文 | 超聚焦 快递电商，美团也不干了？ 12月15日，美团宣布暂停团好货业务，将战略重心转向探索零售新业态。 美团食杂零售团队在内部邮件中指出，作为美团快递电商业务的早期探索业务，团好货已积累商品零售 经验，但面对食杂零售行业的快速创新，现有快递电商模式难以满足即时零售用户需求。针对业务调整 涉及的人员，团队称将启动一对一沟通，详细说明后续安置方案。 翻译成大白话就是：我们试过了，但用做全国快递生意的逻辑，服务不好我们App里那些想"30分钟万 物到家"的用户。 从2020年高调上线，对标拼多多，到如今黯然离场，团好货的五年快递电商探索之路画上了句号。 这不禁让人发问，美团建立在数百万外卖骑手之上的即时配送网络，究竟能否撑起一个与淘宝、拼多多 同维竞争的快递电商帝国？或者说，送外卖的，揽得了送快递的活儿吗？ 一场始于对标， 终于"基因冲突"的电商梦 回望团好货五年来的跌宕起伏，像是一部浓缩的互联网业务兴衰史，其身上清晰地烙印着美团在电商领 域的野心、摇摆与无奈。 2020年8月，团好货正式上线，主打"产地直发"和"团购模式"。彼时，拼多多势如破竹，社区团购烽烟 四起，美团急需在本地生活之外，找到新的增长曲线 ...

Investment Rating - The industry rating is "Recommended" [4] Core Insights - The recent bidding results for duty-free projects at Shanghai airports indicate a new competitive landscape, with international retailers regaining operational rights in China after 1999. The expected annual passenger throughput for the two terminals at Pudong Airport is 80 million, with the bidding results showing a decrease in commission rates [2][19] - The National Retail Innovation Development Conference emphasized the retail sector as a foundational industry for the national economy, encouraging companies to accelerate transformation and focus on high-quality development [3] Summary by Sections Industry & Company Dynamics - The bidding results for duty-free operations at Shanghai airports have led to a significant shift in the competitive landscape, with China Duty Free Group (CDFG) and Dufry winning key contracts. The commission rates for the new contracts are lower than previous agreements, which may enhance profitability for operators [1][2][19] - Walmart has transitioned from the New York Stock Exchange to Nasdaq, marking a strategic shift towards being perceived as a technology-driven company rather than a traditional retail stock. This move is seen as a response to the evolving retail landscape and the increasing importance of technology and AI [21] Macro & Industry Data - In October, the total retail sales reached 4.63 trillion yuan, with a year-on-year growth of 2.9%. Excluding automobiles, retail sales grew by 4.0%, indicating a slight acceleration in consumer spending [39][40] - The online retail growth rate has slowed, while new retail formats continue to grow rapidly. For the first ten months, the online retail sales of physical goods increased by 6.3% year-on-year, with new retail formats like warehouse membership stores and unmanned stores showing double-digit growth [40] Investment Recommendations - Five investment themes are suggested: 1. Continuous upgrades in AI technology, benefiting companies like Keri International and Focus Technology [7] 2. Increased consumer willingness to pay for emotional value, with high-growth potential in new retail sectors [7] 3. Recovery of cyclical sectors under the backdrop of domestic demand stimulation, with companies like Haidilao and Yum China expected to benefit [7] 4. Expanding opportunities for domestic brands going overseas, with a focus on service providers and strong product offerings [7] 5. Revitalization of traditional formats as offline traffic returns, benefiting companies like Yonghui Supermarket and Kidswant [7]

Core Viewpoint - Meituan has announced the shutdown of its services in Guangdong province for its community group buying platform, Meituan Youxuan, as part of a business transformation strategy [1] Group 1: Business Adjustments - Meituan Youxuan's service cessation is part of a broader trend, as the company had previously scaled back its operations in June, retaining only select regions like Guangdong and Zhejiang [1] - The B2C e-commerce segment, "Tuan Hao Huo," has also paused operations, focusing resources on exploring new retail formats [1] Group 2: Financial Performance - Meituan reported its first quarterly loss since 2022 in its Q3 2025 earnings announcement, with a significant decline in operating profit for its core local commerce segment, resulting in an operating loss of 14.1 billion RMB [1] - The new business segment, which includes community group buying, also saw its operating losses widen to 1.3 billion RMB year-on-year [1]

12 月 15 日消息，互联网除了霸王茶姬张俊杰大婚的甜瓜以外，其实还有个创业大瓜。 当当网创始人李国庆宣布再次创业！推出新公司"李享生活"，走的定位是线上高端会员制电商，主打一个 品质生活圈层，第一年的目标是服务 5000 名优质会员。 好家伙，在该退休的年纪不退休，反而一头扎进电商赛道。不得不说，60 岁的李国庆真敢闯。 图源：抖音 除了敢闯以外，创业的蓝图也很敢想。早在今年 9 月，李国庆就把新公司注册好了，注册资本 100 万，而 他持股 99%，也就是说，妥妥的核心掌舵人。从视频中的发言我们可以得知，这次新业务不搞花里胡哨， 主打卖好货。凭借多年电商经验，给消费者们筛选"真年份、真产区"的靓货。主要售卖产品为陈皮、普洱 茶、酒类这些容易买错，且加价率虚高的品类。 图源：抖音 不过要说起李国庆的创业史，那还挺丰富的。当当网作为国内最早电商平台之一，比淘宝还早两年呢。虽 然后期被甩开了，但在图书垂直领域，它也曾是王者级别。而李国庆本人，也是最早一批懂得玩流量，会 营销的老板。再加上这几年搞自媒体、搞直播啥的，在电商行业方面也算有透彻研究。如今再次创业 搞"李享生活"，本质上是在用老经验和新玩法，勇闯电商 ...

Group 1: Regulatory Developments - Shanghai Arbitration Commission is set to release the "Shanghai Arbitration Committee Securities and Futures Arbitration Rules" on December 26, 2024, marking a significant step in the establishment of a local arbitration framework for securities and futures [1] - The Ministry of Industry and Information Technology has granted conditional access for the first L3-level autonomous driving vehicles in China, allowing two models to conduct road trials in designated areas of Beijing and Chongqing [1] Group 2: Market Trends - Counterpoint Research reports a 10% year-on-year increase in global cellular IoT module shipments in Q3 2025, driven by strong demand in smart meters, asset tracking, routers/CPE, and automotive applications, with India showing a remarkable 40% growth [2] - McDonald's has raised prices on various menu items by 0.5 to 1 yuan, including popular items like the Big Mac and McNuggets, indicating a trend of price adjustments in the fast-food sector [3] Group 3: Corporate Actions - HashKey Holdings Ltd. has set its IPO price close to the upper limit of the range, aiming to raise 1.6 billion HKD (approximately 206 million USD) [7] - Gold Ham announced the resignation of its president, Guo Bo, who will continue to serve as vice chairman and a member of the board's strategic committee [8] - KWH Holdings plans to repurchase shares worth 20 to 40 million yuan, with a maximum price of 95 yuan per share, aimed at employee stock ownership plans or equity incentives [14] Group 4: Financial Performance - Air China reported a 10.1% year-on-year increase in passenger turnover for November 2025, with a 4.9% rise in passenger capacity and an average seat occupancy rate of 83.3%, up by 4 percentage points [15]

校对 柳宝庆 新京报贝壳财经讯（记者程子姣）12月15日，据当当网创始人李国庆视频号，李国庆称"60岁再启航， 重回电商一线，正式发布李享生活的品牌"，他透露"李享生活"为线上高端会员店，第一年只服务5000 个优质会员。 编辑 岳彩周 ...

Core Viewpoint - Meituan has decided to suspend its "Tuan Hao Huo" business to focus on exploring new retail formats, reflecting a strategic shift in its e-commerce approach towards instant retail and away from traditional delivery e-commerce [3][7]. Group 1: Business Strategy - Tuan Hao Huo, a B2C e-commerce initiative launched by Meituan in August 2020, has been rebranded as Meituan E-commerce and is being phased out as the company pivots towards instant retail [7]. - The decision to suspend Tuan Hao Huo is part of Meituan's broader strategy to adapt to the evolving grocery retail landscape, which has seen significant innovation and growth [7]. - Meituan's third-quarter financial report indicates strong growth in new business segments, with revenue reaching 28 billion yuan, a year-on-year increase of 15.9% [7]. Group 2: Market Trends - The instant retail sector is gaining traction, with data showing that sales during this year's Double 11 shopping festival reached 67 billion yuan, marking a 138.4% increase year-on-year [8]. - Meituan's flash purchase platform has seen record highs in transaction volume and user engagement during the Double 11 period, with average consumer spending increasing by nearly 30% [8]. - The entry of numerous brands into instant retail platforms signifies a shift in the e-commerce landscape, where traditional e-commerce must enhance last-mile delivery capabilities to remain competitive [9].

Core Insights - Li Guoqing announced the establishment of a new company, "Li Xiang Life," at the age of 60, focusing on high-end online membership retail [1] - The brand aims to create a quality lifestyle circle, emphasizing professional insight and competitive pricing [1] Group 1: Company Overview - "Li Xiang Life" will offer products including alcoholic beverages, ceramics, and handicrafts [1] - The company plans to serve only 5,000 premium members in its first year, with a pricing strategy that limits markup to 1.25 times the cost [1] Group 2: Business Strategy - The brand will focus on authenticity, ensuring products are from "true vintage and true production areas" [1] - Li Guoqing aims to leverage 30 years of experience in e-commerce to differentiate "Li Xiang Life" from typical online retailers [1]

12月15日，当当网创始人李国庆发视频宣布，自己将在60岁之际再创业，成立新公司"李享生活"，正式重回电商赛道。 t 60T 701 , VI V F y (1) ●●● A+每代的费叫 . 99 视频中，他喊话雷军，直言 "不止50岁是闯的年纪，老李60岁也当打"。 据李国庆介绍，"李享生活"定位线上高端会员店，主打品质生活圈层。 同时，他承诺商品加价率将严格控制在1.25倍，远低于行业水平，第一年计划仅服务5000个优质会员。 李国庆还预告，"李享生活"将在12月18日18:50开启直播开业酬宾活动。 | 生活 | | 李享生活（北京）网络科技有 限公司 | 十监控 | | --- | --- | --- | --- | | 存续 浏览:72 | | | | | 简介：李享生活 (北京) 网络科技有限公司，成立 | | | 评分 58 | | 于2025年，位于北京市，是一家以从事互联网和 | | | | | 相关服务为主的企业。企业注册资本100万 ... 更多 | | | | | 法定代表人 | | 注册资本 | 成立日期 | | 李雪梅 | | 100万人民币 | 2025.09.28 | | 20 ...

美团在即时零售领域的探索以美团闪购、小象超市和美团买药等业务为主。今年6月，美团宣布将全面 拓展即时零售，包括闪购业务将继续拓展品类，小象超市逐步拓展到所有一二线城市等。截至目前，小 象超市的服务网络已覆盖北京、上海、广州、深圳、武汉、南京、西安等全国30余地。 从电商行业趋势看，即时零售的存在感在加强。星图数据显示，今年双11期间即时零售销售额为670亿 元，同比增长138.4%。星图认为，即时零售业通过以高频带动低频的方式，突破增长瓶颈。美团闪购 数据显示，10月31日至11月11日，美团闪购平台成交额、下单用户数和人均消费金额创下新高，高单价 商品更快增长，带动用户人均消费金额增长近30%。同时，越来越多品牌入驻即时零售平台。例如，今 年双11是安踏、李宁、罗莱家纺等品牌上万家门店集体入驻美团闪购后的首次大促。 网经社电子商务研究中心特约研究员郭涛对此表示，即时零售的爆发标志着电商竞争进入"远场+近 场"混合新阶段。传统电商需强化"最后一公里"配送能力，本地商家通过即时零售打破地域限制，倒逼 传统电商升级供应链韧性。 美团的电商策略正随着市场发生改变：关注即时零售，淡化快递电商。团好货内部邮件显示，该业 ...