Xiaomi has launched ShareSave, a cross-border ecommerce platform from where users in India and soon, other unnamed markets, can buy Xiaomi goods made in mainland China, the company announced in a blogpost. It is currently available as an app on the Google Play Store, albeit with very poor reviews, which users say, are related to coupons on the platform.
ShareSave will have products like the Mi x Wiha Precision Screwdriver, Yeelight LED Light Bulb (Color), Soocas Sonic Electric Toothbrush X1 Lite, and include mobile peripherals, smart hardware and lifestyle products. Xiaomi claims to offer “full local support” including after sales service and doorstep delivery.
ShareSave, like Mi’s other social forums like Mi Community, MIUI Forum, will let Mi users talk about and suggest features, take part in product development etc. Users can also get a discount if they pair up and buy with a friend, a price drop when an unnamed number of family and friends join the group, and “Kickstart”, where users can contribute $0.2 to their favourite products and get “up to 10 times the reward,” the company said.
Xiaomi’s approach to cross border ecommerce is quite interesting. So far, the company has had an online local store approach where it has had a US, and India store for example. In India, the company even has hundreds, if not thousands of retail shops selling Mi products. While its local tie ups with Amazon and other ecommerce players have served it well, those sales have mostly revolved around phones and the Mi Band and other popular products. With ShareSave, Xiaomi gets to sell IoT products from the Chinese market in India. One advantage Xiaomi would have over players like AliExpress is the shipping times, if it has figured out logistics through its existing channels. While Chinese ecommerce companies offer dirt cheap prices for products, they take forever (anywhere between 2-4 weeks) to be delivered to India pincodes. It would be worthwhile to see where Xiaomi takes this platform.
Focus on IoT and smart products
Earlier this month, Xiaomi said that it would invest RMB 10 billion in AIoT (AI + IoT, their words, not mine) over the next 5 years. Xiaomi claims that it has incubated and partnered with over 100 IoT and lifestyle companies, and has over 132 million connected devices, excluding phones and laptops. It also purchased 65 million shares of Chinese electronic company TCL Group, giving it a 0.48% equity stake in the company. Both the companies will work on development of smart products and electronic devices.
Developments, revenues and sales
- Xiaomi spun off Redmi as an independent brand
- In Q3 of 2018, Xiaomi’s international revenue accounted for 43.9% of its total revenue
- This year, the company will focus on expansion in the European and Latin America markets
- Earlier this month, the company said that it sold 100 million Mi power banks worldwide, its best-selling power bank was the 20,000mAh Mi Power Bank 2C.
- In the Diwali sales of 2018, Xiaomi sold 100,000 LED TVs, 400,000 Mi products and accessories and 2.5 million devices (including smartphones, LED TVs, Mi Band 3, power banks, earphones, routers and other accessories) etc through online platforms.
Our Xiaomi coverage.