优选「刹车」，美团集中火力攻即时零售

Core Viewpoint - Meituan has decided to accelerate the expansion of its Xiaoxiang Supermarket to all first- and second-tier cities, one year earlier than industry expectations, following a strategic adjustment in its community group buying business, Meituan Youxuan [1][6]. Group 1: Business Adjustment - On June 23, Meituan announced a comprehensive adjustment to its Meituan Youxuan business, pausing services in multiple provinces while retaining operations in select cities such as Huizhou, Dongguan, and Hangzhou [1][3]. - The internal email from Meituan indicated that there would be no layoffs, and the personnel from Youxuan would be reassigned to the "Fast Buy" system and Xiaoxiang Supermarket [3][4]. - Prior to the adjustment, Meituan Youxuan had a team of approximately 10,000 employees, down from a peak of over 20,000 [3][4]. Group 2: Financial Performance - The strategic shift aims to reduce losses, with Meituan Youxuan's quarterly operating loss decreasing to just over 1 billion yuan [3][4]. - Investors have shown support for the decision, emphasizing the importance of focusing on profitable business segments [4][6]. Group 3: Xiaoxiang Supermarket Expansion - Xiaoxiang Supermarket is set to cover all first- and second-tier cities, with nearly 1,000 front warehouses currently in operation [6][7]. - As of June 24, Xiaoxiang Supermarket has expanded to 21 cities, with plans to cover all coastal cities and high-quality new first-tier cities like Chongqing and Chengdu [6][7]. - The average daily order volume per warehouse is stable at around 3,000 orders, with larger warehouses reaching up to 6,000 orders [6][7]. Group 4: Product Strategy - Xiaoxiang Supermarket aims to enhance consumer engagement by diversifying product offerings, particularly increasing the proportion of seafood and frozen products due to their higher repurchase rates [7][8]. - The projected sales of agricultural products for Xiaoxiang Supermarket this year are expected to exceed 20 billion yuan [7][8]. Group 5: Market Positioning - Meituan's focus on Xiaoxiang Supermarket and Meituan Flash Purchase aligns with its core business strengths, providing a competitive edge in the ongoing food delivery market [6][7]. - Investors are willing to tolerate some losses during the expansion phase, as long as there is a clear growth trajectory for Xiaoxiang Supermarket [7][8].