On October 14, MINISO and Meituan announced a deep strategic partnership, focusing on instant retail. By the end of the year, MINISO plans to launch over 800 “24H Super Stores” on the Meituan platform, enabling customers to order online and receive their purchases within as little as 30 minutes. Additionally, both companies will explore collaboration in in-store business, with Meituan providing multiple digital marketing supports based on customer consumption scenarios.

The signing ceremony was attended by Wang Puzhong, CEO of Meituan’s core local business, and Ye Guofu, Chairman and CEO of MINISO. They were joined by Meituan’s Vice President and Head of Flash Purchase Division, Xiao Kun, and Head of Meituan’s Leisure and Beauty Business Division, Chen Yifang, along with MINISO’s Vice President and General Manager for China Operations, Yao Jianzheng, who represented the respective companies in signing the strategic cooperation agreement.

“Meituan is an excellent partner for MINISO, as we share a strong compatibility in style and values. MINISO aspires to be a benchmark partner for Meituan,” Ye Guofu stated. He expressed ongoing optimism about the development prospects in instant retail and the flash store format, hoping this cooperation will mark a new beginning and turn the 24H Super Store into a new growth curve for MINISO in the domestic market.

Wang Puzhong highlighted that MINISO has formidable supply chain capabilities and product strength, as they embrace the instant retail model. Meituan will leverage synergies between home delivery and in-store services to fully support MINISO’s exploration of new business models. He noted that entering the flash store model has become a mainstream trend in the evolution of the instant retail industry, and he believes their partnership will set a benchmark within the sector.

According to Chen Zhenjie, head of MINISO’s instant retail division, the 24H Super Stores are designed specifically for the online consumption needs of instant retail customers and will operate on the Meituan platform. These stores will differentiate themselves from regular offline stores in aspects such as product variety, coverage area, operational hours, and customer service experience.

“Since opening our first store in January this year, we have launched around 500 24H Super Stores, achieving over 100 million yuan in cumulative sales,” Chen Zhenjie noted. After a successful trial period, this new flash store format has shown positive growth and profitability trends, prompting MINISO to accelerate its exploration of this model. He emphasized that Meituan’s deep experience in instant retail and its vast user base would provide strong support for the new 24H Super Store model.

Since joining Meituan in 2018, MINISO has seen its brand new customer acquisition grow by over 70% annually. “This deep strategic cooperation represents an upgrade and deepening of our collaboration in the instant retail sector,” Xiao Kun explained. The partnership will involve deep coordination in site selection, inventory management, operations, and organization, with Meituan’s Flash Purchase division offering customized warehouse planning and precise site selection. They will work together to create differentiated quality inventory for the 24H Super Stores based on customer demands.

In addition to instant retail, Meituan and MINISO will collaboratively develop a “Store Official Website” to enhance online store information, optimize online group purchasing, and conduct joint marketing initiatives, leveraging both online and offline channels for integrated digital marketing efforts.

With the rapid growth of the instant retail market, a recent report from the Ministry of Commerce’s International Trade and Economic Cooperation Institute indicates that the industry has maintained over 50% growth, with the market size exceeding 500 billion yuan in 2022. This rapid evolution presents an enormous opportunity for brands and retailers to establish flash stores, positioning MINISO as a leading brand in this sector through its partnership with Meituan.

Chen Zhenjie emphasized MINISO’s commitment to flash store development, stating they have set clear goals and plans. The 24H Super Stores complement regular offline stores and have been strategically located in first-tier and popular travel cities, primarily in densely populated areas like communities and residential zones to enhance market coverage. The stores will operate around the clock, featuring a product assortment designed to meet the needs of instant retail consumers, including items like travel accessories, gifts, cleaning supplies, digital accessories, beauty and personal care products, and pet supplies.

“Looking ahead, we expect a 70% differentiation rate in product offerings between the 24H Super Stores and regular stores, and we will continue to deepen our cooperation with Meituan to accelerate the rollout of new locations as the user base for instant retail grows,” Chen Zhenjie added.

Xiao Kun stated, “MINISO’s supply chain capabilities and product advantages align perfectly with instant retail, enhancing the richness and quality of offerings available through Meituan’s Flash Purchase service. The specially crafted 24H Super Stores represent a significant trend in the evolution of instant retail and will contribute to MINISO’s growth trajectory in the domestic market while driving overall development in the instant retail industry.”