It brands itself as a “designer lifestyle brand” convenience store that offers low-cost goods with stylish designs. Miniso is already a global success with more than 1,800 stores around the world and now it’s setting its sights on Canada.
The Asian retailer, co-founded by Japanese designer Miyake Junya and Chinese entrepreneur Ye Guofo, has already opened a number of stores in the Greater Toronto Area, in the Vancouver area and in Edmonton and plans to launch between 30 and 50 locations throughout the country in 2018, with a focus on major cities. The stores, approximately the size of a convenience store, offer household goods, electronics, stationery and even cosmetics.
Although it prefers to label itself as a variety store chain, Miniso’s entrance into the Canadian discount market will inevitably increase competition for other low-cost retailers, such as Dollarama.
Retail expert Doug Stephens told CTV’s Your Morning that although Miniso isn’t set up like a traditional dollar store - it has smaller stores and its low-cost commodity items are designed in a Japanese style - they should still be considered a threat to that share of the marketplace.
“The dollar store channel itself is a channel that seems to be ready for disruption and Miniso is a contender,” he said on Thursday.
Miniso is also different from traditional discount stores in that they don’t have low-price products for everyone, Stephens explained. The chain is targeting a younger market of consumers who are between the ages of 18 and 34.
“MINISO appeals strongly to Millennials, who are both price conscious and sophisticated shoppers,” the retailer states on its Canadian website.
Stephens said Miniso is a testament to the way consumer habits are changing as more shoppers move online.
“Consumers now are really looking for what’s new, what’s different. I think a lot of that is our online experiences now are sort of conditioning us in the physical world to say, ‘Well, what’s exciting? What’s new? What’s next?” he said.
Despite the problems other foreign retailers (remember Target?) have had trying to find success in the Canadian market, Stephens said he believes Miniso might fare better with their expansion plans because of their smaller stores and interesting goods.
“They really have to just try and make sure that the branding stays on point, that the stores are open properly and things unfold as they should for consumers,” he said. “I think anybody in the market should be looking at Miniso and worrying about contenders like this coming into the space.”
Here’s a few of Miniso’s most popular products:
Plushies – According to Miniso, these “super soft, cute and snuggly” plush pillow toys are available in many different animals such as ducks, bears and cats and are considered a “top find” at the store.
Rose Hydrating Toner – This moisturizing toner is a cult favourite with reviews of the in-demand skincare product popping up on blogs all over the web.
Kumamon – Miniso calls this plush toy of the mascot for Kumamoto Prefecture in Japan “wildly popular” on its blog.
Water bottles – With a huge selection of sleek, minimalist designs as well as funky, patterned bottles that also come in glass, Miniso’s water bottles are often featured in blogs rating the best Miniso’s products and considered a “summertime essential” by at least one blogger.
Headphones – Whether they’re classic earbuds or of the wireless variety, Miniso offers a wide array of headphones that one blogger describes as “sleek and stylish.”
Socks (lots of them) – There are endless options for socks at Miniso for men and women featuring cute animals or basic prints in both short and long styles.
Click here for a list of Miniso locations that have already opened in Canada.
