Core Viewpoint - The article discusses the rise of hard discount supermarkets in China, highlighting their aggressive pricing strategies and questioning their profitability given the extremely low prices of essential goods like eggs and bottled water [2][4][8]. Group 1: Market Dynamics - Since late August, hard discount supermarkets have gained significant traction, with major players like JD, Meituan, and Alibaba rapidly opening new stores [2][4]. - These supermarkets attract consumers with extremely low prices, such as 30-pack eggs priced at 9.9 yuan and bottled water at 7.9 yuan [2][4]. Group 2: Pricing Comparison - A comparison of egg prices shows that hard discount supermarkets offer significantly lower prices than traditional retailers, with prices ranging from 9.9 yuan at JD to 19.9 yuan at Sam's Club [5][6]. - For soy sauce, the hard discount prices are also lower, with JD's 750ml soy sauce priced at 9.9 yuan compared to higher prices at other retailers [7]. Group 3: Cost Structure and Profitability - Industry insiders indicate that the cost of producing eggs is around 10.2 yuan for 1.5 kg, suggesting that hard discount prices may lead to losses when accounting for logistics and packaging [8]. - The profit margins on bottled water are minimal, with production costs estimated between 0.36 yuan to 0.60 yuan per bottle, making it challenging for supermarkets to achieve profitability [9]. Group 4: Business Model and Strategy - Hard discount supermarkets primarily use low-priced items to drive foot traffic, with the expectation that higher-margin products will compensate for losses on loss leaders like eggs and water [10]. - The operational model emphasizes efficiency through streamlined supply chains, reduced SKU counts, and a focus on private label products to enhance profitability [12][14]. Group 5: Competitive Landscape - Different players in the hard discount space have unique strategies, with Alibaba focusing on first-tier cities and JD targeting lower-tier markets with larger store formats [13][14]. - The success of hard discount supermarkets hinges on balancing extreme price competitiveness with operational efficiency to achieve sustainable profitability in a market projected to be worth 200 billion yuan [14].

记者丨 周慧 编辑丨周上祺 9月10日到9月14日，2025年服贸会在北京的工业旅游地首钢园举行。从泡泡玛特、52TOYS文 创产品，到PICO（字节跳动旗下XR品牌）沉浸式体验，文旅服务展馆吸引了诸多观众打卡。 在服贸会主题论坛之一的2025世界旅游合作与发展大会上，世界旅游城市联合会专家、联合国 旅游组织大使伊什特万·乌伊海伊发布了《世界旅游城市发展报告（2024—2025）》（以下简 称《报告》）。《报告》称，2024年以来，全球旅游业迎来里程碑式复苏。 联合国旅游组织数据显示，2025年一季度，国际游客总数突破3亿人次，同比增长5%。亚太市 场增速领跑全球，中国是世界上最大的旅游支出国，其出境支出同比增长30%。 "数智化""助力入境旅游"是本次服贸会文旅专题旅游展的核心亮点。 21世纪经济报道记者注 意到，入境游、旅游AI助手等话题，也是文旅类论坛嘉宾提及最多的关键词，针对中国入境游 人数的增加，从机场到在线旅游平台都推出了系列服务；AI方面，中国的互联网社交平台小红 书、OTA（在线旅游）平台去哪儿以及美团旅行等，都在服贸会上披露了AI应用的最新进展。 中国入境游人数激增 去哪儿副总裁任芬分享了一 ...

Group 1: AI and Digital Innovations - The 2025 China International Service Trade Fair showcased new AI technologies and digital applications, enhancing global service trade quality and providing immersive experiences for consumers and businesses [1] - Educational innovations included personalized health development models and integrated smart campus solutions, demonstrating the application of AI in education [2] - The integration of AI with geographic spatial technology by China Mobile created a comprehensive educational resource ecosystem, enhancing learning and cultural engagement [2] Group 2: Telecommunications and Social Governance - The telecommunications sector presented various applications such as "AI + new calls" and "5G + subway," highlighting the international facilitation of service trade and the advancement of global 5G applications [3] - The design of the Fengtai Railway Station showcased a combination of new and traditional communication technologies, ensuring aesthetic appeal and strong signal coverage [3] - Innovative exhibition methods, including dynamic demonstrations, allowed visitors to experience the impact of digital technology on social governance [3] Group 3: Supply Chain and Transportation Innovations - The supply chain and transportation services exhibition featured leading companies showcasing innovations in digital transportation and smart manufacturing [5] - The China-Singapore "Digital Trade Port" project, utilizing blockchain technology, improved the efficiency of trade document processing and promoted green digital upgrades in international trade [5] - The initiative fostered a closed-loop model of "business practice - standard formulation - international promotion," encouraging more enterprises to join the digital ecosystem [5] Group 4: Interactive Experiences - The fair included multiple immersive interactive points, allowing attendees to experience the practical applications of transportation technology through AI videos and smart models [6]

21世纪经济报道记者周慧 北京报道 9月10日到9月14日，2025年服贸会在北京的工业旅游地首钢园举行。从泡泡玛特、52TOYS文创产品，到PICO（字节跳动旗下XR品牌）沉浸式体验，文旅 服务展馆吸引了诸多观众打卡。 在服贸会主题论坛之一的2025世界旅游合作与发展大会上，世界旅游城市联合会专家、联合国旅游组织大使伊什特万·乌伊海伊发布了《世界旅游城市发展 报告（2024—2025）》（以下简称《报告》）。《报告》称，2024年以来，全球旅游业迎来里程碑式复苏。 联合国旅游组织数据显示，2025年一季度，国际游客总数突破3亿人次，同比增长5%。亚太市场增速领跑全球，中国是世界上最大的旅游支出国，其出境支 出同比增长30%。 "数智化"、"助力入境旅游"是本次服贸会文旅专题旅游展的核心亮点。21世纪经济报道记者注意到，入境游、旅游AI助手等话题，也是文旅类论坛嘉宾提及 最多的关键词，针对中国入境游人数的增加，从机场到在线旅游平台都推出了系列服务；AI方面，中国的互联网社交平台小红书、OTA（在线旅游）平台 去哪儿以及美团旅行等，都在服贸会上披露了AI应用的最新进展。 去哪儿副总裁任芬分享了一组入境游数据，2 ...

Core Viewpoint - The article discusses the rise of "hard discount" supermarkets in China, highlighting how major players like JD, Alibaba, and Meituan are innovating in the retail space to offer stable low prices and efficient shopping experiences, contrasting with traditional supermarkets and farmers' markets [2][10][35]. Group 1: Market Dynamics - The competition among major players has shifted from food delivery to in-store shopping, with JD opening its first discount supermarket and Alibaba rebranding its "盒马NB" to "超盒算NB" [4][5]. - Meituan has also launched its self-operated brand "快乐猴" in Alibaba's headquarters city, emphasizing direct sourcing and everyday low prices [6][12]. - The popularity of these new stores is evident, with JD's store attracting 100,000 visitors in its first two days, indicating strong consumer interest [6][10]. Group 2: Hard Discount Model - The "hard discount" model is characterized by long-term low prices without compromising quality, as opposed to short-term promotional discounts [9][10]. - These stores focus on high-frequency, essential goods, utilizing a direct-to-consumer (F2C) model to reduce costs by eliminating middlemen [16][17]. - The operational efficiency is enhanced through minimalistic store designs and high product turnover, which keeps inventory fresh and reduces labor costs [17][18]. Group 3: Competitive Landscape - The article notes that while international hard discount brands like ALDI have struggled in China, local players are adapting the model to better fit consumer preferences and market conditions [20][21]. - The current penetration rate of hard discount stores in China is only 8%, suggesting significant growth potential compared to 42% in Germany [30]. - The competition among the three giants—JD, Alibaba, and Meituan—will likely intensify as they seek to establish unique advantages in the hard discount space [32][35].

Core Viewpoint - The hard discount supermarket sector is experiencing significant competition among major internet companies, with aggressive pricing strategies aimed at attracting consumers [2][3][9]. Group 1: Market Activity - Since late August, major players like JD, Meituan, and Alibaba have rapidly expanded their hard discount supermarket presence, opening multiple stores in a short time [2]. - JD's discount supermarket has opened five stores in Hebei and Jiangsu, while Meituan's "Happy Monkey" opened its second store in Hangzhou within two weeks of the first [2]. - Alibaba's Hema NB has rebranded to "Super Box Count NB" and opened 17 new stores across ten cities in Jiangsu and Zhejiang, bringing its total to nearly 300 stores by the end of August [2]. Group 2: Pricing Strategy - The primary selling point of these hard discount supermarkets is the extremely low prices of fresh and fast-moving consumer goods (FMCG) [3][4]. - For example, a 30-pack of eggs is priced at 9.9 yuan at JD's discount supermarket, significantly lower than prices at other retailers, which range from 16.9 to 19.9 yuan [5][6]. - Similarly, the price of Hai Tian soy sauce at JD's discount supermarket is 9.9 yuan for 750ml, compared to 12.9 yuan and 15.99 yuan at other platforms [4][6]. Group 3: Profitability Concerns - Industry insiders indicate that the pricing strategy may lead to losses, as the cost of producing a 1.5 kg pack of eggs is around 10.2 yuan, not including logistics and packaging [7]. - The profit margins on bottled water are also minimal, with production costs estimated between 0.36 to 0.6 yuan per bottle, while retail prices are set at 7.9 yuan for a pack of 12 [8]. - The low-priced items are primarily used to attract customers, with the expectation that higher-margin products will drive overall profitability [8][11]. Group 4: Operational Efficiency - Hard discount supermarkets focus on operational efficiency, requiring precise product selection and supply chain optimization [9][11]. - These supermarkets typically reduce SKU counts, connect directly with suppliers, and emphasize private label products to enhance profit margins [9][10]. - Each major player has a distinct strategy: Hema NB targets first and new-tier cities with a focus on private labels, while JD aims at lower-tier markets with larger store formats and a broader product range [10][11]. Group 5: Market Dynamics - The hard discount sector is characterized by a "daily low price" model, contrasting with traditional retail that often relies on clearance sales [9]. - The competition is intense, with companies needing to balance extreme cost efficiency with effective operations to achieve sustainable profitability in a market valued at 200 billion yuan [11].

Core Points - The "Safe Consumption in Beijing" press conference was held, organized by Meituan and supported by multiple government departments to enhance consumer rights and safety [1][2] - Meituan launched a series of "Safe Consumption" products aimed at various service sectors, including flexible payment solutions and refund policies to improve consumer experience and security [1][2] Group 1: Product Offerings - Meituan introduced "Flexible Payment" and "Runaway Compensation" solutions for the sports and fitness sector [1] - For services like foot massage, hairdressing, and family entertainment, Meituan offers a "per-use redemption" model with refundable remaining balances [1] - In the education sector, consumers can purchase "Safe Learning" packages that allow for per-class payment and refunds if services are not fulfilled [1] Group 2: Market Impact - Over 35,000 stores in Beijing have adopted Meituan's "Safe Consumption" products, with over 50% coverage in the fitness industry and over 40% in sports training [2] - The consumption amount for beauty and fitness services in Beijing increased by over 62% year-on-year as of August, indicating the effectiveness of the "Safe Consumption" initiative [2] - The initiative aims to leverage technology for regulatory compliance and to address challenges in prepaid consumption, promoting digital transformation in the sector [2]

Core Viewpoint - The introduction of the "安心消费" series by Meituan aims to address the challenges of prepaid consumption, particularly in sectors like education, fitness, and beauty, by providing consumer protection against business closures [1][2]. Group 1: Product Launch and Features - Meituan has launched the "安心消费" series, which includes a compensation mechanism for consumers in case of business closures, enhancing consumer confidence in prepaid services [1][2]. - The series includes customized solutions for various sectors, such as "灵活付、跑路赔" in fitness, allowing consumers to purchase group deals with a "跑路赔" label for added security [2]. - In the education sector, the "安心学" product allows for a pay-per-class model, enabling consumers to pay only for the classes they attend, with a refund option for unused funds [2]. Group 2: Market Impact and Participation - Over 35,000 stores in Beijing have joined the "安心消费" series, with over 50% coverage in the fitness industry and over 40% in sports training [1]. - The "安心学" program has seen participation from over 38,000 educational institutions across more than 270 cities, offering over 64,000 courses [2]. - The implementation of these products has led to significant increases in traffic and engagement for participating brands, with one brand reporting a 185% increase in traffic and a 117% increase in visits [3]. Group 3: Regulatory and Industry Support - The initiative aligns with government efforts to promote healthy development in prepaid consumption and ensure consumer fund safety, with Beijing incorporating it into key tasks for urban development [3]. - The platform aims to leverage technology and data to enhance consumer protection and facilitate the digital transformation of prepaid consumption [3].

Core Viewpoint - The article discusses the launch of Meituan's AI assistant, Xiaomei, which simplifies daily tasks such as ordering food and making restaurant reservations through natural language commands, eliminating the need for complex graphical interfaces [1][6][49]. Group 1: Functionality and User Experience - Xiaomei serves as a "small and beautiful" life secretary, efficiently handling daily needs and making life simpler [3][6]. - Users can interact with Xiaomei using voice commands, allowing for easy completion of tasks like ordering takeout and finding restaurants without navigating through multiple screens [7][9]. - The assistant can recommend food based on user preferences and past orders, acting as a "wish box" for meal suggestions [29][30]. Group 2: Technology and Data Integration - Xiaomei is powered by Meituan's LongCat model, which excels in natural language processing and can handle complex tasks due to its extensive training on real-world data [51][54]. - The integration of Xiaomei with Meituan's service system allows for seamless execution of tasks, ensuring that user requests are processed accurately and efficiently [58][60]. - The assistant is designed to learn from user interactions, adapting to individual habits and preferences over time, thus enhancing user experience [61][62]. Group 3: Comparison with Traditional Assistants - Unlike traditional AI assistants that require multiple clicks and operations, Xiaomei aims to create a more human-like interaction through natural dialogue [63][64]. - The assistant captures subtle changes in user habits and responds appropriately, fostering a sense of familiarity and understanding [65][66].

Core Insights - Gaode has launched a new ranking list called "Gaode Street Ranking," which is based on real user behavior rather than scores, focusing on metrics like foot traffic, repurchase rates, and user demographics [2][3] - The initiative aims to compete directly with Meituan's Dianping, indicating a strategic move by Alibaba to strengthen its position in the local services market [2][3] - Gaode's CEO emphasized that the ranking will never be commercialized, aiming for authenticity through user behavior and credit data, similar to Google Maps' model [2][3] User Engagement and Market Position - Gaode has a significant user base, with daily active users (DAU) exceeding 100 million since 2021, and monthly active users (MAU) surpassing 800 million, making it one of the top five apps in China [3] - The transition from navigation to store discovery is seen as a natural extension of user needs, with an average daily usage time of 28 minutes for navigation [5] - The local services market is projected to exceed 10 trillion yuan by 2025, with a compound annual growth rate (CAGR) of over 15%, highlighting the potential for growth in this sector [6] Competitive Landscape - Gaode's strategy includes integrating various services such as navigation, ride-hailing, dining, and travel into a super app, aiming to create a seamless user experience [7] - The competition with Meituan is intense, as Meituan has previously indicated that its takeaway business is not profitable, with its core local business generating significant revenue from in-store dining and travel [5][6] - Gaode's "Street Ranking" is designed to address the shortcomings of existing ranking systems, which have been criticized for being overly commercialized and not reflective of genuine user preferences [8][9] Data-Driven Approach - The ranking system utilizes real user data, including navigation and search behaviors, to ensure authenticity and reliability, supported by the Sesame Credit system [8][9] - Gaode has introduced a "Smoke Fire Good Store Support Plan" with over 1 billion yuan in subsidies to facilitate transactions from Gaode to Alipay, creating a consumption loop [11] - The initial success of the "Street Ranking" is evident, with over 40 million active users on its first day, surpassing Dianping's peak user count [12] Challenges Ahead - Despite the strong start, Gaode faces challenges in changing user perceptions, as many consumers are accustomed to using Dianping for restaurant reviews and recommendations [12][13] - Building a robust user-generated content (UGC) library will take time, as Gaode currently lacks the depth of content that Dianping has accumulated [12][15] - The effectiveness of Gaode's data-driven evaluation system is still under scrutiny, as it may not fully capture the nuances of user experiences and preferences [15][16]