MUJI Products "To Curry Favor With" Chinese Consumers In The First Quarter Earnings Report Bright
Recently, Muji parent company released its first quarter earnings report, its performance was brilliant, and the earnings report was blunt.
market
"The result is probably related to China's" price reduction "and the expansion of channels.
Brilliant performance, continuous "price reduction"
MUJI 2018 Q1 main financial data screenshot
Recently, Muji parent company's good quality plan released its first quarter earnings in 2018.
According to the results, as of May 31, 2018, the income of good plan business increased 9.7% to 106 billion 521 million yen compared with the same period last year, operating profit increased 12.2% to 13 billion 319 million yen compared with the same period, and net profit rose 21.7% to 9 billion 542 million yen compared with the same period last year.
Earnings report shows that the revenue and profit growth of the good plan mainly comes from the reduction strategy and grocery sales. The new format MUJI HOTEL has also boosted its performance.
It is worth noting that these growth mainly comes from China.
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How Muji has captured the hearts of Chinese consumers?
In January this year, Muji announced that the company will launch the largest "new pricing" campaign in history, including 7 items, such as small business and imported food, which is one of several price cuts since Muji has entered China.
Since its entry into the Chinese market in 2005, Muji has been controversial because of its large price difference between Chinese and foreign goods.
In October 2014, Muji announced its first "new pricing" campaign, mainly targeting grocery stores, with an average price of over 17.5% of goods in over 100 categories.
In 2015, there were three consecutive price cuts, of which two were mainly for clothing and grocery categories.
The price reduction strategy will continue, and the spokesman for the good quality plan has predicted that it will be able to achieve the basic parity between China and Japan by 2018.
clothing
industry
Expert Cheng Weixiong also told China net financial reporter that Muji will continue to adjust prices in the future.
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