, or Pinduoduo.
Miniso currently partners with over 1,100 suppliers concentrated in regions like the Pearl River Delta, Yangtze River Delta, and Central China. Its strength lies in efficiently integrating a differentiated supply chain, unlike many other consumer brands. Beyond managing and optimizing the supply chain, Miniso redefines it by injecting new consumer trends through IP collaborations, creating a business model driven by "emotional value" rather than competitive price wars.
Integrating Yonghui Superstores is Ye Guofu's attempt to replicate this logic in the essential goods category. With lessons learned from Fat Donglai’s successful reforms, introducing a superior supply chain into Yonghui promises significant potential.
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