# Miniso shifts 30% of new stores from malls to big-box adjacencies, anchored by owned IP

*The Chinese variety retailer is betting that proprietary characters drive traffic better than mall foot traffic drives sales.*

By **Jenny Huang Goodman MPA MSc MHSA, Principal** — The Stash Edge, Hako Shikin LLC.
Published 2026-06-23.

Canonical: https://www.pops4.com/stash/articles/miniso-2026-06-23t21-3
Subject: Miniso
Tags: retail location strategy, owned ip, anchor adjacency, traffic borrowing, format shift, repeat visit mechanics

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Miniso is moving its US expansion out of malls and into standalone locations next to Walmart, Target, and Ulta, according to Modern Retail. The shift is not cosmetic. The brand is betting that owned intellectual property—licensed characters it controls and merchandises—will pull customers to side-lot locations where rent is lower and format flexibility is higher. The company is opening larger-format stores in these anchor-adjacent sites and phasing down its reliance on enclosed mall traffic, which has declined in reliability since the pandemic.

The mechanics are straightforward. Miniso selects sites in the same shopping center as a big-box anchor, often within sight of the main entrance. The stores run larger than the mall kiosks, with room for experiential zones built around proprietary characters the brand owns or co-develops. Modern Retail reports that owned IP now anchors the in-store experience, replacing the earlier model of undifferentiated variety goods competing on price and novelty. The brand is treating these characters as the hero, not the container.

This works because the anchor does the heavy lifting on traffic generation, and Miniso captures the overflow without paying enclosed-mall rents or dealing with co-tenancy clauses that collapse when department stores close. Big-box shoppers are already in a buying mindset, often with families, and a **5,000-7,000 square foot** side-lot store with visible IP offers a low-friction add-on visit. The owned characters create a reason to return that generic variety goods cannot. A parent who bought a blind-box figure on impulse becomes a repeat visitor when the next series drops. The IP creates the appointment; the anchor creates the traffic.

The second advantage is format control. Mall leases constrain fixturing, hours, and sometimes even product assortment. A standalone or strip-center lease lets Miniso build photo zones, product launch events, and seasonal takeovers that turn a transaction into content. The brand is not competing with twenty other retailers in a hallway. It is the only toy-adjacent, gift-forward stop in that center, and it controls the entire customer journey from parking lot to checkout.

For a small physical-product brand, the steal is to position next to traffic you cannot afford to generate yourself, then use owned or exclusive product to justify the trip. If you sell kitchen tools, test a pop-up or short-term lease in a strip center anchored by a grocery chain, not in a standalone storefront on a side street. If you sell pet accessories, position near a PetSmart or a big-box with a grocery component. The anchor pays for the billboard, the parking, and the traffic generation. You pay for **400-800 square feet** and a reason to walk over.

The product must be differentiated enough that a customer cannot substitute it at the anchor. Miniso uses owned IP. A kitchen brand might use a proprietary design language, a limited colorway, or a collaboration with a known chef that the anchor does not carry. The test is simple: if the anchor added your category tomorrow, would your customer still cross the parking lot? If the answer is no, the product is not differentiated enough to justify the rent.

The format also de-risks landlord negotiations. Anchor-adjacent spaces often sit vacant because they are too small for national chains and too risky for undercapitalized local retailers. A brand that can demonstrate pull—via owned product that generates repeat visits—has leverage. Start with a short-term lease, prove traffic, then negotiate favorable terms on renewal or expansion. Miniso is not betting on mall recovery. It is betting on owned product in borrowed traffic lanes.

## The takeaway

Position next to traffic you cannot afford to generate, then use proprietary product to justify the detour and build repeat visits.

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## Publisher

**Hako Shikin LLC** — Virginia Beach, Virginia. Founded 1997. ASI 217876 · DUNS 18-204-6339.
Principal and author: **Jenny Huang Goodman MPA MSc MHSA**.

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