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Leading food delivery group Meituan reported a first-quarter net profit of 10.9 billion yuan ($1.52 billion), up 46% from 5.2 billion yuan in the same period a year ago, while e-commerce giant Alibaba has passed 40 million daily orders within a month of launching a similar service.
Meituan and JD rose more than 20% in Hong Kong trading across Thursday and Friday, marking each firm’s best two-day performance since 2022, while Alibaba rose as much as 15% over the period.
Taobao is a Chinese online shopping platform owned by Alibaba Group, offering consumer-to-consumer (C2C) and business-to-consumer (B2C) retail services. What is Meituan? Meituan is a Chinese platform that started as a group buying site and expanded into a comprehensive lifestyle services platform, offering food delivery, hotel bookings, and more.
In just a few months, JD, China’s largest online retailer by revenue, amassed 25 million daily takeout orders across 350 cities, capturing more than half the volume of Alibaba Group Holding...
Alibaba owns the South China Morning Post. Leiphone reported the numbers based on “exclusively obtained” Meituan data. The delivery giant, founded by entrepreneur Wang Xing in 2010, has not ...
Such a sizeable market with an appealing growth outlook has spurred fierce competition among the country’s retail giants. Jingdong ( JD ), famous for online retail and logistics, entered the business in February, seeking a slice of the market dominated by Meituan ( with over 65% share of the food delivery business as of 2024 ) and Alibaba’s Ele.me.
How JD.com is taking on China's food-delivery duopoly with viral stunts, low commissions, and deep discounts, prompting Meituan and Alibaba's Ele.me to respond — One unusually warm evening in April, Richard Liu revved his scooter through Beijing's traffic-snarled streets alongside other delivery workers …
Meituan, the Chinese on-demand delivery giant, continues to dominate the food delivery sector with a robust 70% market share, as daily orders soared to 90 million this month. According to a report by Leiphone.com , this achievement underscores the challenges faced by competitors JD.com and Alibaba 's Ele.me in shifting consumer preferences ...
How did Meituan stand out in the fierce competition and become the top 3 listed Internet companies in China by market value? This case study will explore Meituan’s market strategy and analyze how it applies private traffic and AI innovations to reach consumers and facilitate brand growth.
Another challenge could come from regulators, with China's State Administration for Market Regulation recently drafting new guidelines about how platforms such as Meituan, JD.com and Alibaba ...