Core Insights - The service retail sector in lower-tier cities represents a significant growth opportunity, described as a "blue ocean" market [1] - Over the past year, more than 10,000 chain brands from higher-tier cities have accelerated their expansion into lower-tier cities, resulting in a 66% year-on-year increase in the number of new stores [1] - Since 2022, Meituan's service retail has connected 2 million merchants across 284 lower-tier cities and nearly 3,000 county-level cities, achieving an annual compound growth rate of over 90% in transaction volume and over 60% in the number of annual transaction users [1]