美团小象超市将开线下店，或对标「盒马鲜生」大店模式｜独家

Core Viewpoint - Meituan's Xiaoxiang Supermarket is re-entering the offline retail space, exploring new store formats similar to Hema's community store brand "Hema NB" and larger store models akin to "Hema Fresh" [4][6][11]. Summary by Sections Meituan's Offline Strategy - Meituan Xiaoxiang Supermarket has restarted its offline business after nearly eight years, initially benchmarking against Hema's community store brand and now considering larger store formats [4][6]. - The company is currently recruiting for various operational roles, indicating a serious commitment to this offline venture [4]. Historical Context - Meituan's initial foray into offline retail began in 2016 with the launch of "Zhangyu Fresh," which later evolved into "Xiaoxiang Fresh" with seven stores opened in 2018 [6][7]. - The company faced challenges, leading to the closure of five stores in 2019 due to a misjudgment of market demand for high-end fresh produce [7][8]. Market Environment and Competition - The current market landscape for offline retail is undergoing a reshuffle, with traditional supermarkets like Walmart and Carrefour either exiting or restructuring their operations [9]. - Competitors such as JD's "JD Seven Fresh" and Hema are expanding their store networks, indicating a trend towards integrating online and offline strategies [8][9]. Financial Performance and Growth - Xiaoxiang Supermarket has seen significant growth, with sales increasing 50 times over four years, and its annual GMV approaching 30 billion yuan [10]. - Despite this growth, the supermarket is currently at a breakeven point or slightly profitable, highlighting the challenges of profitability in the fresh produce sector [10]. Comparison with Hema - Hema has successfully achieved profitability and growth, with plans to open 72 new stores in 2024, focusing on its main business lines [11]. - Xiaoxiang Supermarket aims to differentiate itself from Hema by targeting different customer segments and leveraging its established supply chain [11].