Now Xiaomi has established its own offline store empire, but the reporter visited a third-party store and found that the sales of third-party mobile phone stores rarely recommend Xiaomi, and some malls refused Xiaomi 'enterance' due to quality problems; another 4. On the other hand, Xiaomi's expansion of finance has attracted a controversy in the market.
After Xiaomi (01810.HK)'s share price repeatedly fell below the issue price, the outside world began to re-examine the star company. When it comes to Xiaomi's mobile phone sales model, the first reaction of most people is 'hunger marketing', Xiaomi from online marketing to the gradual development Offline store, 'Out of stock' has always been a keyword. From the front line, grab a new mobile phone to face 'out of stock'. Now that there is a physical store 'Millet House', the 'explosive mobile phone' is also out of stock, more The key point is that the sales of major third-party stores under the line almost do not recommend Xiaomi mobile phones, and more malls refused Xiaomi 'enterance' due to quality problems, the new 'Millet 8 exploration version', the purchase needs to queue to grab the goods, according to The user broke the news, the chance of buying is small, and one of the 500 people has been able to grab it. It is very lucky. The mysterious Xiaomi always maintains the status of 'the store has no trace', and only sells through its own channels, can it highlight the sales and profits? ?
Offline dilemma
Xiaomi has positioned itself from the beginning, that is, 'Internet mobile phone'. From the marketing model, Xiaomi is the official website to buy, and due to the low number of restrictions, users have long complained that 'the phone cannot be grabbed', and users who urgently need to buy it. Only by looking for other third-party channels can even find the 'yellow cow' to increase the price.
The prospectus of Xiaomi Group shows that as of March 2018, MIUI has about 190 million monthly active users. It has been claimed that Xiaomi, who has thoroughly tried to understand the user's psychology, is still out of stock when sales are sluggish and not mass-produced, which is confusing. CEO Lei Jun said that Xiaomi's Internet model means that it can't bear too much inventory backlog, mobile phone profit is controlled at 1% to 2%, while revenue is low, if a product produces inventory backlog, it is difficult for funds to reflow in a short time. That is to say, the supply of Xiaomi mobile phone is in short supply, not just marketing means, but related to funds. Out of stock is actually because of the problem of Xiaomi's supply chain: First, due to its meager profit, the tolerance to supply chain funds is low; Second, because there is no distributor to share the inventory, the risk is relatively concentrated. At present, whether the above situation is resolved is not known to the outside world.
In terms of sales channels, Xiaomi has successively established a nationwide offline self-operated store, Xiaomi Home, since 2017. Since then, there have been two different channels for sale. Online official website is scheduled to purchase and offline stores are purchased directly. After visiting a Xiaomi home in Shanghai, I learned from the staff that the online and offline supply channels are different. The online supply is directly delivered by the Xiaomi headquarters, while the offline store is the headquarters. It is distributed to various stores, and the store is responsible for on-site sales. For consumers, the prices and products purchased by the two channels are the same. Although there is an offline self-operated store, Xiaomi still has not abandoned the online panning model. The new explosion of 'Millet 8 Discovery Edition' can still only be snapped up through the official lineup, and it is extremely difficult to grab. The reporter consulted the staff and learned that the 'Millet 8 Discovery Edition' price is more expensive than other similar mobile phones. The mobile phone' can only be obtained through official snap-up. Currently, it can be purchased through a small number of third-party channels, but it also requires consumers to increase the price by about 500 yuan. The staff told reporters that the mobile phone that was snapped up online also Must eventually put down the line to sell, after all, are two different channels, to explore whether the final version will sell offline, they do not know.
It is worth noting that in addition to Xiaomi's home, the relationship between Xiaomi and third-party stores has also become the focus of attention. The reporter visited a domestic brand mobile phone shop in Shanghai Zhengda Square and asked why the mobile phone shop staff did not sell the mill. It said that the mall's review of mobile phone brands is strict, Xiaomi does not currently meet the selection threshold of the mall, and the employee believes that Xiaomi has reduced the CPU of its mobile phone in order to reduce costs, resulting in a decrease in CPU processing power. In addition, in the after-sales service of Xiaomi, many users reflected that it is difficult to find people after Xiaomi's after-sales service. The customer service phone can't get in. You can only search for the self-operated stores under the Xiaomi home, and the efficiency of self-operated stores is low. , easy to cause unpleasant user experience.
Correspondingly, a number of Xiaomi users said that the Xiaomi mobile phone problem will be deleted quickly in the official forum of Xiaomi, but this matter has not been confirmed by Xiaomi.
On the other hand, Xiaomi's R&D expenditure in 2017 accounted for less than 3% of total revenue in the year, while sales and promotion expenses were 5.232 billion yuan.
Financial dispute
As the BATs get involved in finance and earn a lot of money, Xiaomi is also involved in the financial sector. However, the recent 'rice powder' exposed P2P recommended by them for their continuous PRS run has made their financial business full of controversy.
It is understood that the P2P products purchased by Xiaomi users are all pushed to them by Xiaomi in various user activities, but they are alleged not to have undergone relevant risk control management and qualification review. It is reported that P2P advertisements mainly appear in Xiaomi's mobile phone's 'millet movement' App and Xiaomi VIP's daily task page, many of which are inseparable from Xiaomi's own. Xiaomi marked the words 'rice meal exclusive' and 'daily welfare' in these advertisements, even if the user purchased the recommended wealth management products. , can also be exchanged according to the corresponding rules of millet products.
Nowadays, the number of running platforms is still increasing. The rice noodles have quickly established their own rights groups. Because they are afraid of being blocked, the group is often banned. Only the owners announce the progress of daily rights protection. In this 800 people In the large group, rice noodles told reporters that their own Xiaomi recommended P2P to run 5, they contacted Xiaomi officially asked to follow up, the response was that Xiaomi would seek lawyers for rice noodles as soon as possible, and try their best to help the police, 'we This result is very unsatisfactory. I hope that the senior executives will come forward to coordinate with us. ' One rice noodle said.
According to the statistics of rice noodles, as of July 30, 77 platforms recommended by Xiaomi VIP and Xiaomi Sports, 59 of which have already exploded, and the rate of explosion is as high as 77%. Among the 18 temporarily safe, there are also platforms for hidden crisis. The reporter noticed that the list of 'Mavericks Online' had only encountered high-risk early warning of online loans. In early July, it was exposed that its product 'Xingxin Niu' was suspected of self-inflict, and the platform was suspected of mismatching the maturity, and even suspected of setting up a pool of funds. According to media reports, 'Mavericks Online' has repeatedly encountered interviews with the Shenzhen Financial Office, requesting the release of current wealth management products. .
There are so many problems in the platform that is strongly promoted in their own apps, and whether Xiaomi has reviewed the qualifications of these platforms, and whether it should be responsible for his own credit endorsement in the case of thunder, the reporter called the relevant person in charge of Xiaomi, did not get Related response.
For the P2P blasting incident, Xiaomi’s official public response was that it had thoroughly inspected and released all P2P promotion advertisements, but did not explain how to follow up the follow-up questions. The reporter contacted Xiaomi Company, the company said that the official response is subject to In addition, there are media rumors that Xiaomi CFO's weekly funding may be due to the unsatisfactory IPO. In this regard, Zhou received a microblog to clarify the rumors, saying that 'want to see Xiaomi's interim report and see you! Thank you for your support!'