Total revenues of Meituan increased by 17.7% year over year to RMB114.8 billion in 2020 from RMB97.5 billion in 2019. Its food delivery and in-store, hotel & travel segments achieved an aggregate operating profit by a segment of RMB11.0 billion in 2020, an increase from RMB9.8 billion in 2019.
Recently, Alibaba has set up an MMC business unit to focus on the community group buying business, integrating the community group buying business of Lingshoutong and Hema Jishi. The business group leader is a partner at Alibaba Dai Shan, who is the eleventh employee of Alibaba and also the president of Alibaba’s B2B business group. […]
Under the influence of COVID-19, China’s fast moving consumer goods (FMCG) sales increased by 0.5% in 2020, according to CTR. The home consumption scenario is still the theme of growth The e-commerce platform is committed to experience upgrading, and live streaming with products has entered the track of rational development Different retail formats build a […]
Social e-commerce is a segment that involves utilizing communication channels such as social networking websites, SNS, WeChat, Weibo, social media as well as the social interaction, user-generated content and other measures to facilitate the purchase and sales of products. Social networking elements as “like”, sharing, connection, discussion, interaction, and others are applied to the process […]
Many Chinese consumers have the impression that most users of Pinduoduo are housewives, middle-aged, or elderly people who live in third-tier or fourth-tier cities. They are highly consistent with users of Kuaishou and have extraordinary sensitivity to low price. They are more willing to ask people for help bargaining in WeChat group in order to […]
Founded in 2018, Shihuituan is a gourmet community e-commerce service platform. It focuses on fruits and vegetables as well as household items targeting the community as the entry point.
Ex-Googler and founder of Pinduoduo China’s social e-commerce player Pinduoduo updated its IPO prospectus previously filed with US Securities and Exchange Commission (SEC) on July 17, 2018. It plans to raise at best US$1.87 billion by offering 85.6 million American depositary shares (ADS). The price range is from US$16 to US$19 each. The founder, ex-Googler, […]
In Q3 2014, total transaction value of China group buying market was RMB22.96 billion (US$3.74 billion) with an increase of 43.6% quarter on quarter.
Since first half of 2013, China popular group buying websites like Nuomi.com, Meituan.com and 55tuan.com all expanded business in lower tier cities in China. Their market share now shows an increasing gap from other group buying websites who are still making efforts in tier-1 and tier-2 cities.
In 2013, total transaction value of China online food ordering market exceeded RMB50.26 billion ($8.18 billion) and it is estimated to reach RMB85.04 billion ($13.85 billion) in 2014 according to data from iiMedia Research.