China’s retailers must expand online presence in wake of coronavirus to survive future ‘black swans’, says Chinese lifestyle goods chain Miniso

Miniso says it will broaden its e-commerce presence at home and overseas, and launch new brands starting from online channels

E-commerce operations accounted for 5 per cent of the company’s revenues in the first three quarters of 2020, up from less than 2 per cent a year earlier

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The Guangzhou-based chain is known for its fashionable but affordable products ranging from household goods to cosmetics and food. Photo: AP

Published: 9:30am, 23 Jan 2021Updated: 9:30am, 23 Jan 2021

Chinese lifestyle goods retailer Miniso Group Holding says the industry needs to embrace digitalisation, as it expands its e-commerce business and uses online channels to develop new brands.

The Guangzhou-based chain known for its fashionable but affordable products ranging from household goods to cosmetics and food, has expanded its e-commerce business as a result of the pandemic.

E-commerce operations accounted for around 5 per cent of the company’s revenues in the first three quarters of 2020, up from less than 2 per cent in the same period of 2019.

“The outbreak of the coronavirus has had a huge impact on China’s retail industry. Bricks-and-mortar retailers needs to take the opportunity to embrace the trend of digitalisation. This will help to mitigate future risks,” said Robin Liu, Miniso Group Holding’s chief marketing officer and head of the company’s e-commerce business, in an interview. The group raised US$608 million in its initial public offering (IPO) on the New York Stock Exchange in October.

“The pandemic was a black swan, and also a catalyst that has accelerated our digital transformation and embrace of online channels.”