The Twilight of Meituan's Empire: Double-edged Attack from Douyin and Pre-made Dishes

Tech 2024-08-24 18:40:25 Source: Network

The Twilight of Meituan's Empire: Double-edged Attack from Douyin and Pre-made Dishes So, what are the core demands in catering? The demands on group purchase and delivery platforms are different for consumers. The biggest difference between group purchase and delivery lies in the consumption scenarios: group purchase is for offline dining, usually with at least two people, like couples, families, friends, colleagues, or for business dinners

The Twilight of Meituan's Empire: Double-edged Attack from Douyin and Pre-made Dishes

The Twilight of Meituan

You might think this is just a clickbait headline, but once I explain the reasons behind it, you'll understand that this is not an exaggeration. Let's first look at Meituan's main revenue streams. While Meituan offers a variety of services, the real backbone of its empire is catering, with all other sectors being mere side hustles. Meituan's catering business consists of two major segments: online group purchase for offline dining and online delivery for purely online consumption. This is where Meituan makes its profit, with other sectors either seeing slight growth or operating at a loss. Catering is the lifeblood of Meituan.

The Twilight of Meituan

So, what are the core demands in catering? The demands on group purchase and delivery platforms are different for consumers. The biggest difference between group purchase and delivery lies in the consumption scenarios: group purchase is for offline dining, usually with at least two people, like couples, families, friends, colleagues, or for business dinners. People typically have specific places in mind, compare and filter options online, and then check for deals. But delivery is primarily for individuals or couples. If you say a whole family, including grandparents and children, orders takeout, then you're being facetious. Your mom not cooking doesn't mean all parents do that. I'm talking about the main scenario, the majority, not all.

The Twilight of Meituan

Now, ask yourself, when you want to group purchase food, do you check Douyin for deals or Meituan? And now, more and more people are switching from Meituan to Douyin. Why? Because Douyin is more visual, with people even trying the food for you, showing you those mouthwatering visuals. Meituan, on the other hand, only has cold, static images online. And the discounts Meituan offers are no match for Douyin. Douyin currently has lower transaction fees, while Meituan takes a huge cut. Merchants get bigger profit margins and offer better deals when orders are placed through Douyin. That's why Meituan is pushing merchants to do live streams, but due to its inherent nature, it remains a purely consumption-based platform. If you want to make a purchase based on watching videos, anyone with a sound mind would go to Douyin.

The Twilight of Meituan

Let's now look at delivery. I'll show you a video I just captured on my phone. This delivery company is owned by Meituan, has been around for years, and is openly selling pre-made meal kits to Meituan merchants. More than 90% of the takeout you eat now is pre-made, just heat and eat. Don't blame the merchants for being unscrupulous, because they have no choice. The commission fees are too high, and they are under immense pressure to fulfill orders quickly, especially during peak hours. They have to cook and fry, which takes time and resources. It's not just the labor cost, time is simply not on their side. This is Meituan's solution for its merchants. Tell me, isn't this a dirty tactic? While Meituan promotes itself by saying it protects consumers, it's actually lulling you into a false sense of security. When push comes to shove, they show no mercy.

The Twilight of Meituan

This issue is already surfacing. I know you've seen this video, and you're telling your loved ones, and they're telling theirs, and eventually, all of China will know.

The Twilight of Meituan

Now I ask you, if takeout is unavoidable, why should I still eat from you? Meituan charges the merchants more, the merchants microwave it and charge me more, and I still have to pay for delivery? Can't I just buy pre-made meal kits directly? Look at these online meal kits, 50 yuan for ten packs. I'd have to wait and pay you a hefty profit for the same food on Meituan. Am I a fool?

The Twilight of Meituan

Therefore, facing the double-edged attack from Douyin and pre-made dishes, Meituan's market share will shrink dramatically, and its other businesses won't be able to support its entire empire.

Why do I say it won't last beyond 2027? Because we are in the era of short videos, where information spreads incredibly fast. However, due to the information overload, while society can access information quickly, the time it takes to process a complete piece of information and change habits is not short. After assessing the situation, I predict that the latest possible time for this to happen is before 2028. I'm using this video as proof.

Strike the snake where it hurts. This is the first blow I'm delivering to Meituan, and I hope everyone will join in and deal the final blow. Let's witness how much life this wicked creature still has left.

I recommend saving this video, as it might soon be reported and taken down. Please follow me, and let's hear some different perspectives.

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