Ye Guofu: Miniso grew from 0 to 10 billion faster than Jack Ma, opening over a thousand stores in a single year at its peak

On the afternoon of October 22, Luo Yonghao released a new episode of his dialogue program, this time talking with Miniso founder Ye Guofu about trendy consumer goods and the story of "fat modification stores." He mentioned that Miniso's rapid development was due to hitting the market demand, as there was no such model in China at that time. He recalled that Miniso went from 0 to 10 billion in just five years, faster than Jack Ma's journey from 0 to 10 billion. At its peak, they opened over a thousand stores in one year, and the conversion rate for store visits was 30%, meaning that out of 100 people who entered, 30 made a purchase. "Does e-commerce have such a high conversion rate?" he said