Meituan Delivery adjusts its target, with order volume exceeding GMV

Meituan Waimai adjusted its top priority business goal in the second quarter of this year, shifting from pursuing GMV to increasing order volume. This goal adjustment was made against the backdrop of Meituan Waimai experiencing a continuous decline in average order value, leading to a 10% - 20% decrease in GMV. Influenced by the consumption environment, Meituan decided to focus on increasing order frequency to stabilize the overall food delivery market. In September, Wang Puzhong, CEO of Meituan's core local business, shared data at the Meituan Catering Industry Conference: Since the first quarter of this year, the national catering industry growth rate has been rapidly declining, with the four first-tier cities of Beijing, Shanghai, Guangzhou, and Shenzhen experiencing negative growth. The same-store performance monitored by Meituan Waimai, Meituan Dian, and the catering cash register SaaS has been declining, with a continuous decrease in average order value. After the goal adjustment, Meituan invested heavily in subsidies to stimulate market demand. In August this year, Meituan Waimai achieved a peak daily order volume exceeding 90 million through the "First Cup of Milk Tea in Autumn" marketing campaign