China Times (www.chinatimes.net.cn) reporter Lu Xiao reported from Beijing
"In the next five years, instant home service will become the mainstream consumption mode, and the scale of the instant retail market is expected to reach 1 trillion yuan, and the scale of transaction users will reach 500 million." On September 8, Wang Puzhong, senior vice president of Meituan and president of the Home Business Group, made such a judgment at the "2021 Meituan Flash Sale Digital Retail Conference".
He said on the same day that part of the 1 trillion yuan was the KPI of the Meituan flash sale. Xiao Kun, head of Meituan Flash Sale, elaborated on this KPI more specifically: In the size of the 1 trillion yuan instant retail market, Meituan Flash Sale will account for 400 billion yuan.
This appears to be a goal that still needs to be worked on. Wang Puzhong listed a set of data on the same day, meituan from October 11, 2013 began the first takeaway, to June 7 this year has reached 50 million orders a day, of which "the main body is catering, but not just catering." ”
Meituan Flash Sale focuses on non-catering business. According to the "China Times" reporter, in July 2018, Meituan packaged non-catering businesses such as fresh food, snacks, and green plants to launch flash sale brands, and shared the delivery network with Meituan takeaway, and its category has also expanded to beauty, 3C electronic products, etc.
For the scale of meituan's flash purchase business, Xiao Kun revealed at the above conference that this year's Qixi Meituan flash sale reached a peak of 6.5 million orders in a single day. Based on the above-mentioned Meituan 50 million takeaway orders per day, flash orders account for about 10% of Meituan's takeaway.
Closely related to the order data, meituan flash sale has more than 500,000 retail stores, as well as more than 400 convenience stores. Xiao Kun revealed on the same day that these convenience stores can provide 2000-5000 SKUs, and the average daily transaction volume of the stores reaches 14,000 yuan.
In addition, in terms of brands, Meituan Flash Sale also announced that it will help 100 brands to achieve the goal of exceeding one billion yuan in transaction volume on its platform in the next 5 years. "Brands seen offline will be seen on flash sale, including SKP, which we are now promoting." Xiao Kun said.
Behind the high-profile goal of Meituan Flash Sale, the epidemic has accelerated the digital upgrading of offline retail channels. Wang Puzhong believed on the same day that the Internet retail market is changing from "Everything Store" to "Everything Now" Zeng Shufen, partner of enterprise management consulting business of Kantar Group, also said: "From the perspective of the sales of the entire O2O channel, the instant retail sector, which is mainly based on fresh fruits and vegetables, FMCG and pharmaceuticals, has increased by more than 70% this year. ”
The growth of the instant retail market is also reflected in Meituan's second quarter 2021 financial report released on August 30.
According to the financial report, the revenue of the current MEituan increased by 77% year-on-year to 43.8 billion yuan. Among them, the revenue of catering takeaway is still the largest, with revenue of 23.12 billion yuan increasing by 59% year-on-year. However, new businesses, including flash purchases and bicycles, surpassed the hotel to become meituan's second largest source of revenue, with revenue of 12.032 billion yuan increasing by 113.6% year-on-year. However, the new business is also an important reason for Meituan's net loss of 3.356 billion yuan in the current single quarter.
Chen Shaohui, CFO of Meituan, also said in the conference call after the earnings report that in the next few quarters, Meituan will continue to strengthen cooperation with local supermarkets, convenience stores, flower shops and pharmacies to continue to enhance user stickiness. "I think the order size of meituan flash sale will exceed 10 million, and when we achieve scale, we can achieve profitability."
However, in the instant retail market, not only ali, JD.com and other retail giants have already entered the market, but also daily excellent fresh and Dingdong shopping have also been listed in the United States. Among them, the financial report released by Dada Group on September 8 shows that as of now, its JD.com has cooperated with 80 of the top 100 chain merchants, of which the top 10 have cooperated with 9.
Some insiders analyzed the "China Times" reporter that compared with the competitors of Jingdong Dajia and the instant retail tracks such as Hema and Dingdong, Meituan has accumulated relatively short time in terms of upstream supermarket channel integration and retail supply chain system construction.
However, it should be mentioned that meituan flash sale proposed the "100 cities and 100 stores action" for chain supermarkets on September 8. Wang Puzhong also said on the same day: "We hope to become the most trustworthy partner in the traditional channel online." ”