12月8日，小红卡 团队在小红书上发布公告称，"小红卡"将于2026年1月1日起暂停试运营。据悉，小红卡于2025年9月第三届马路生活节期间上线 试运营，以"精选吃喝玩乐一卡通"为定位，是小红书的本地生活会员卡。 "小红卡"年费为168元，初期在上海、杭州、广州三地推出，用户持卡可享受"精选门店推荐""全店通用折扣""专属活动"等权益，例如，持有该卡可 在全国范围内的精选门店买单时享受九折优惠。 近年来，小红书多次试水本地生活业务。小红书交易产品负责人、本地产品负责人莱昂曾表示，小红书以"Inspire Lives 分享和发现世界的精彩"为使 命，因此做本地生活是必然选择。"小红卡"业务不会过度追求GMV，而是将重点放在用户认可度上，包括买卡率、到店消费率、付费意愿等。 在最新公告中，小红卡团队表示，由于准备不够充分，没能满足用户对本地生活丰富性与便捷性的需求，计划自2026年1月1日起，暂停"小红卡"的试 运营。接下来团队会继续坚定地做好本地生活内容和工具。 在暂停试运营具体安排上，2025年12月31日前，所有持卡用户仍可继续享受全部权益。自2026年1月1日起，所有小红卡将自动失效，无法继续使 用。购卡 ...

2025.12. 09 本文字数：939，阅读时长大约1.5分钟 来源 | 中国基金报、 小红书公告等 2O25 XIAOHONGSHU 2026 短暂告别 只为更好的相遇 ( XIAOHONGKA ) 致小红卡伙伴们 亲爱的小红卡伙伴们： 12月8日，小红卡团队在小红书上发布公告称， "小红卡"将于2026年1月1日起暂停试运营 。据悉， 小红卡于2025年9月第三届马路生活节期间上线 试运营，以"精选吃喝玩乐一卡通"为定位， 是小红书的本地生活会员卡 。 "小红卡"年费为168元，初期在上海、杭州、广州三地推出，用户持卡可享受"精选门店推荐""全店通用折扣""专属活动"等权益，例如，持有该卡可 在全国范围内的精选门店买单时享受九折优惠。 近年来，小红书多次试水本地生活业务。小红书交易产品负责人、本地产品负责人莱昂曾表示，小红书以"Inspire Lives 分享和发现世界的精彩"为使 命，因此做本地生活是必然选择。"小红卡"业务不会过度追求GMV，而是将重点放在用户认可度上，包括买卡率、到店消费率、付费意愿等。 在最新公告中，小红卡团队表示，由于准备不够充分，没能满足用户对本地生活丰富性与便捷性的需求，计 ...

12月8日，小红卡团队在小红书上发布公告称， "小红卡"将于2026年1月1日起暂停试运营 。据悉，小红卡于2025年9月第三届马路生活节期间上线试运 营，以'精选吃喝玩乐一卡通'为定位， 是小红书的本地生活会员卡 。 在最新公告中，小红卡团队表示，由于准备不够充分，没能满足用户对本地生活丰富性与便捷性的需求，计划自2026年1月1日起，暂停"小红卡"的试运 营。接下来团队会继续坚定地做好本地生活内容和工具。 在暂停试运营具体安排上，2025年12月31日前，所有持卡用户仍可继续享受全部权益。自2026年1月1日起，所有小红卡将自动失效，无法继续使用。 购 卡用户无需进行任何操作，小红书会为其办理全额退款 。 2025 XIAOHONGSHU 2026 9 t of and and and 短暂告别 XIAOHONGKA ) ( 只为更好的相遇 致小红卡伙伴们 "小红卡"年费为168元，初期在上海、杭州、广州三地推出，用户持卡可享受"精选门店推荐""全店通用折扣""专属活动"等权益，例如，持有该卡可在全 国范围内的精选门店买单时享受九折优惠。 亲爱的小红卡伙伴们: 近年来，小红书多次试水本地生活业务。小红书交 ...

【导读】小红书宣布，"小红卡"暂停试运营 中国基金报记者 忆山 12月8日，小红卡团队在小红书上发布公告称，"小红卡"将于2026年1月1日起暂停试运营。 "小红卡"于今年9月"马路生活节"期间上线试运营，其定位是"精选吃喝玩乐一卡通"，年费为 168元，初期在上海、杭州、广州三地推出，用户持卡可享受"精选门店推荐""全店通用折 扣""专属活动"等权益，例如，持有该卡可在全国范围内的精选门店买单时享受九折优惠。 近年来，小红书多次试水本地生活业务。小红书交易产品负责人、本地产品负责人莱昂曾表 示，小红书以"Inspire Lives 分享和发现世界的精彩"为使命，因此做本地生活是必然选 择。"小红卡"业务不会过度追求GMV，而是将重点放在用户认可度上，包括买卡率、到店消 费率、付费意愿等。 不过，对于小红书试图以一张会员卡拓展本地生活业务的操作，市场普遍持谨慎态度。有业 内人士指出，当前本地生活赛道上，美团、抖音、阿里等巨头云集，小红书面临不小的竞争 压力。此外，如何控制运营成本、尽快帮助商家实现收益，以及确保精选门店保持"真实种 草"的根基等，都是需要解决的问题。 在最新公告中，小红卡团队表示，由于准备不够 ...

【导读】小红书宣布，"小红卡"暂停试运营 2025 XIAOHONGSHU 2026 9 124 ( XIAOHONGKA ) 致小红卡伙伴们 亲爱的小红卡伙伴们: 小红卡业务在今年9月马路生活节上线试运营以来, 受到了大家的大力支持。感谢您陪着我们这个"小探 索"一起成长。 我们一直在倾听着大家的声音。一方面不少伙伴对我 们说,通过小红卡发现了很多宝藏小店,解锁了不一 样的生活方式;另一方面我们也认识到,我们的准备 不够充分,还没能满足大家对本地生活丰富性与便捷 性的需求。 12月8日，小红卡团队在小红书上发布公告称，"小红卡"将于2026年1月1日起暂停试运营。 "小红卡"于今年9月"马路生活节"期间上线试运营，其定位是"精选吃喝玩乐一卡通"，年费为168元，初期在上 海、杭州、广州三地推出，用户持卡可享受"精选门店推荐""全店通用折扣""专属活动"等权益，例如，持有该 卡可在全国范围内的精选门店买单时享受九折优惠。 近年来，小红书多次试水本地生活业务。小红书交易产品负责人、本地产品负责人莱昂曾表示，小红书 以"Inspire Lives 分享和发现世界的精彩"为使命，因此做本地生活是必然选择。"小红卡" ...

Core Viewpoint - JD.com has launched an independent app for its food delivery service, JD Takeout, aiming to enhance user experience and compete with major players like Meituan, Dazhong Dianping, Ctrip, and Ele.me [1][6]. Group 1: App Launch and Market Positioning - The JD Takeout app is positioned as a comprehensive service platform, integrating food delivery, instant retail, reviews, travel, and shopping [1][6]. - The app's launch coincided with a recovery in JD.com's stock price, which closed at $29.54 on November 17, following a decline after the Q3 earnings report [1][6]. - JD.com aims to improve user accessibility to its food delivery services, addressing previous consumer complaints about finding the delivery service within the main JD app [4][6]. Group 2: Business Growth and Strategy - Since its initial launch in February, JD Takeout has seen rapid growth, with daily order volumes reaching approximately 11 million by October [5][6]. - The company has implemented a "100 billion subsidy" initiative to boost order volumes, which has resulted in significant increases in delivery orders over several months [5][6]. - JD.com has shifted its competitive strategy in response to increased investments from competitors like Taobao and Meituan, focusing on quality and service rather than direct competition on subsidies [5][7]. Group 3: Financial Performance - In Q3, JD.com reported revenues of 299.1 billion yuan, a year-on-year increase of 14.9%, while net profit decreased by 56.06% [6][7]. - New business segments, including food delivery, experienced a 214% year-on-year revenue growth, indicating strong performance in emerging markets [6][7]. Group 4: Competitive Landscape - JD Takeout's features closely resemble those of Meituan, with both platforms offering similar services, although JD Takeout includes a shopping channel that Meituan lacks [6][7]. - The competitive landscape is evolving, with JD.com opting for a separate app strategy while competitors like Alibaba are moving towards integration of services [7].

Core Viewpoint - JD.com is gradually filling the gaps in its takeaway and local life services, with the launch of "JD Review" as a new entry point to integrate takeaway and e-commerce services [1][2][3]. Group 1: JD Review Launch - JD Review has been integrated into the JD app, allowing users to search for food, hotels, products, and services in one place [2]. - The platform features five main categories: finding food, booking hotels, selecting products, exploring activities, and choosing home services [2][3]. Group 2: Business Strategy - JD.com is heavily investing in its takeaway business, viewing it as a high-frequency traffic entry point to draw users back to the platform and support its core e-commerce operations [3][6]. - In Q3, JD's revenue from electronic appliances grew only 4.9% year-on-year, while daily necessities saw a 14.9% increase, highlighting the urgency of integrating takeaway services to boost overall sales [3][10]. Group 3: User Experience Enhancement - The "JD Review" platform allows for a dual transition between content and purchasing, enabling users to order takeaway or shop for products seamlessly [5][10]. - This integration is a significant innovation for JD, as it combines user-generated content (UGC) with direct purchasing options, enhancing the shopping experience [5][6]. Group 4: JD Signature List - Alongside JD Review, the "JD Signature List" has been launched, which ranks food items and stores based on real user repurchase behavior [6][7]. - The ranking criteria include a minimum store rating of 3.5, high dish approval rates, and consistent user repurchase performance [8][10]. Group 5: Competitive Landscape - The local life service competition has intensified, with JD entering a three-way battle alongside existing players like Meituan and Dazhong Dianping [6][10]. - JD's approach contrasts with Dazhong Dianping's social recommendation model and Gaode's behavior-based ranking, focusing instead on real user data to drive its rankings [6][10].

Core Insights - Kuaishou is undergoing significant adjustments in its local life services business, transitioning service providers to become advertising service providers, which indicates a strategic shift towards enhancing advertising revenue generation [1][2][9] - The restructuring of the local life division, now renamed the Life Services Division, aims to integrate with the commercialization system, suggesting a focus on operational efficiency and revenue growth [1][9] - The competitive landscape in local life services is intensifying, with Kuaishou, Meituan, and Douyin dominating the market, while Alibaba and JD.com are increasing investments in instant retail and local services [2][8] Organizational Changes - The Life Services Division will now report to a higher executive level, with Liu Xiao appointed as the head, indicating a potential increase in resource allocation despite perceptions of reduced business weight [1][9] - The integration of various industry lines such as automotive, finance, education, and telecommunications into the Life Services Division is expected to enhance service efficiency for local merchants [1] Market Position and Strategy - Kuaishou's local life services are currently capturing approximately 25% of the transaction volume compared to Douyin, highlighting a significant gap in market share [8] - The operational strategy of Kuaishou's local life services is aligning closely with Douyin's, focusing on short videos and live streaming to sell local service packages, although Kuaishou has not yet seen a corresponding increase in transaction volume [2][8] - The adjustment in service provider assessment criteria to include advertising spending reflects a strategic pivot towards enhancing revenue generation through advertising [9] Future Outlook - Kuaishou is expected to introduce new policies following the restructuring, aiming to create a more favorable environment for service providers and enhance overall business performance [10]

Core Insights - The third edition of the Xiaohongshu Street Life Festival concluded after 17 days, marking a significant expansion with simultaneous events in Shanghai, Guangzhou, and Hangzhou [1] - This year's festival featured 25 unique Citywalk routes, approximately 300 offline activities, and thousands of partner stores, showcasing a substantial increase in participation compared to previous years [1] Group 1: Event Expansion - The festival expanded from a single city to three cities for the first time, indicating a strategic growth in reach and engagement [1] - The number of participating merchants increased by over 10 times compared to the previous year, highlighting a successful outreach and partnership strategy [1] Group 2: Product Innovation - The introduction of the "Xiaohong Card," which offers a unified 10% discount, selected stores, and exclusive benefits, was a core innovation of this year's festival [1] - The Xiaohong Card aims to connect quality users with merchants, facilitating deeper conversion from traffic to consumption [1] Group 3: Business Focus - The local lifestyle business of Xiaohongshu focuses on inspiring users through quality content rather than solely on transaction volume [1] - The platform emphasizes the importance of generating real content through quality demand stimulation and fulfilling that demand with transactional products [1] Group 4: Future Operations - The Xiaohong Card will continue to operate post-festival, with plans for ongoing optimization based on merchant and user feedback [2]

Group 1 - The core idea of the article revolves around Xiaohongshu's strategic entry into the local lifestyle market through the launch of the "Malulu Life Festival" and the "Xiaohong Card" [2][3] - The "Malulu Life Festival" is a significant offline brand event that expands beyond a single city to Shanghai, Hangzhou, and Guangzhou, featuring 25 curated Citywalk routes and over 200 limited-time activities at partner stores [2] - The "Xiaohong Card" is designed as a "selected dining and entertainment all-in-one card," offering users benefits such as discounts and exclusive event participation rights, aiming to enhance user engagement and merchant visibility [2][3] Group 2 - Xiaohongshu's approach to local lifestyle services is seen as a natural evolution of its platform, which has transitioned from an overseas shopping guide to a lifestyle community over 12 years [3] - The "Xiaohong Card" aims to aggregate well-reviewed local businesses, facilitating easier discovery and consumption for users while providing merchants with increased visibility [3][6] - The competitive landscape in local lifestyle services is intensifying, with other platforms like Alibaba and Dazhong Dianping launching their own initiatives, such as the "Gaode Street Ranking" and upgraded takeaway services [4][5] Group 3 - Xiaohongshu's local lifestyle business is still in its early stages, focusing on understanding consumer willingness to pay and user engagement rather than immediate revenue metrics [6][10] - The company acknowledges the importance of pricing but emphasizes that it is not the core logic of its business model [7][10] - The platform is working on enhancing its local service infrastructure and improving the precision of exposure to better connect users with nearby businesses [9][10]