MINISO's affordable plush toys and household items are presented to Gen Z shoppers with a $10 N' Under concept where cost-conscious design meets style-forward products. As Andrew Xie, General Manager of MINISO North America, says "The strong market response towards our $10 N' Under stores validates our strategy to cater to Gen Z who place a premium on value: they want trendy, quality products at an affordable price."
Lifestyle retailer MINISO recently opened the doors to its 5,000th store in Boston, Massachusetts, along with three more stores in California, Pennsylvania, and another Massachusetts city location on the same day. By the end of 2021, MINISO will have a presence in more than 100 locations in North America, and all of the stores in the region will be reworked under the $10 N' Under concept.
Youthful Lifestyle Retailers
MINISO's $10 N' Under Concept Targets Gen Z Shoppers
Trend Themes
1. Affordable Lifestyle Products - Retailers can target Gen Z shoppers with affordable, stylish household items as MINISO's $10 N' Under concept proves popular.
2. Value-driven Shopping - Gen Z consumers, who prioritize value and quality, can benefit from retailers offering trendy, affordable products.
3. Expansion of Retail Chains - As MINISO continues to expand its $10 N' Under concept to over 100 locations in North America, other retailers could consider similar expansion plans.
Industry Implications
1. Retail Industry - Retailers can innovate their products and stores by capitalizing on the popularity of the $10 N' Under concept and targeting Gen Z consumers.
2. Household Products Industry - Manufacturers could partner with retailers to produce affordable yet stylish household products that appeal to the value-driven mindset of Gen Z shoppers.
3. Toy Industry - The success of MINISO's affordable plush toys highlights an opportunity for toy manufacturers to produce trendy yet affordable products that appeal to Gen Z shoppers.