Meituan Live needs "Dong Yuhui".
Now, if you ask who is the hottest anchor, the name Dong Yuhui will definitely be mentioned.
In 2024, Dong Yuhui has rushed to the hot search many times, becoming the center of the topic, and constantly proving his ability to bring goods with his strength. It can be said that Dong Yuhui is a rare talent in the live broadcast industry.
In the live broadcast industry, the market is thirsty. No, not long ago, many live broadcast rooms of Jingdong frequently shouted, "Dong Yuhui is invited to come to Jingdong live broadcast". There is also market news that Jingdong has held many small-scale meetings to recruit Dong Yuhui and the possibility of future cooperation.
Source: Jingdong Health Procurement and Sales Live Room.
According to market analysts, Jingdong Live shouted Dong Yuhui, exposing Jingdong's traffic anxiety. JD.com's live broadcast business needs a top stream to attract heat and traffic and drive sales growth. In fact, the situation of JD Live is not an exceptionOn the other hand, Meituan, which is making efforts to broadcast live, also needs a head anchor like "Dong Yuhui" to make up for the shortcomings of the content ecology.
In 2023, the local living market will be fiercely competitive, Douyin is pressing step by step, and Meituan will increase its live broadcast business**. This year, Meituan's investment in the live broadcast business is obvious to all.
In March last year, Meituan Takeaway launched the marketing tool "God Sought-after" to promote merchants' products through live broadcasts, ** and **. In April, Meituan followed up to build a live broadcast room for the "Divine Coupon Festival", and clearly proposed to normalize the live broadcast, covering the core business sectors of local business such as takeaway, ** wine and tourism, and grocery shopping. In July, the fixed entrance of Meituan Live appeared on the homepage of the Meituan app, and you can click to enter the live broadcast room where you can see many businesses.
Meituan's live streaming business has achieved good growth. Previously, it was reported by the market that in July, when the first-level entrance of the live broadcast was just launched, the GMV of Meituan Live in a single month was about 5-600 million, with a month-on-month growth rate of 20%, but in August, it quickly reached 10-1.2 billion, and there were live broadcast rooms that exceeded 100 million one after another. By October, the monthly GMV exceeded 2 billion yuan.
Source: Explosive group live broadcast room.
It is worth mentioning that Meituan CEO Wang Xing also affirmed the role of live broadcasting, and said that Meituan's marketing expenses will further increase, "This is not only about the current competitive environment, but also can help us bring long-term profitability and growth." ”
In 2024, Meituan will continue to accelerate the deployment of its live streaming business. According to market sources, Meituan has released the latest incentive policy, from now until the end of February, service providers will report store broadcast activities (and merchants have had a certain amount of consumption in Meituan promotion), Meituan will give merchants 7 days of free brand shows. Judging from Meituan's actions, Meituan is encouraging more merchants to take the initiative to participate in live broadcast activities.
The live streaming business has indeed breathed new life into Meituan, but it is undeniableMeituan's live streaming business still has obvious shortcomings.
Meituan's live broadcast is undoubtedly embracing content, but it is still lacking in anchor resources and content ecology. The content of Meituan's live broadcast has not yet formed a relatively mature ecology, lacking head anchors such as **Li Jiaqi, Douyin Crazy Brother Yang, and Kuaishou Simba, the content is not rich enough, and there are no circle-breaking live broadcast cases.
This means that Meituan's live broadcast has been limited in terms of volume, popularity, and breadth of communication. For Meituan, this is quite a disadvantage in the competition. In contrast, Douyin occupies a natural advantage in content and traffic, and is "handy" in attracting users to consume.
So, how to make Meituan Live further break the circle and spread, and be seen and stayed by more users? Douyin has gained a lead in content, and Meituan needs to face the competitive advantage to make up for the shortcomings. For Meituan Live, the entire live broadcast industry has reached a stage of white-hot involution, and it needs to rely on top anchors to obtain traffic and popularity.
This is why Meituan Live needs "Dong Yuhui". Dong Yuhui here is actually a symbol, symbolizing the top anchors with goods. Cooperate with "Dong Yuhui" who has its own traffic and contentIt will become a shortcut for Meituan to make up for the shortcomings of live broadcasting. With the help of the appeal and influence of top anchors, Meituan Live may be able to achieve circle-breaking growth.
Meituan faces many challenges
2023 has passed, how is Meituan's development?
Let's take a look at the financial data first, Meituan has announced its financial report for the third quarter of 2023, which shows that Meituan achieved revenue of 764 in the quarter700 million, a year-on-year increase of 221%；Net profit 35900 million, a year-on-year increase of 1953%；Adjusted net profit of 572.7 billion yuan, a year-on-year increase of 624%。
Meituan's financial report Source: Meituan announcement.
After the release of the earnings report,Meituan's share price showed a downward trend。To a certain extent, the market value of a company can reflect investors' confidence in the company and brand recognition. According to market analysts, the sharp drop in Meituan's stock price means that this financial report has not been fully recognized by the market.
Overall, the performance of this financial report is not bad. However, if you look closely, Meituan's core local business has experienced a decline in operating profit due to subsidies. In other words, under the offensive of many competitors, Meituan is clearly under pressure, especially Douyin.
In the past year, Douyin and Meituan have played against each other, and it has become a hot topic in the market. According to the "2023 Annual Data Report" released by Douyin Life Service, the total transaction volume of Douyin Life Service Platform will increase by 256% in 2023, and the stores will cover a total of 370+ cities, compared with last year, the transaction volume of the platform will increase by 83%, and the transaction volume of the platform's live broadcast will increase by 5%.7 times. Living locally, Douyin is developing like a bamboo, alreadyIt has affected investors' confidence in Meituan
In addition, we can also see that Meituan's new business is still losing money. Affected by various factors, Meituan's performance in the capital market is not satisfactory.
Three years ago, Meituan's market capitalization was as high as 24 trillion, becoming the third largest Internet company in China by market capitalization, the scenery is unparalleled for a while. Time has passed, and on January 17 this year, Meituan fell below the issue price of HK$69 at the time of listing, causing heated discussions in the market. As you can see,Meituan does face a lot of challenges.
Wang Xing previously mentioned that the current stock price only reflects the value of a single business, "In the long run, I believe that the company's current stock price is still at an undervalued level, and will achieve greater growth and create greater value for users, and is considering promoting a repurchase plan worth $1 billion." ”
The stock price has fallen, and in order to boost market confidence, in January 2024, Meituan has carried out buybacks on multiple trading days. However, whether this move is effective or not depends on the long-term feedback from the market in the future. On February 5, 2024, Hong Kong stocks**, Meituan's stock price**285%, closed 65050 Hong Kong dollars shares, the latest market value to 373.7 billion yuan. From this point of view, Meituan still has a long way to go.
Meituan** Source: **Tong.
The war on local life has begun
In 2023, the local lifestyle market is highly competitive, and Meituan's local lifestyle market share will inevitably be eroded.
According to iResearch, the size of the local living market is expected to grow to 35 in 20253 trillion yuan. With trillions of market increments coupled with high-certainty consumer demand, one thing is for sureIn 2024, the market competition in the local living sector will become more and more intense
Not long ago, Xiaohongshu made another effort in the field of local life. It is understood that recently, Xiaohongshu updated the APP and added two first-level entrances near and during the Spring Festival in the top bar. According to market analysts, Xiaohongshu is taking advantage of the hot spot of the Spring Festival to promote further exploration of local life.
The big giants are eyeing the cake of local life, but for now, Meituan is still the big brother in this field. In order to strengthen its inherent advantages and achieve further progress, Meituan took the initiative to seek change and started to adjust its organizational structure.
Recently, Wang Xing released an internal letterAnnounced the restructuring of the company's organizational structureSpecifically, Meituan's platform, in-store, home-to-home, basic R&D and other businesses are in charge of Meituan's senior vice president Wang Puzhong; Dianping, SaaS, cycling, power bank and other businesses are in charge of Zhang Chuan, senior vice president of Meituan; UAV and overseas business reports are reported directly to CEO Wang Xing.
Wang Xing mentioned that the current internal and external challenges are full of various challenges, but at the same time, it is also an opportunity for the company to grow further. "I believe that we can pool our strength, improve efficiency, and better serve our customers. Let's do it together! ”
In general, the battle for the trillion-dollar market of local life is far from final. Meituan has seen the challenges ahead, and now that Meituan is seeking change and innovation, we may be able to expect Meituan to return to its high-speed growth and return to its peak state.
Author |Li Ying.