The Chinese tech giant is making significant inroads into the South Korean market, marking a key step in its global retail expansion strategy. According to its Korean social media channels, Xiaomi has officially opened its first physical “Xiaomi Home” retail store in the bustling IFC Mall in Seoul’s Yeouido district.
Images circulating online depict a vibrant launch, with crowds of enthusiastic consumers eager to explore and experience Xiaomi’s product offerings. The store mirrors the design and product selection seen in its domestic counterparts, showcasing smartphones, smart TVs, wearable devices, and products from its extensive “Mi Ecosystem.”
The approximately 60-square-meter store offers a comprehensive retail experience, providing product sales and after-sales service support. Customers can not only purchase items but also access warranty and repair services.
To further entice customers, Xiaomi is implementing attractive sales incentives. Purchases exceeding 15,000 Korean Won qualify for complimentary delivery, with a turnaround time of 48 hours within Seoul and 72 hours for island and mountainous regions. Furthermore, services like free warranty and on-site installation are available for larger products such as televisions and vacuum cleaners.
According to reports, Jason Li, Xiaomi’s General Manager for East Asia, highlighted that this physical store opening represents a significant step towards the company’s “New Retail” strategy in South Korea, creating a comprehensive consumer experience combining product sales and after-sales service.
This strategic move underscores Xiaomi’s broader global ambitions. During the 2024 annual results conference call, Xiaomi Group President, William Lu, revealed plans to open 10,000 Mi Home stores internationally within the next five years. The company intends to leverage its existing smartphone distribution channels to drive the expansion of its IoT product lines overseas, with a targeted doubling of international revenue within the next three to four years.
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