3 6 Ke·2025-07-25 08:29Core Insights - Meituan's first "Happy Monkey" supermarket is set to open in Hangzhou by the end of August, with plans to establish 10 stores by 2025 and a long-term goal of 1,000 stores in major cities like Hangzhou, Shanghai, Beijing, and Guangzhou [1][3] - The supermarket will focus on "hard discount retail," positioning itself against competitors like Hema NB, with initial store sizes ranging from 800 to 1,000 square meters [1][3] - This marks Meituan's renewed attempt in offline retail after the failure of its previous venture, Xiaoxiang Fresh, which closed all stores in 2020 due to poor site selection and cost control [1][3] Business Strategy - The leadership of Happy Monkey includes experienced personnel from Meituan's previous retail initiatives, ensuring a strong operational foundation [4] - The hard discount model emphasizes high self-owned brand sales, potentially exceeding 50%, which enhances market pricing power and profit margins [5][6] - Happy Monkey aims to leverage Meituan's supply chain advantages, focusing on direct sourcing from farms to offer competitive pricing on fresh produce [10][11] Market Positioning - Happy Monkey differentiates itself by offering a streamlined selection of around 1,200 SKUs, focusing on high-frequency essential items, which allows for cost reduction through centralized purchasing [10][13] - The supermarket targets the lower-tier markets in first and second-tier cities, avoiding high-end shopping districts, thus creating a competitive edge against Hema and Aldi [13][16] - The pricing strategy aims to provide 15%-30% lower prices on fresh products compared to other retail brands, appealing to price-sensitive consumers [10][13] Competitive Landscape - Happy Monkey's entry poses a threat to established players like Hema and Aldi, prompting them to adjust their promotional strategies in response [13][16] - Meituan's extensive delivery network of 8 million riders positions Happy Monkey to offer rapid delivery services, enhancing its competitive advantage in the instant retail space [19][21] - The supermarket's model is designed to complement Meituan's existing online services, creating a dual-channel approach that integrates online and offline retail [17][23] Future Outlook - The success of Happy Monkey will depend on its ability to maintain low prices while ensuring quality, which is critical for capturing market share in the competitive hard discount sector [23] - Meituan's strategy to utilize its existing resources and infrastructure aims to fill gaps in its offline retail presence, potentially reshaping the traditional retail landscape [23]