Japanese retailer Miniso is said to be excelling in the Tanzanian market following its launch into the country in January this year, with the company stating that the ‘blue ocean’ nature of the country is giving it a competitive edge.
According to a company press release, the retailer is taking advantage of the ‘economic development and characteristics of the African and Tanzanian retail markets, the competitive advantages of brands and the objective evaluation of local consumers’ to push forward in the country, where it has seen two further store openings since its initial launch.
Speaking of the country’s recent recuperation from years of brand competition, Wallace Li, Director of MINISO Tanzania, said, “Competitors? MINISO has clear brand positioning, which caused a copycat wave in the local market to a certain extent. Africa is our blue ocean market, and we only have followers but not rivals.”
The company noted that due to the consumption in Africa becoming increasingly internationalized, as well as people’s purchasing behaviors changing and upgrading, there is increasing competition in the market.