Meituan Q2 Financial Report: offline entities catalyzed instant retail prosperity

Meituan recently released a 2022Q2 financial report. The annual active merchant scale of the platform reached 9.2 million, an increase of 1.5 million year -on -year, a record high.

The accelerated influx of offline physical retailers is the epitome of the prosperity and development of instant retail in the post -epidemic era. On the one hand, the huge and precise logistics system will set the shortest instant retail service to the minute level, increasingly attracting consumers who are sensitive to high -efficiency services.

On the other hand, the traffic facing offline physical stores is unstable and uncertain, so that retailers who are eager to recover and grow, take the lead in finding new opportunities online.

As a result, Meituan, which has the advantage in the long -term cultivation of local supply and has advantages in rapid connection to various offline retail entities, has naturally become a carrier for offline physical merchants to seek recovery and transformation. Especially with the steady recovery of the real economy, the relationship between Meituan and offline physical retail has been further deepened, and a new ecosystem of the real -time retail industry has been established.

01 From the perspective of the merchant, real -time retail: from options to just need

Early real -time retail, due to factors such as infrastructure and market demand, more of the offline physical retailers simply recognized as e -commerce channels. Although it can bring traffic, the value and quality of the channels have no native offline scenes. Come high, in a state of available or not.

What is not the past is that the fullness of facilities, supply, users, and scenes creates a better development foundation for instant retail, accompanied by epidemic disturbance, and the perception of offline entities is completely changing.

First, accelerate recovery in the post -epidemic era. In sharp contrast to offline scenes limited by traffic recovery, two typical characteristics of online scenes presents two typical characteristics: one is the steady growth of traffic, and the other is the stable release of demand.

For offline physical retailers, instant retail scenarios can not only undertake offline old customers (stocks), but also attract customers in the same city or region (incremental). When the overall demand recovers, the addition of instant retail can be able to Bring fresh incremental orders and recovery vitality to physical stores.

Second, the "cloud assistant" in the digital economy. Facing the future, digital transformation is the basis for qualitative changes in offline entities. Today, retail platforms such as Meituan deep -bound with entities, such as catering, wine travel, entertainment and other consumption. The offline store, the platform is a physical traffic channel, and is a comprehensive digital operating assistant.

Operating instant retail digital stores, offline physical retailers can get one -stop digital operation tools, better manage inventory, and manage future orders. Essence

Third, the fertile soil of brand building. Compared with offline scenes, the instant retail platform has more tolerant and advanced brand building capabilities, such as short video, live broadcast, dynamic pictures, etc. In addition, there are rich marketing tools.

With more standardized and personalized marketing, no matter what scale offline physical retailers, they can strengthen the brand power enhancement and upgrade, and radiate to offline scenes to form brand gravity.

During the epidemic situation in April and May this year, more merchants chose to go online at Meituan. Among them, there were many high -end catering merchants and high -star hotels. I have to say that for offline physical businesses, the layout of real -time retail in accordance with the changes in consumer demand is to lay out the future.

02 offline entity constitutes a basic disk of real -time retail

The offline entities that accelerate the influx of real -time retail platforms, under the general trend of recovery, are creating the development capacity of transcending the imagination space and promoting platforms and industries.

The Meituan Q2 financial report shows that the number of instant delivery transactions in a single quarter has exceeded 4.1 billion, and the average number of transactions per year of each transaction user has increased from 32.8 to 38.1; Commercial sectors have further increased to 36.8 billion yuan in quarterly revenue.

The real economy is in the stage of rapid rebound and recovery. The strong performance of Meituan's real -time retail performance is its epitome, which makes people see that offline entities have more explosive growth capacity.

Offline physical retail is very tough, and is the first driving force for driving instant retail platforms to grow against the trend.

Data from Meituan show that from January to July this year, the transaction volume of convenience stores and supermarkets on the Meituan platform increased by 54%year -on -year, of which couples increased by 110%. Small and medium -sized physical retail merchants present a regional layout pattern of capillaries, which is an important force for economic recovery.

The geographical distribution of community, and close -range, makes convenience stores and supermarket entity merchants, becomes the main beneficiary of the instant retail service system, and is selected by surrounding users. Therefore, when demand recovers, they are pioneers in the instant retail ecology, and they will also take the lead in undertaking demand to achieve rapid growth of online orders.

In addition, in order to adapt to real -time retail, a large number of offline physical retail is quickly operating, and the toughness is strong. For example, to introduce more diverse goods and package options, adopt more time -saving picking strategies, etc. Increase order.

The abundant supply of offline physical retail is the second -level driving force for the driving real -time retail platform.

Local offline entities have brought richer supply of goods to the platform. In terms of catering, more specialty merchants are online for takeaway services on Meituan. For example, during the epidemic, on May 1st, 473 catering merchants in Beijing applied to go online through green channels; Fast consumer goods and consumer e -merchants enter the instant retail service ecology of Meituan.

For more diverse commodity supply, on the one hand, it can meet high -frequency rigid needs, such as the demand for products such as daily necessities, fresh food and other products, and on the other hand, it can meet personalized needs, such as high -consuming users' demand for high -end catering foods. Under the impact of the epidemic, consumers' demand for instant retail has been further accelerated and enlarged, and local retailers who can provide rich supply are the undertaking parties of these new demand.

03 platform value: continuous construction of local supply

If offline physical retail is accelerating and driving the ecological growth of the real -time retail platform, then the instant retail platform will also gradually integrate the offline physical retail to create a strong nursery effect. In other words, with the increase of offline entities to expand the instant retail ecological scale and richness, the platform will stimulate more localized growth space.

The first is based on massive platform users to enrich SKU and brands, which means lower supply and demand matching costs and higher matching efficiency.

As of Q2, the annual transaction user scale of Meituan increased to 685 million. With such a scale, there are a lot of personalized demand. As the supply increases, the efficiency of platform matching products and demand will further improve, and costs will decrease. At the same time, offline entities can also obtain more target customers.

The second is based on multi -dimensional demand. The platform can catalyze more chain transactions as the same scene or similar regional offline physical retail merchants.

Today's Meituan can be bought almost all common products. The real -time retail platform is like a supermarket. Users can produce fresh and temporary needs when browsing. Increase order.

The third is to improve infrastructure, more offline physical retailers mean lower service costs.

Retail is an industry that first talks about experience, then talk about efficiency, and finally return to cost. When the performance capacity of instant delivery has gradually become a retail infrastructure, the efficiency, service capabilities and costs of local supply are important growth points for the future retail. By creating an incremental market for local physical retailers, improving efficiency through digitalization and scientific and technological capabilities, improving product quality and service levels, helping local retailers, local brands, and manufacturers improve the supply capacity and scale. The comprehensive cost of each single transaction will gradually decrease.

Generally speaking, offline entities create a rich local supply ecosystem, which is the basis for Meituan to reduce costs, efficiency, and increase in offline entities.

04 Real -time retail new normal: co -increasing symbiosis

As small as the husband and wife shop, as large as the supermarket and brand, the relationship between offline physical retailers and the Meituan is constantly being upgraded. More deeper binding and retail formats will push the entity and platform to coexistence together to create new instant retail new new retail new new retail new new retail new retail Condition.

On the one hand, offline entities no longer use platforms as simple traffic channels, but gradually cooperate with the platform in terms of data, technology, logistics and other aspects to strengthen the comprehensive service capabilities of real -time retail. Typical such as catering merchants use platform cloud services, or chain retailers access platform management systems.

On the other hand, the platform relies on a huge local physical supply to provide users with comprehensive and systematic instant retail services. A more representative trend is that buying a large piece, buying valuable items is no longer the patent of e -commerce, and it has become a reality in Meituan.

With the acceleration of instant retail penetration, the strength of the local supply infrastructure is the key to the coexistence of the same offline entity. According to the financial report, due to the accelerated layout and exploring retail infrastructure such as cold chain logistics and warehousing, the R & D expenditure of Meituan Q2 increased to 5.2 billion yuan, a year -on -year growth rate of 33%.

In the long run, the realization of all things must be supported by reliable infrastructure. The performance capacity of instant distribution composition is one of them. At this stage, it has gradually become the standard of the industry, but the performance is only the basic threshold. More critical is to provide back to the provision of provision Rich offline physical retailers for commodities. It can be said that offline physical retailers have determined the future space for instant retail.

It is foreseeable that with the expansion of the localized infrastructure system in the future, Meituan and local entities will build a more efficient social supply ecosystem and fully stimulate the long -term prosperity of real -time retail.

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