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Articles by 苗正卿
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Meituan Trapped in Group Buying
To survive, Meituan is downsizing and contracting its group buying business, having burned over 20 billion yuan in the past year, which is unsustainable. Guo Wanhuai, wife of founder Wang Xing, now leads Meituan Select, focusing on cost optimization and profit models, as the company faces market pressures and strategic shifts.
苗正卿Stranded in Shanghai, the Oat Milk Market Faces an Emergency
Oat milk entrepreneurs in China are facing a severe downturn as COVID-19 lockdowns in Shanghai and Beijing shut down coffee shops and tea houses, their primary sales channels. With orders down by 60%, the industry's growth engine has stalled, exposing the fragility of a market heavily reliant on the coffee sector.
苗正卿Meituan Loses 15.6 Billion Yuan in a Year, Begins to 'Hibernate'
Meituan founder and CEO Wang Xing has been keeping a low profile and encouraging reading over the past six months. In 2021, he became more cautious, spending more time reading, meeting quietly, and reflecting. The company reported a net loss of 15.6 billion yuan for 2021, largely due to a 3.4 billion yuan fine and heavy investment in new businesses like community e-commerce.
苗正卿Who Killed Double 11?
This year's Double 11 saw the slowest growth in transaction value in 12 years, with a year-on-year increase of only 12.2%. The article analyzes the underlying causes, including platform strategy shifts favoring brands over consumers, the rise of livestream e-commerce, and changing consumer behavior among younger generations.
苗正卿