Hu Xiu·2025-04-27 14:18Core Insights - Meituan's flash purchase service has reached an average daily order volume of 13 to 14 million, with a peak of 18 million orders in a single day [1] - The potential inclusion of "invisible riders" could push Meituan's instant retail orders close to 15 million [2] - The order volume has surged over 30% in just six months since surpassing the 10 million mark in Q3 2024, indicating a growth rate that significantly outpaces the industry average [3] Group 1: Business Model Evolution - The transition from physical stores to front warehouses has been crucial for Meituan's flash purchase service, which initially aimed to digitize offline stores [5] - Meituan has incentivized offline merchants to join its platform with substantial discounts, absorbing the costs to drive traffic online [6] - The emergence of "flash warehouses" has restructured product offerings, pricing, and operations to better cater to online orders, leading to significant operational breakthroughs [9] Group 2: Instant Retail Models - There are three primary models for instant retail: physical stores, integrated store-warehouse models, and front warehouses [13] - Physical stores have seen limited success in instant retail, with many generating only a few orders monthly, while flash warehouses have shown superior performance [14][11] - Successful examples like Aoleqi demonstrate that physical stores can excel in instant retail by effectively managing inventory and optimizing product offerings [15][17] Group 3: Transition Strategies for Retailers - Retailers should adapt their business models based on order density, with higher densities favoring front warehouse models [34] - The integrated store-warehouse model serves as an initial upgrade for many retailers, allowing them to balance online and offline sales [35] - As order density increases, the advantages of front warehouses become more pronounced, prompting many retailers to shift from integrated models to front warehouses [36] Group 4: Future of Instant Retail - The evolution of instant retail is expected to lead to faster, more efficient, and diverse service offerings, with advancements in technology such as unmanned delivery and warehouses [44] - Retailers are encouraged to establish independent organizations for managing front warehouses to enhance operational efficiency [42]