According to Economic Times of India, the Manu Kumar Jain, Vice President Xiaomi and Managing Director of Xiaomi India, announced today that the new government policy of the Indian government, which came into force last February, did not adversely affect the company.
ΕIn essence, the new e-commerce policy has not affected the company in the last two years, the company did not sell the devices exclusively through its own platform. Instead, sales were made online through Flipkart, Amazon, Xiaomi Mall and 5,000 partner stores, and in physical stores from major retail chains such as Reliance, Big C and Poorvika.
Regarding the scale of online sales, Jain said that 2/3 of sales last year went online and the remaining 1/3 in physical stores. This year the percentage is expected to balance at 50-50, between online and offline sales. In order to expand its physical sales network, Xiaomi will build hundreds of new stores in Indian cities. Overall, in the Indian mobile market, online sales account for 35% of total sales, of which Xiaomi is responsible for 50%. The next company in the ranking has a percentage of 7%. An impressive difference!
Referring to the plans to expand the company's physical stores, Jain said that there are 50 'Mi homes' in 10 cities in India, with this number doubling in 2019. In addition, Xiaomi already has 5.000 partner stores and wants to become 10.000 this year. In addition, the company has 500 Xiaomi specialty stores (presence points in small towns), and this year's goal is to make 5.000. If Xiaomi's plans succeed, it will become one of the largest retailers in the country.
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