Research On New Retail Development Strategy Of Xiaomi Company

Since October 2016,when Ma Yun proposed new retail at Yunqi Conference,the new retail has extended from the concept of online and offline integration to the reconstruction of offline retail formats with Internet of Things technology and cloud computing systems.It can be seen that the birth of a new thing is from abstract to concrete,positioning from fuzzy to clear.The inherent essence is that with the development of science and technology,traditional retail formats are difficult to meet the growing demand for shopping experience.So for the traditional industry,the transformation of the new retail business is imminent,and for the e-commerce platform enterprises to view the layout of offline entities is also very important.As a start-up company that has successfully landed in the capital market in Hong Kong in just 8 years,Xiaomi has maintained rapid growth in the early days of relying on Internet and smartphone outbreaks.However,the company's operating characteristics determine that relying solely on online retailing cannot be a long-term company.The moat,however,relying on traditional methods to expand offline retail channels will inevitably require a lot of manpower,material resources and financial resources.With the continuous breakthrough of science and technology,a retail format that integrates big data,cloud computing,Internet of Things and artificial intelligence has begun to sprout.This is a kind of retailing that aims to maximize the satisfaction of consumer experience.A retail form that maximizes the efficiency of business operations.Its emergence meets Xiaomi's requirements for offline retail expansion speed and retail efficiency.The innovation of new retail business model completely breaks the dividing line between traditional physical business and online e-commerce.It is not simply to pursue online and offline.It is a “smart business” that combines online and offline and deep integration of all retail resources.From the perspective of Xiaomi's new retail business,this paper first analyzes the development history of Xiaomi's new retail business,summarizes the shortcomings of Xiaomi's new retail business,and then analyzes the problem in depth,using PEST analysis tools to Xiaomi's new retail business.Analysis of policy,economic,social,and technological aspects of the macro environment,and the use of Porter's five-power model tool to determine the status of suppliers,buyers,new entrants,substitutes,and competitors in the new retail business competition of Xiaomi In-depth discussion,the analysis results in the SWOT model tool for conditional listing and secondary analysis,get four strategic combinations;finally concluded that in the initial stage of strategy implementation,the company should adopt a positive expansion strategy,take the steering phase in the second phase The conclusion of the strategy.The article aims to develop the strategic goal of Xiaomi's new retail business development by proposing problems,analyzing problems and solving the logical structure of the problem,that is,becoming the leader of the new retail industry.In order to achieve this goal,this paper has formulated specific strategies from sales,channels,products,etc.,and formulated safeguards to ensure the successful implementation of strategic objectives from five aspects: manpower,organization,assessment,operation and internal control.