In 1994, Miguel Lin arrived in Buenos Aires from the Chinese province of Fujian, at just 19 years old. He went to live with an uncle in the Saavedra neighborhood and, while completing his studies, began working in the trade. "You always start as an employee of an uncle or cousin," says Lin, who has absorbed the maxims of his peers: "You have to have affordable prices; the important thing isn't to earn a lot, but to have repeat customers; it's good to have a little bit of everything and control your expenses."
These phrases, put into practice, have enabled Chinese retailers to compete with large multinational chains and other retail channels.
According to a CCR study, 42% of consumers buy from Chinese retailers, 23% from hypermarkets, 15% from supermarkets, and the rest oscillate between the two. "Everyone, except the Chinese, aspires to double-digit profitability. And there's almost no variety in discount stores," says Calvete.
During the years of convertibility, Lin saved US$10,000 and opened email database his first store, in Saavedra. His relatives put together a collection to lend him the remaining US$30,000. "Your word is very important. Although there's no set deadline, the money will be returned no matter what," says Lin.
Business was going well, but there were too many in the area. He emigrated to Villa del Parque. "The nearest hypermarket is 20 blocks away, and the closest Chinese store is five. There's competition when we're less than three blocks away, so we're both doing well," he notes.
Today, at just 28 years old, he owns a 350-square-meter store on Cuenca and Tinogasta Streets. He rents it to a Galician who, at one time, also came to America.
At first, he outsourced the produce section, but no longer: "It's better to have everything integrated and under control," he says. All his employees are immediate family members, and brands like Coca-Cola, Pepsi, and Quilmes can be seen at the top of the shelves. "They give bonuses if you respect their space. And it's always the best place for sales," he says.