文 | 窄播，作者 | 庞梦圆 2025是美团被迫重塑的一年。2024年快结束的时候，美团刚收获了一份营收、利润、新业务减亏等表现 均超出市场预期的Q3财报，摩根士丹利将美团视为接下来一年最有看点的中文互联网企业。但2025年 一开年，整个互联网就风起云涌，外卖大战极大影响了美团的发展节奏，也改变了它在整个互联网坐标 系中的位置。 它不再相对独立地存在于一个大的本地生活市场，与个别巨头弱交叉，维持着某种平衡。而是站在一个 更大的消费市场，与一个更大的巨头强交叉，且巨头的进攻威胁至今没有消除。 那么相应的，我们也应该用更大的坐标系来摆放美团的位置，用新的框架和标准，来理解在新坐标系里 的美团。 如今，美团仍是最懂本地生活的企业，它最差异化的能力，仍是如大摩所说，「通过精细化运营在低毛 利业务中实现盈利的能力」。 只是在业务拓展方式上，以前可以相对轻松地。用高频的外卖、单车等业务，带动低频但高毛利的团 购、酒旅业务，从而实现整体客单价、毛利率、营收、利润的增长。 但外卖大战之后，美团外卖的流量优势被削弱，除了外卖自己的收入、利润受到影响，连带着美团的商 业模式也受到影响，乃至影响整个公司的营收结构。 如此背景下， ...

小象超市首家线下店位于北京华联万柳购物中心。摄/搜狐科技 出品 | 搜狐科技 作者 | 张莹 提到万柳，外界首先想到的可能是高端住宅项目"万柳书院"。这里高净值、高知家庭集中，但2024年7月华联BHG生活超市闭店后，万柳一直缺乏稳定的大 型连锁超市。 美团就将小象超市的第一家线下店开在了这里。 有专家向搜狐科技指出，小象超市拓展线下实体店，可以与现有前置仓及线上即时零售业务形成协同，最终整合为"店仓网一体化"模式。这一模式也是中国 零售业的明显趋势。 据观察，小象超市的线下店类似盒马和物美胖改店的集合体——和盒马鲜生一样，有不少自有品牌商品，商品品类非常齐全；也和物美的胖改店一样，注重 服务、主打"烟火气"。 在小象超市首家线下体验店开业的不久前，美团宣布暂停团好货业务，原因是"快递电商难以承接即时零售用户的需求"。半年前，"美团优选"也进行了战略 转型，退出表现不佳的亏损区域。小象超市成为美团食杂零售业务的新希望。 盒马+胖改店=小象超市？ 小象超市的前身是美团于2019年上线的"美团买菜"，以纯前置仓模式起家。2023年12月，美团买菜升级为"小象超市"。 "今天的客流是昨天的1/3，昨天、前天推着车走 ...

山姆中国年销售破1400亿，同比暴涨40%；胖东来一年狂卖235亿；盒马整体营收同比增速超40%；奥乐齐疯狂开店30家；美团猛攻线下开超市；盒马、 美团、京东纷纷"杀入"硬折扣赛道......2025年，超市巨头们在中国市场火力全开。 2026年，超市巨头们继续猛踩油门，加速狂飙！赢商网梳理了7个超市企业9大品牌的2026年最新拓展计划，发现行业正迎来新的发展趋势：巨头加速下 沉"抢地盘"；自有商品浪潮汹涌；商超即时零售化（门店+前置仓模式）加速；硬折扣超市竞争白热化。 01. 山姆中国 ■ 2026年销售额要破2000亿，14家新店今年计划开业 2025年，山姆在中国进入"高速狂奔"的拓展模式，全年共开出10家新店，创下其入华以来年度开店数量最多的记录。 | | 山姆中国2025年内地新开门店 | | | --- | --- | --- | | 城市 | 门店 | 开业时间 | | 嘉兴 | 嘉兴店 | 3月20日 | | 合肥 | 合肥店 | 4月15日 | | 武汉 | 武汉江岸店 | 5月28日 | | 中山 | 中山店 | 9月10日 | | 苏州 | 张家港店 | 10月20日 | | 深圳 | ...

即时零售专家交流 20251228 摘要 京东计划收购叮咚买菜，旨在利用其现有基础设施和运营经验，快速拓 展线下零售市场，弥补自身在资金和流量上的短板，实现线上线下业务 的协同效应。 2025 年餐饮外卖市场预计 GMV 达 1.17-1.18 万亿元，同比增长 3- 4%，订单量预计增长 13-14%至 256 亿单，未来增长潜力在于提升线 上化率和优化用户体验。 到店消费市场增长显著，预计 2025 年 GMV 达 1.7-1.8 万亿元，同比增 长 21%，抖音在该领域表现突出，预计同比增长 48%，但线上化率仍 有较大提升空间。 抖音计划 2026 年推出本地生活专属 APP，结合视频优势、国家级资源 和 AI 互动推荐，旨在提升用户体验和转化率，增强市场竞争力。 美团"快乐猴"经营折扣商品，已开设 66 家店铺，单店日均销售额 30- 50 万元，目前微利，未来需更多自有品牌或尾货折扣商品以适应通缩环 境。 小象超市新店首周日均销售额达 150-160 万元，计划通过高性价比、生 鲜和自有品牌吸引顾客，覆盖一二线城市，扩展 SKU 至 1 万个品类。 公司超市业务 2024 年销售额约 300 亿元 ...

Core Insights - Meituan's Xiaoxiang Supermarket has opened its first offline store in Beijing, marking a significant shift from online to offline retailing, aiming to enhance customer experience and brand perception [1][13] Group 1: Store Experience and Offerings - The store features a lively atmosphere with a focus on fresh food and ready-to-eat (3R) products, which account for over 60% of the offerings, emphasizing the importance of immediate consumption in the supermarket's strategy [6][13] - Xiaoxiang Supermarket provides unique services such as free processing of seafood and meat, enhancing customer convenience and engagement [14] - The store's design caters to urban single users, offering products in smaller quantities, which differentiates it from competitors like Hema and Sam's Club [9][13] Group 2: Target Audience and Market Positioning - The supermarket targets middle-class consumers, particularly urban white-collar women, with products that emphasize health and quality, such as low-GI rice and specialty noodles [17] - The location in Wanliu, known for its affluent demographic, signals a strategic choice to attract a higher-end customer base [17] - Xiaoxiang Supermarket aims to establish itself as an experiential store rather than just a pickup point for online orders, contrasting with competitors that focus heavily on delivery [13][20] Group 3: Competitive Landscape and Future Outlook - The retail industry is shifting from channel competition to scenario competition, with Xiaoxiang Supermarket positioning itself to compete effectively against established players like Donglai and emerging brands like Pupu Supermarket [20] - The projected GMV for Xiaoxiang Supermarket in 2024 is close to 30 billion, indicating strong growth potential and competitive positioning in the market [20] - As online delivery options reach saturation, the value of offline stores is being recognized for their ability to provide tangible product experiences, which is becoming a key differentiator in retail competition [20]

Core Insights - The article discusses the shift of internet companies back to offline retail, emphasizing the importance of physical stores in the evolving retail landscape [5][6][31] - It highlights the different strategies employed by companies like JD's 7Fresh, Meituan's Xiaoxiang Supermarket, and Hema Fresh, each redefining the role of offline stores [24][31] Group 1: Reasons for Offline Return - Internet companies are returning to offline retail due to the limitations of online platforms in providing unique value, particularly in fresh produce and consumer trust [7][8] - The competition has shifted from efficiency to value, necessitating a physical presence to address issues of freshness, safety, and consumer experience [8][31] Group 2: Company Strategies - JD's 7Fresh aims to enhance user experience and supply chain authority by creating a tangible representation of its fresh standards [11][13] - Meituan's Xiaoxiang Supermarket focuses on establishing a physical touchpoint for high-value users and data collection, rather than merely selling products [15][18] - Hema Fresh is consolidating its network by filling gaps in instant delivery and stabilizing its high-end consumer base, moving towards a model of consistent output rather than extreme innovation [20][30] Group 3: Redefining Offline Retail - The article posits that offline stores are evolving from mere sales points to multi-functional nodes that facilitate fulfillment, trust, data collection, and lifestyle integration [24][31] - The new roles of offline stores include being a terminal for product sales, a fulfillment point for instant retail, a place for consumer trust, and a physical interface for data and branding [26][31] Group 4: Differentiation as a Survival Strategy - Traditional retailers must focus on differentiation rather than competing directly with online platforms, as the latter have advantages in scale, capital, and system efficiency [33][37] - The article emphasizes that successful offline models will likely center around fresh produce, processing, and private brands, which are challenging to replicate [40][41] - The essence of differentiation lies in long-term capabilities rather than short-term tactics, with a focus on what can be sustained over time [45]

Core Viewpoint - Meituan is undergoing significant restructuring in its grocery and snack business, focusing on expanding its successful offline stores while shutting down underperforming segments like Meituan E-commerce and Meituan Youxuan [1][2][7] Group 1: Business Adjustments - Meituan is closing its e-commerce operations and Meituan Youxuan, while expanding its successful Xiaoxiang supermarket chain, which has opened its first large offline store in Beijing [1] - The decision to halt the Tuanhaohuo business reflects a shift towards exploring new retail formats, as the existing B2C e-commerce model has not gained significant traction among users [2][6] - Meituan Youxuan, a major loss-making segment, is being scaled back, with reports indicating its closure in most regions, which could help reduce overall losses in Meituan's new business sector [7][9] Group 2: Performance and Strategy - The Xiaoxiang supermarket, which evolved from Meituan's previous grocery initiatives, has expanded to over 30 cities and is now positioned as a comprehensive instant retail platform [1][10] - Meituan's new business losses narrowed to 7.3 billion yuan in 2024, a 63.9% reduction year-on-year, indicating a positive trend following the adjustments made to underperforming segments [9] - The new Xiaoxiang store features a diverse product range and aims to enhance customer experience, positioning itself similarly to high-end competitors like Sam's Club and Hema [10][11]

以下文章来源于36氪未来消费 ，作者任彩茹 36氪未来消费 . 在这里看到消费的未来。36氪旗下官方账号。 小象超市线下店全面加速。 文 ｜ 任彩茹 编辑 ｜ 乔芊 来源｜ 36氪未来消费（ID：lslb168） 封面来源 ｜ 任彩茹 摄 "美团/大众点评团购商品"的标牌 团购商品中，最受欢迎的是14.9元的"大码鲜鸡蛋30枚1.8kg"。许多顾客一进店便到处张望着寻找鸡蛋区，"团购券在哪换"的声音此起彼伏，各处都有店员高 高举起"团购券问题请找我"的牌子。 上午11点左右，店内的人越来越多，门口已经有店员、保安拉起隔离带，引导顾客排队进场，每隔几分钟放行一批人。一位顾客刚进店，便向同行者"吐 槽"道："感觉人比产品多"。 "人比产品多" 12月19日，位于北京华联万柳购物中心B1层的小象超市"终于"开业，这是小象超市从线上向线下迈出的第一步。 开业首日，是第一场大考，除了本就配备的约百名店员外，美团的许多员工也来到店内"支援"，一些人戴着美团的黄色工牌，也有些人甚至看不出是工作人 员，门店外的休息区，时而出现抱着笔记本电脑工作的人。 这家店的营业时间从早上7点半到晚上10点。我们在8点左右走进华联购物中心， ...

Core Insights - Meituan's Xiaoxiang Supermarket aims to compete with Hema Fresh, Wumart's Pangu Store, and JD's Seven Fresh by targeting consumers with certain purchasing power and a demand for quality and shopping experience [1][15] - The offline store of Xiaoxiang Supermarket complements Meituan's existing online infrastructure, creating a competitive landscape against Hema [1][15] - The supermarket's strategy focuses on enhancing the shopping experience and leveraging supply chain advantages in fresh produce, alcohol, and prepared foods [1][6][12] Store Experience and Layout - Xiaoxiang Supermarket's layout and style are similar to Wumart's Pangu Store, emphasizing service details and cleanliness [1][2] - The store features a mix of standardized pre-packaged products and a rich variety of live seafood, along with a dining area and a bakery section [2][12] - The supermarket enhances customer service by providing tips on product selection and offering free services like steak cooking and melon peeling [4][12] Product Strategy - Xiaoxiang Supermarket emphasizes high-quality self-operated products, including strawberries, juices, and rice, while ensuring safety and quality through direct sourcing [6][8] - The product range is more extensive than Wumart's Pangu Store but still lags behind Hema in novelty and variety [8][10] - The introduction of third-party brands in the prepared food section creates a mini food market atmosphere [10][12] Competitive Landscape - Meituan's Xiaoxiang Supermarket and Happy Monkey discount stores form a three-tier structure in the fresh produce market, competing directly with Alibaba's Hema and its associated logistics [15][18] - The competition is framed within the broader trend of integrating online and offline retail, with fresh produce becoming a focal point for consumer demand [15][16] - The market is characterized by a shift towards medium-sized supermarkets replacing large hypermarkets, with a focus on unique experiences and high-quality offerings [21][23] Future Outlook - Meituan plans to expand Xiaoxiang Supermarket to all first- and second-tier cities, indicating a significant growth strategy [15][25] - The company aims to enhance its supply chain capabilities and product innovation to compete effectively against established players like Hema [25] - The ongoing competition in the fresh produce sector is expected to accelerate as consumer preferences evolve towards integrated shopping experiences [25]

Core Insights - The opening day of Meituan's Xiaoxiang Supermarket in Beijing saw over 10,000 visitors and estimated daily revenue exceeding 1 million yuan, indicating a strong consumer interest in the retail sector as online giants return to offline markets [1] Group 1: Store Location and Design - The location of Xiaoxiang Supermarket at Wanliu Hualian Shopping Center is strategically chosen, surrounded by 17 mid-to-high-end communities within a 3-kilometer radius, with an average household monthly income exceeding 20,000 yuan, aligning with Meituan's target demographic of quality-seeking middle-class consumers [3] - The store's design facilitates customer flow, with walking times from any entrance to the store not exceeding 3 minutes, enhancing accessibility and efficiency, which is crucial for instant retail [3] Group 2: Business Strategy - Meituan positions Xiaoxiang Supermarket as a "30-minute quick delivery supermarket," focusing on high-frequency consumer goods, which account for 65% of the store's offerings, significantly higher than traditional supermarkets [3] - The integration of online ordering with offline experience is becoming a trend, as consumers show preference for immediate delivery and competitive pricing, although the sustainability of promotional excitement remains uncertain [4] Group 3: Future of Instant Retail - The success of Xiaoxiang Supermarket reflects a broader trend where consumers are favoring a hybrid model of online ordering and offline experience, indicating a potential shift in retail dynamics [4] - The operational model of "front warehouses + physical stores" is being tested, showcasing a revolution in efficiency and redefining the "last mile" consumption scenario [4] - Each price tag in the supermarket represents a carefully designed consumer strategy, highlighting Meituan's ambitions in the retail sector and the ongoing evolution of new retail [4]