“小红卡”折戟，小红书本地生活“小而美”的故事不好讲

Core Viewpoint - The recent announcement by Xiaohongshu to suspend its local life membership product "Xiaohong Card" indicates challenges in establishing a successful business model in the competitive local life market, despite the platform's strong community influence and user engagement [1][5][6]. Group 1: Product Launch and Suspension - Xiaohongshu's "Xiaohong Card" was launched on September 8, 2023, during the third "Street Life Festival" but will be suspended from January 1, 2026, with full refunds for users [1][4]. - The company aims to refocus resources on enhancing local life content and tools rather than continuing the card's trial operation [4][8]. Group 2: Market Position and Strategy - The "Xiaohong Card" was intended to create a paid model based on community trust, differentiating itself from competitors like Meituan and Dazhong Dianping by focusing on high-quality, niche offerings [5][7]. - Despite the initial goal of not prioritizing GMV, the limited user engagement and merchant coverage have raised concerns about the card's effectiveness in driving actual transactions [8][9]. Group 3: Competitive Landscape - The local life service market is projected to grow to 35.3 trillion yuan by 2025, with a compound annual growth rate of 12.6%, indicating a lucrative but highly competitive environment [10]. - Major players like Meituan and Douyin have established strong positions, making it challenging for Xiaohongshu to carve out a niche without a robust merchant network and competitive pricing [12][13]. Group 4: Future Directions - Xiaohongshu remains committed to the local life sector, planning to enhance its content and tools to assist users in discovering quality local options, despite the suspension of the Xiaohong Card [14][15]. - The company acknowledges the need for a more effective commercial model and aims to innovate its approach to achieve a sustainable business strategy in the local life market [14].