Home > News content

Why meituan is not in a hurry to cash in?

via:博客园     time:2021/4/1 14:09:20     readed:139


By Jiang Xia

Source: slightly larger reference (ID: hyzibenlun)

However, meituan, which boosted the performance of its shareholders, suffered losses in its own Q4 financial report in 2020. Compared with the operating profit of 6.72 billion yuan in Q3, meituan directly lost 2.85 billion yuan in Q4.

What does this change mean for a platform with 510 million users?


Loss of 6 billion new business and meituan basic business

Let's look at the signals in the financial report. Meituan recently released its 2020 performance announcement, which seems to present a contradictory situation on the surface.

On the other hand, new businesses are burning money fiercely, and the ability to break up banknotes even exceeds market expectations. According to the financial report, the operating loss of Q4's new business reached 6 billion yuan. On the other hand, the loss in Q3 is only 2 billion. Meituan attributed the loss to the rapid expansion of meituan preferred and cycling businesses.

Meituan has always been willing to invest in new business. In April 2018, after the purchase of Moby bike with us $2.7 billion, a netizen calculated an account for meituan: the average daily loss of that month was 15 million yuan. In the year of acquisition, meituan lost a total of 4.55 billion yuan on bicycles, but even so, it increased investment in the business line the next year.

If the strategic focus of new business in 2018 and 2019 is in the field of travel represented by bicycle and online car hailing, by 2020, this key word will become retail. Whether it is travel or retail, the new business needs to continue to burn money, but meituan does not use the takeout business as an ATM; on the contrary, the takeout cash flow rate has remained low. According to financial report data, meituan's take out commission rate has dropped from 13.12% in Q1 of 2019 to 12.19%. Don't underestimate the decrease of nearly one percentage point, because in 2020, the number of meituan takeout orders will reach 10.15 billion. If you charge 1% less commission for each order, you can imagine the reduction of the overall commission income.

Recently, the Commission issue of take away platform has attracted public attention. In response to the issue of platform rate, Wang Xing, CEO of meituan, stressed that meituan not only provides platform transaction service, but also instant delivery service. The Commission includes two parts: transaction and performance, which is different from physical e-commerce. However, meituan will continue to keep the Commission within a reasonable range in the future to ensure regulatory compliance.


The subtext of this commitment is that meituan is not in a hurry to cash in at the moment, and will not fish out of the water.



From this perspective, meituan's retail is a bigger and broader concept than community group buying, and the core behind community group buying is actually a more sinking and faster physical e-commerce. In Wang Xing's eyes, the retail sector has the potential to continue to digitize and rebuild the entire retail industry chain. There is no single business model that can meet the retail needs of consumers nationwide. Therefore, meituan will continue to explore different business models for different markets. The process of integrating industry chain resources and building service system is also the only way for meituan to consolidate its dominant position in local life.


Platform value in retail ecology

The reason why a giant is called a giant is that in addition to the revenue scale, another important reference index is the influence on the whole industrial ecology and the final social value geometry.


In fact, providing employment is a very important channel for enterprises to fulfill their social responsibilities. For a large team of riders, there is no lack of care and assistance for the public reporting of the Sino US delegation. "Southern Weekend" once reported a special takeout site in Yanjiao. At most, more than 10 riders were the fathers of children with leukemia. It turns out that there is a special hospital nearby, where parents from all over the country focus on the treatment and follow-up rehabilitation of children. Many of them are heavily in debt in order to cure their children, and the takeout site near the hospital can not only provide flexible work opportunities for these people, but also help them apply for tens of thousands of yuan of special relief funds from meituan.

Of course, the social value created by meituan is much more than that. The larger the scale of service users means greater responsibility. From a series of practical actions, meituan is ready.

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments