The third season of New Opportunities Overseas is focusing on new consumer trends. Let's explore how Chinese consumer brands are successfully captivating Southeast Asia's Generation Z.
At Bangkok's Siam Square, brands of Mixue Bingcheng, MINISO, and POP MART are a common sight. Recently, MINISO LAND's first overseas flagship store opened, and formed a strategic partnership with the Tourism Authority of Thailand. In the same period, CHAGEE launched its largest Malaysian store, which is included in city experience projects by Tourism Malaysia.
These moves mark a new strategic shift for Chinese brands going overseas: upgrading from simple product exports to a systematic overseas expansion integrating supply chains, culture, and lifestyles.
Chinese brands abound in downtown Bangkok
"We deliberately chose Siam Square for the flagship store," said Jun Wang, General Manager of MINISO THAILAND. Covering over 1,000 square meters, it reshapes the urban commercial landscape with global IPs and over 8,000 SKUs, creating a space for shopping and socializing.
POP MART's Siam Square store also draws crowds. Reports show that Thailand ranks first in sales among its 400 global stores. Art Toy has become a lifestyle in Thailand.
Southeast Asia emerges as a hotspot for new consumption
Southeast Asia is a key destination for China's new consumer brands. At MINISO LAND's opening, Robin Liu, MINISO's Vice President, said Thailand has strong market potential with a young population, high fashion, and IP acceptance. Policy dividends, friendly Sino-Thai relations, low operating costs, and similar cultural habits make Thailand a key expansion region.
CHAGEE's founder Zhang Junjie also highlighted Southeast Asia's advantages. He noted the high proportion of young people, high acceptance of new beverages, and international urban atmosphere.
Data shows that Southeast Asia has over 680 million people, with more than 70% being young and middle-aged, injecting vitality into the consumer market. A report confirms Chinese firms' robust performance in ASEAN, with 30% deriving over 20% of revenue from the region and over 60% profitable.
MINISO's store upgrades in Thailand have boosted customer traffic and sales, with some monthly sales reaching 8-10 times previous levels. CHAGEE, entering later, has opened 200 stores in Malaysia and seen a 77.4% year-on-year increase in overseas GMV.
From products to lifestyles and supply chains
Chinese brands have shifted from selling products to exporting cultural experiences and business models.
Mixue has narrowed the distance with Southeast Asian consumers through its catchy theme song and Snow King Mascot.
MINISO LAND introduces a novel IP collection store concept, with interest-driven consumption reshaping retail. Robin Liu stated MINISO is transforming into a global cultural brand with 100 million yuan invested in IP acquisition and development this year.
Mixue's deep localization includes a vast store network. As of September 2024, Indonesia has 2,667 Mixue stores. Its Indonesian team heavily employs locals, enhancing operations from management to supply chains. It has established localized warehousing and distribution in four countries.
Professor Chen Dingding concludes that tea culture and trendy toys connect with young people's lifestyles. Product exports entail integrating locally through hiring and culturally tailored marketing. Establishing local supply chains reduces costs and creates jobs, gaining local government support.
Reporter | Guo Chuhua
Photo | Nanfang Plus
Editor | Ouyang Yan, Hu Nan, James Campion, Shen He
