2024.0411

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introduction：聚焦创新应对挑战。

** Author| ** First Finance and Economics Lu Hanzhi

Meituan's store-to-home organizational structure adjustment continues.
On April 11, Meituan Takeout announced a new round of organizational adjustments via internal email:Under the Takeout Business Department, the Urban Operation Business Department was established, with Huang Xiaoqin as the person in charge; the Chain Business Department was established, with Li Jiayi as the person in charge; the Supply Exploration Department was established, and Chu Zheng was appointed as the person in charge. The above persons in charge all reported to Xue Bing, head of the takeout business department. At the same time, Wu Min will continue to be the person in charge of the campus business department of the former direct sales department, reporting to Xue Bing, general manager of Meituan Takeout. Appointed Wang Guanjie as the person in charge of the Chaser and reported to Xue Bing. Mao Huining was appointed as the head of the takeout user growth and operations department, reporting to Zhou Mo, head of the user growth and operations department of Meituan platform on the solid line, and to Xue Bing on the dotted line. Wang Shiyu was transferred to overseas business and appointed Sun Mujie as the head of the Business Planning Department of the Takeout Division, reporting to Xue Bing.
This adjustment is a further deepening of Meituan's core local commercial business structure adjustment since the beginning of this year. The newly appointed core management team of the Takeout Division is all young managers who have been trained and grown up from the front line of business within Meituan.
In addition to the rejuvenation of personnel, the adjusted structure is flatter than before, and the core team is closer to the front line. Relevant personnel of Meituan said that before the take-out business department had a direct sales business department, which was divided into chain business, campus business, etc. Now the intermediate direct sales business department has been directly cancelled. From the perspective of organizational decision-making efficiency, It is more conducive to timely capturing changes in the needs of users and merchants and quickly making business innovations.
In addition to structural adjustments, Meituan has also launched new business developments this year to deepen its moat in the takeout business. For example, on April 8, Meituan launched the "Brand Satellite Store" 10,000-store commission rebate plan, providing merchants with 6 months of commission rebates, more than 100 million yuan in traffic support, and free AI site selection, product selection, and precise marketing services.

Since the beginning of this year, Meituan has continued to seek change. On February 2, Meituan CEO Wang Xing released an internal email announcing the new organizational structure adjustment. Meituan has integrated a number of core local business-related businesses and further prioritized technology and international-related businesses. In terms of core local businesses, Meituan has integrated its previously relatively independent business groups.
Meituan has further integrated its local core business because it has suffered a considerable impact from external competition. Since last year, Meituan has been challenged by multiple platforms in its local business, and its share price has continued to decline. Since February, Meituan's share price has continued to rise. On April 11, Meituan's share price rose more than 1.16% to HK$105, up more than 50% from the low price in February this year.
From the perspective of external competition, Meituan is currently facing competition in in-store catering, wine tourism, etc. According to the "2023 Douyin Life Service Annual Data Report", in 2023, the number of settled service providers will increase by 1.79 times, the number of merchants cooperating with service providers will increase nearly twice, and the total transaction volume of service providers will increase nearly 8 times. In addition, Daren inspection stores helped physical businesses increase their income by 94.6 billion yuan. In the field of take-out, at the end of last year, there was news that Douyin take-out was shrinking the market, and Douyin take-out only retained 5 cities to continue to try the business. In addition, in February this year, it was once again reported that the Douyin takeout business had shifted from local life to e-commerce business and merged with the hourly business.
On March 21, at the Quick Hand Local Life Cohesion Conference, Xiao Gu, senior vice president of Quick Hand and head of the local life business department, said that in 2024, Quick Hand will launch a billion-level platform subsidy and 100 billion traffic to create a service retail online Consumption of new outlets and new quantities.
From the perspective of merchants, each platform has its own advantages. A hotel merchant in Henan told First Finance that his hotel did not choose to launch on Douyin, but on Meituan. On the one hand, because Douyin's hotel group buying business is complex, he was worried that it would not be able to serve consumers well."Douyin can't make it a specific day to buy a hotel. Customers want to book today's room after group buying, but maybe we are full, and customers will have a bad experience after coming." The merchant believes that Douyin's idea is to bring goods. For merchants with a fixed number of rooms, they cannot cancel all orders even if they have too many orders. On the other hand, the above-mentioned merchants said that Douyin's commission is higher than Meituan."Douyin's commission is 15%, and Meituan's new merchants are 10%, which may rise to 12% in the future."
For other categories of merchants, Douyin is a good choice. A person in charge of the Hanfu Experience Store told First Finance that compared with Douyin, the Hanfu Store on Meituan will charge platform service fees and commissions, while Douyin only charges commissions and will also charge a promotion fee of more than 3000 yuan. Douyin arranges local talents to visit the store and make Short videos.
In a previous earnings conference call, Meituan CEO Wang Xing responded to competition issues,"I believe that the hotel tourism industry will still maintain rapid growth in 2024. In the medium to long term, we are fully prepared to serve merchants, whether it is monthly operations or special promotions, to help consumers find merchants that suit them to connect."

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