Jan 14, 2021|
JD Cloud and AI Helps Miniso with Digital Transformation
by Rachel Liu
As Chinese New Year is around the corner, popular Chinese retailer and variety store chain Miniso(名创优品) is eying for a sales campaign for JD’s CNY themed promotion to be launched on Jan. 20th. During Miniso’s effort of moving online and achieve digital transformation, JD Cloud and AI has played an important part.
As digitalization becomes a trend for retailers, especially after the break of COVID-19, JD’s rich technology and customer service experience in retail, logistics, finance, cloud computing, IoT and big data has brought comprehensive intelligent solutions to retail enterprises.
Even during the epidemic, Miniso saw a sales increase of over two times and fast development on digitalization. Through working with JD Cloud and AI, Miniso has successfully moved its big data and supply chain platform onto the cloud. In the future, Miniso hopes to achieve digitalization on inventory management, store operations and product customization by leveraging JD’s digital platform.
“The digitalization in the retail industry in China began very early, and the epidemic accelerated it,” said Guofu Ye, founder of Miniso. “Now digitalization has become a more important portion in the business.”
“Miniso is developing very fast,” said a spokesperson for JD Cloud and AI. “Especially in this August and September, Miniso needed to expand its big data platform quickly. Its cloud host and cloud storage needed to be expanded by 125% and 300% respectively. We formed an emergent project team to help Miniso make an expansion plan and leveraged resources from different business departments to help Miniso achieve this goal.”
“By 2030, all companies will become technology companies. Technology will drive the revolution of the retail industry profoundly in the next 10 years,” said Bowen Zhou, Chair of JD Technology Committee. He hopes to help clients with over 80% of their digital transformation demands, and for the remaining 20%, JD Cloud and AI can provide customized capabilities for clients.
Miniso’s cooperation with JD on retail goes back to 2017, when Miniso opened the first flagship store on JD, and launched its first-party store in 2018. In 2019, Miniso opened an offline store in JD’s Beijing headquarters. From 2018 to 2020, sales of Miniso increased over 10 times on JD. During the 2020 Singles Day Grand Promotion, sales of Miniso surpassed RMB 10 million yuan. Miniso is looking to work deeper with JD on launching new products, developing customized products and joint marketing campaigns.
Miniso was founded in 2013, and soon became popular among Chinese consumers. In the 2020 fiscal year, its annual revenue achieved RMB 8.97 billion yuan. According to the Frost & Sullivan report in 2019, it had become the largest private label brand retailer around the world. As of Sep. 30, 2020, it owns 4330 stores in 85 countries and regions, including 2633 stores in China. Miniso listed on the New York Stock Exchange in 2020.