Recently, MiaoYin Culture, the operator of TMall Instrument Experience, has raised an angel investment by Zhejiang Yihui Assets, amount of finance unknown. This round of finance will be invested in programs such as improving customer services experience, and mobile app development, etc.
Miaoyin Culture was founded in 2017. In order to help the market sale of musical instrument, and to increase the quality of customers’ experience in purchasing musical instruments, Miaoyin Culture and TMall co-founded the Miaoyin-Tmall Musical Instrument Experience Museum.
So far the experience museum contains instruments from over 30 instrument labels including Hailun Piano, McAllen Piano, Nanfeng Zither，and Runyang Zheng. According to 36Kr News, Zhaoxi Xia, the founder of Miaoyin Culture, said that all instrument labels are tested and recommended by the National Light Industrial Instrument Quality Supervision Detection Center. Registered users can consult TMall for desired instruments and try out at an offline store before purchasing the instruments. At this point, Miaoyin Culture owns 12 offline chain stores in Beijing, Nanjing, Xi’an, Suzhou, Chongqing, and other cities, with all of them offering the tryout services. Other than that, users will receive a certain amount of free tryout lessons at the stores. Users who end up purchasing the instruments will be guaranteed with after-sale services such tuning, instrument repair and training lessons.
According to PEdaily News, TMall instrument tryout stores started operating in last March. Within the first three months of operation, the volume of business between settled merchants and Tmall has increased 146%, which has exceeded the average increase in the nation by 92%. The business flow in the offline experience stores is due to the guidance of online store and the expansion of offline stores.
Miaoyin culture is not the only musical instrument business company that completed finance recently. At the end of last year, Maide Magic, a musical instrument training service company, has announced its completion of series pre-A round finance of millions of dollars by Venture Capital. Maide Magic was founded in 2015 as an independent company of Funk, a drum set institute founded in 2006 with over 300 locations for children aged 4-12.
In order to achieve the goal of a business regulation, Maide Magic launched the first generation intelligent teaching robot “Xiao Mai Jun”. The product is configured with intelligent drumsticks that record data of dynamics, speed and rhythm of the students’ drum practicing, and design personal training plans accordingly. All training courses are designed to incorporate games to make students more interested in practicing and learning.
According to the China Musical Instrument Association (CMIC), the number of people purchasing musical instruments is rising each year. Therefore, the market for musical instruments is expanding to suit the rising needs of musical instruments. Traditional musical instrumental retailers and training institutes are seeking business model transformation to break the bottleneck of this industry. Due to the rapid development of artificial intelligence, the definition of musical instrument has shifted from physical to digital as well. However, no matter what types of retail or training instruments that appear on the market, they all need to pass the test to be further promoted in the market including Miaoyin Culture’s O2O omnichannel retailing model and the intelligent instruments from Maide Magic.
Translated by Paris Wu
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