Last week, we released a compilation of venture insights from The Low Down here: https://bit.ly/TLD-venture
This week, we’ve compiled stories on Meituan, who started off as a Chinese Groupon. Today, Gorupon has retreated while Meituan has been hailed as a ‘super-app’. Examining the different approaches taken by Groupon and Meituan gives insight into what works, and what doesn’t.
Besides Groupon, in the early days, Meituan had to contend with many other group-buy sites that were just starting up. It is only by making a few painful moves in the short-term, that lead to their long-term success. They’re now heralded as a beacon of hope for delivery platforms, as they’ve managed to turnover profits.
There are many factors at play here, but a key driver could be the sheer volume they managed to attract. Organic, viral marketing could have had a hand in this, as their drivers have become a cultural phenomenon. However, a large part of this is intentional – it;s nothing short of good strategic planning and management.
WIth the key to their profitability being volume, they’ll continue to expand their business with the intention to grow their user base. This is evident in their recent move yet again to establish a foothold in the power bank sharing market.
Preview of compilation
Get full coverage of our insights on Meituan here: https://bit.ly/TLD-Meituan
Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at [email protected]