Borrowing the iPhone Dongfeng, Meituan is called Ban Jingdong

Apple's new machine was released, and once again played the corner field of the Internet platform. The heavy players who are particularly noteworthy this time are Meituan.

As early as the Apple conference on September 8, Meituan followed the announcement of "Buying the iPhone 14 in the fastest half an hour to send the iPhone 14", and compared with the iPhone 13 series of stocks one hour from last year, beauty can be delivered. The number of Apple authorized stores covered by the delegation has increased more than doubled to 1,100, and the "12 -issue interest -free" service has been added.

As a hard currency, the iPhone once played the hardest ice breaking boat to expand the new business, and tried it repeatedly. Pinduoduo's tens of billions of subsidies, borrowing dealers to introduce the latest Apple products, gradually established the mind of Pinduoduo to buy brand goods. Meituan's intention to establish its 3C mentality in the real -time retail field is even more obvious.

According to the data obtained from the US Group 20, as of September 16, the iPhone 14 sale on the 14th at 11 noon, iPhone 14 has increased by nearly three times the iPhone 13 orders last year. Essence Three days before the iPhone 14, the sales transaction volume doubled year -on -year iPhone 13.

Compared with the data war report of JD.com, the iPhone 14 series has exceeded 200 million yuan as of 14:00, and Meituan has not announced specific sales. The volume gap between the two is conceivable. In the field of real -time retail, JD.com is stepping up the capacity of Dada, while Meituan has accelerated the expansion of categories, increased the business, and marching towards each other's advantages. With its capacity for the same city, Meituan has touched Jingdong's core business.

3C is an opportunity for Meituan. In recent quarters, the mourning mobile phone industry has also been very motivated to expand new channels and new needs. In the first quarter of this year, Meituan also reached a full line of cooperation with Xiaomi House.

For Meituan, which has further deployed real -time retail this year, the iPhone flash delivery is added to improve the 3C -related services. It is a obvious and attack -type chess in one step. The price rising touched the price water level of thousands of yuan.

20 Society mentioned in "Meituan must do a good job of e -commerce" that "reuse" is the importance of Meituan business. Some actions of Meituan in the past two quarters are confirming the previous analysis of the 20th Society. Judging from the large adjustment of the business sector in the latest season, the flash purchase is upgraded from the new business and entered the newly established "core local business". Its business logic and profit model are similar to takeaway. The three elements are constituted, and they can share riding resources on time.

This quarter's financial report was also generally regarded as the pinnacle of flash buying. The Meituan turned from the obsession with community group purchase to the high -rise of flash purchase business. However, different from the cost of the Meituan preferred bleeding expansion, the cost of expansion of the flash purchase business is lower, and the brand's mind of Meituan in takeaway is also easy to radiate to the flash purchase business.

In short, Meituan has a lot of first -mover advantages in the field of real -time retail. But this advantage is rapidly narrowing.

Takeaway to buy iphone?

The speed of the plasma, showing the muscles of the platform, has used to be a key link in the Double Eleven competition. In this time of the release of Apple's new machine, Meituan even sent a drone in order to take a record of the appointment and even sent the iPhone 14 single delivery record of 5 minutes and 56 seconds.

From the above data, the sales of iPhone and other 3C products on Meituan have increased significantly. According to Meituan, from January to August this year, the sales volume of Meituan takeaway mobile phones increased by 8 times year-on-year. However, in addition to catering, it is not easy to establish new categories such as 3C and clothing.

The 20th Agency query the Meituan APP found that when searching for the iPhone, there will be a proper page. Similar to the Apple Product Zone set up by Pinduoduo 10 billion subsidies, users can choose according to the store or product category.

Entering the store page, the price of the new product of the same specifications is equal to the self -operated price of Jingdong. Meituan also has different models with Apple Care optional packages. However, compared to the richer components provided by JD.com, more segmented and personalized after -sales services such as warranty, only replacement, extended warranty, comprehensive warranty, etc., Meituan looks simple in the after -sales service, and relies on Apple stores to bring its own self -containing self -containing stores. Services.

Similar to JD.com's self -employed by JD.com, it provides installment payment by JD.com. Meituan provides financial services by Meituan Monthly Monthly Payment for the 12 -stage interest -free installment provided by the 14 series of new machines this time. High -unit products can also be used to drive data from their own financial services.

As of press time, the number of historical orders in the Meituan of the Apple authorized store in the Meituan is 5,100, of which iPhone 14 5G has sold 35, iPhone 14 Pro Max sales 52, iPhone 14 Pro sales 87.

Click on the comments, you can find that consumers placing an order in the Meituan Apple Store are mainly chargers and other accessories. The highest sales of stores are headphones (priced at 149 yuan) of the Lightning interface (priced at 149 yuan) and 20 W power charging heads (priced at 149 yuan), with 850 and 750 single transactions, respectively. These consumer behaviors have obvious characteristics of low decision -making thresholds, temporary, and instantaneous. As for the larger 3C products, the decision -making process is more rational and requires higher reputation and service standards for the platform. Click on the Apple Authorized Store World Trade Sky Store. Because it is a new store in the store, the number of historical orders is only 138. The new machine is selling SKU only iPhone 14 5G, and the number of sales parts is 5.

The offline passenger flow, especially the strong Sanlitun shop, did not settle in Meituan.

It can be seen that when Meituan uses the iPhone to hit 3C's mind, it has no intention to use subsidies to attract users with subsidies. There are many coupons on the homepage of the Apple authorized store, but the scope of application is limited to products released in 2021 and 2020 -this is almost the same as the preferential intensity of other platforms, and is at the same competitive water level.

Taken together, the advantage of Meituan's 3C category is that the store guarantees the source of the supply and the distribution efficiency; the disadvantage is that the natural growth of the most basic 3C services is needed to cultivate the consumption habits of users. Essence If the flash purchase business still adheres to the platform positioning, then the investment of Meituan's service in 3C after sale may not increase too much.

The core is "reuse"

From the perspective of the financial report of the Meituan, the take -off of instant retail is at the cost of atrophy at the store and wine travel. Meituan CFO Chen Shaohui previously stated at the financial report that the flash purchase business was affected by the epidemic, far smaller than the takeaway business. It is undeniable that epidemic control blocks some of the original consumer links and ripes instant retail. In 2020, similar stories also occurred in community group purchase.

When the giants gradually let go of their obsession with community group purchase and began to gather under the banner of "real -time retail", the vigilance of bubbles was necessary.

Looking back at Meituan's investment in community group purchase, it is a try of new categories such as Meituan, and it is also an attack on the so -called sinking market that is difficult to touch Meituan. But a big pain point is that its cost investment and the market are equivalent to a flying land, and it is difficult to copy the previous high -frequency low -frequency path.

On this battlefield, the price paid by Meituan is extremely high -the loss of about two years will be tens of billions of billions; the results will have some deviations from expectations -Wang Xing once said, "In the next few years, Meituan's preferred business is expected to reach 3 -400 million new users ", if it is expected to be a US group, it will become a 1 billion -level national -level application than Taobao and WeChat.

In the aspects of the physical supply chain, logistics infrastructure, etc., the heavy investment has indeed made Meituan preferably nearly 60 million newly drawn for two consecutive quarters, but it is difficult for new users to be effectively diversified into users of the cash flow business of Meituan. Essence Meituan users increased by 35.2%(about 180 million) in 2021, but catering takeaway users increased by only 13%year -on -year.

Although in terms of product form, Meituan brings out takeaway, wine travel, store, travel, and other businesses at the entrance of a super app, but there is a mutually exclusive to buy vegetables and order. Second, from the perspective of business attributes, Meituan has paid huge costs to build a business-takeaway infrastructure, and the goods-warehouse-community-community self-mentioned infrastructure. Has sinking to the town and village.

I bought more food and burned less money, reaching the same single volume as Meituan. Pinduoduo's agricultural resources and platforms of the previous e -commerce companies and platforms in the sinking market have brought the cross -synergy brought by the foundation base of the sinking market, which reduces a lot of costs.

In the field of real -time retail, compared with the most powerful competitors JD.com, the location of Meituan in community group purchase has changed here, which has become the one that is more cost -effective. At present, Meituan's investment in the flash purchase business is very restrained compared to community group purchase. The hair loss of Meituan Q2 logistics distribution directly reduced the scale of 35, 25, and 4 billion in the previous quarter to 1.2 billion. The direct reason was that the distribution subsidy was significantly reduced.

There is an important logic that Meituan has sufficient "system redundancy" to reuse the star business of the latest quarter financial report -flash purchase.

As of the end of 2021, Meituan had a total of 5.27 million riders, and the cost of rider accounted for 71%of the total takeaway revenue. The flash purchase time that places the order is more decentralized. It can increase the frequency of delivery outside the peak of the delivery at noon and evening, so that the single volume-higher income of the rider, the order density is greater, and theoretically improve the efficiency of a single order. Single cost cost. The cost of JD-Dada's rider is mainly borne by instant retail.

Of course, the total order volume and GMV of Meituan will increase, and the value of the platform increases. According to the performance data disclosed in the second quarter, the average daily single volume of the flash purchase in this quarter was 4.3 million, a year -on -year increase of 44%. The unit price of flash buyers was more than 80 yuan higher than the takeaway.

Another point of reuse lies in business flow. The 20th agency has previously proposed that e -commerce is expected to play a clue of lubrication, opening up the Meituan community group purchase and takeaway infrastructure. Earlier, the huge losses of Meituan were not gone after burning. It brought not only real new users, but also the accumulation of merchant resources, commodity management capabilities, and warehousing performance. cooperation. According to the Eleven Finance, Meituan e -commerce business has recently merged with Meituan's preferably. After the new CEO Liu Xiaogang arrived, the group's good goods abandoned the sinking market positioning and instead targeting boutique e -commerce. According to 36 氪, the GMV of the group was nearly three times the year -on -year, and it was expected to complete the annual goal of 800 million in advance.

Wang Xing shouted for more than a year, Yangmou has been paved to complete -from serving e -commerce to physical e -commerce.

Meituan real -time retail has the first -mover advantage, but it is shrinking

If the real -time retail is stretched out, it is a very high -degree direction.

On the one hand, the needs of specific scenes have begun to grow into large -scale needs. For example, affected by the epidemic, people need to buy food department stores online; they are cultivated by innovative formats such as front warehouses, and they are willing to spend money to buy time and services; some emergency needs, or specific categories such as medicines find this solution for instant delivery ... Mowing

On the one hand, it is the stage of industrial development, and it will start to match this demand better and better. Now the inventory of offline merchants has gradually realized online, and the epidemic has accelerated this process. Online and offline channels are not who overwhelm, but gradually start to integrate. Local demand can better connect and tap local supply through online platforms.

However, the success or failure must be stretched to see.

Meituan has an annual active user with a rider who is arrogant to travel with each other and hundreds of millions of years to develop the instant consumption habits of takeaway. This is also the fulcrum of the flash purchase business. The difficulty of instant retail efforts is much lower than the Meituan preferred. When the instant distribution system created by Meituan, after meeting the needs of its own takeaway peaks, the potential of these distribution forces can be used as a urban infrastructure and provided them to other local businesses. The cost of this service is cheaper than self -delivery.

Instant logistics and performance are the unquestionable first -mover advantages of Meituan's instant retail. For Meituan, instant retail is an incremental icing on the cake.

The disadvantage of Meituan lies in business flow. In addition to catering, other commodities such as grain, oil, food, clothing, shoes and hats, home appliance audiovisual equipment, daily necessities and other fields, Meituan's supply chain accumulation does not dominate compared to JD.com, Ali and other platforms. In particular, the consumption of the 3C high customer order such as the iPhone is a problem for Meituan to break up.

In the process of docking local needs and local merchants, the role of Meituan is still a platform. At present, in the competition of instant retail, it mainly includes O2O platform types, front warehouses, and warehouses. In the future, the instant retail competition is not only the timely performance of the contract, but also the richness, stability and sustainability of the product supply.

It is worth noting that, in addition to playing the role of the platform to explore the local supply, Meituan is using the "lightning warehouse" to make up for the lack of goods. As the name suggests, this is similar to buying food in Meituan, but the category focuses on the front warehouse model of fast -moving consumer goods and daily department stores. As of June 2022, Meituan's lightning warehouse project has expanded to more than 100 cities and has more than 1,000 warehouses.

According to the survey of Tianfeng Securities, the lightning warehouse SKU designed by Meituan for the merchant for the merchant is twice as more than traditional convenience stores in the 3000-5000 range. The cost is reduced. Non -offline shopping scenarios+ digital upgrades have brought a decline in rent and labor costs. After deducting performance costs, the net profit ratio and absolute value will be higher.

The layout of Meituan in real -time retail began to be distributed and extended up to warehousing.

At present, JD.com, which is also high in the field of real -time retail, is from its rich merchant resources to plus the performance.

今年以来，京东一方面进一步加大了线下门店的布局，从大家居门店、京东电脑数码专卖店、京东小店到京东Mall 线下商场，把其线上的商家资源落地到本地零售，为Instant retail provides its advantageous supply chain support.

On the other hand, JD.com increased holding Holdings Dada, turning this former burden into an important strategic layout of instant delivery. Although the 1.3 million people are not as good as the RV size of the Meituan 5.2 million riders, they cannot be underestimated. In 618 this year, Dada's "hour purchase" covered 27,000 brands and 34,000 physical stores to provide instant delivery services.

Jingdong and Meituan are regarded as the hinterland of the other party. In addition, there are also influential existences on the battlefield of instant retail, which are Ali, bytes, Pinduoduo, and SF.

We cannot assert who will achieve greater success. But if the Meituan, who is sitting in such an advantage, loses the position of the front row, it will be surprising.

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