Xiaomi proclaims to expand retail reach to 30,000 by 2023

  • With an investment of ₹10,000, Xiaomi announces 10,000 employments.
  • Mi Retail Academy will be unveiled where customer management employees and salespersons will be trained in various skill-sets.

Xiaomi, one of the leading smartphone brands in India, has announced to invest ₹100 crores over the next two years with an aim to expand its retail presence in the country. With this investment, the smartphone firm wants to touch 30,000 retail stores, which has now 15,000 stores throughout India.

Moreover, the company said that this decision would open 10,000 employment opportunities and wants to craft “foster retail entrepreneurship” in rural regions in the country. Retail partners will now have the opportunity to begin and run these new stores with the help of this venture. Additionally, a new Mi Retail Academy will be unveiled where customer management employees and salespersons will be trained in various skill-sets like in-store designing, marketing, customer service, retail excellence, and many more.

Manu Jain, managing director of Xiaomi India, said: “With this new initiative, we are determined to expand our presence and reach out to our customers in the convenience of their hometowns.”

This year, when many of the leading smartphone brands witnessed a slump in revenue and growth, Xiaomi again managed to climb the ladder to regain the top spot over three years now; the loss was very minimum. Last year, when the lockdown was imposed due to the COVID-19 pandemic, there was a huge slump of global components, and the supply chain disrupted due to which the overall smartphone market in India registered a 4 percent year-on-year decline.

In Q4 2020, Xiaomi dumped 1 percent market share YoY, claims Counterpoint Research. When it comes to shipments, the company is leading with 26 percent of India’s smartphone market share, which is then followed by Samsung with 19 percent share. Meanwhile, the Cupertino tech tycoon Apple managed to bag 1.5 million units shipments in 2020 that doubled its market share in India.

Your take?
What you think of Xiaomi’s investment in the retail sector, share your views with us. Do you think this decision is a bold move? What’s your favourite smartphone brand, model? What would you like to read about? Share your thoughts with us: editorial@the-electronics.com.
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Photo source: flickr

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