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Focus on quality-price ratio and provide diversified supply to meet user needs

Posted: Sun Dec 22, 2024 9:47 am
by Rina77RS
"This quarter, the local business market has further unleashed huge growth potential, and all of the company's businesses have achieved healthy growth," said Wang Xing, CEO of Meituan. "As a leading technology retail company, Meituan will continue to provide consumers with a more cost-effective and diversified product selection, more efficient instant delivery services, and firmly serve as a digital and intelligent helper for merchants, using technology to improve the efficiency of local businesses and help everyone eat better and live better."

In the second quarter, Meituan’s core local business achieved steady growth, with quarterly revenue reaching 60.7 billion yuan.

Meituan continues to optimize platform supply, with online country code philippines mobile shelf models and innovative products as dual drivers, to better meet the quality-price ratio needs of users in different price ranges. The average annual transaction frequency of annual transaction users has achieved continuous growth for 15 quarters since mid-2020.

The "God Membership" program, which integrates food, drink, entertainment and other services, started its pilot program this quarter and completed full coverage of various consumption scenarios in July. As of early July, the number of merchants participating in the "God Membership" program has reached 5 million.

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This quarter, Meituan Group Buying expanded to more high-quality and low-priced products and service categories. Stimulated by numerous holiday consumption and marketing activities in the second quarter, consumers' brand awareness of "Meituan Group Buying, many stores, and great savings" has been significantly strengthened. Among them, the GTV and order volume of leisure and entertainment products have achieved year-on-year growth.

Meituan Flash Purchase continued to expand its high-quality supply, and this quarter cooperated with more physical retail brands such as fast-moving consumer goods, clothing , alcohol and beverages, meeting the immediate needs of more consumers in different scenarios such as festivals, travel and camping activities. As a result, Meituan Flash Purchase once again achieved steady growth in the number of annual transaction users and the average annual transaction frequency. Among them, the innovative model of alcohol retail "Wai Ma Sending Wine" achieved strong GTV growth this quarter.