Latest news with #Eleme
Bloomberg
a day ago
- Business
- Bloomberg
JD.com Billionaire's Viral Stunt Reignites China's Food-Delivery Feud
One unusually warm evening in April, Richard Liu revved his scooter through Beijing's traffic-snarled streets alongside other delivery workers, and then personally handed food orders to surprised customers. Later that night, over spicy hotpot and ice-cold beer, the Inc. founder welcomed a pair of riders from two rival delivery firms to his company. The publicity stunt, broadcast on viral online videos, reignited a fight for China's $80 billion-plus food delivery market. In just a few months, JD, China's largest online retailer by revenue, amassed 25 million daily takeout orders across 350 cities, capturing more than half the volume of Alibaba Group Holding Ltd. 's the runner-up to market leader Meituan. Neither saw Liu coming.
South China Morning Post
a day ago
- Business
- South China Morning Post
Meituan's food delivery market dominance in China remains stable at 70%, report says
Meituan, the Chinese on-demand delivery giant, is maintaining a steady hold on its 70 per cent market share in domestic food delivery, despite intensifying competition from and Alibaba Group Holding 's as daily orders reached 90 million in recent days, according to a report by Chinese tech media outlet citing internal data. Meituan did not comment on the report. If confirmed, it would show the challenges Meituan's rivals face in changing consumer habits, after a price war broke out in the instant delivery market amid sluggish consumer spending in the world's second-largest economy. Daily orders on rival service have reached 25 million, the company announced on June 18. It launched a food delivery service in February, expanding its instant delivery offering, which aims to bring items to customers' doors typically within an hour. Alibaba said last month that the combined daily orders on and its Taobao Instant Commerce reached 40 million. Alibaba owns the South China Morning Post. Leiphone reported the numbers based on 'exclusively obtained' Meituan data. The delivery giant, founded by entrepreneur Wang Xing in 2010, has not publicly disclosed operational data. Since entering the food delivery market, billionaire founder Richard Liu Qiangdong has been aggressively recruiting delivery crew, even donning a delivery uniform himself and sharing hotpot with couriers.
CNA
26-05-2025
- Business
- CNA
Alibaba's new 'instant commerce' portal passes 40 million daily orders
SHANGHAI :Chinese e-commerce giant Alibaba said Monday that its Taobao Instant Commerce portal, which delivers items within 60 minutes, has surpassed 40 million daily orders within a month of launching. The portal brings merchants from Alibaba's food delivery arm onto its main domestic shopping app, Taobao, and is part of a broader move among Chinese online platforms in recent months to invest billions in so-called "instant retail".
Reuters
26-05-2025
- Business
- Reuters
Alibaba's new 'instant commerce' portal passes 40 million daily orders
SHANGHAI, May 26 (Reuters) - Chinese e-commerce giant Alibaba said Monday that its Taobao Instant Commerce portal, which delivers items within 60 minutes, has surpassed 40 million daily orders within a month of launching. The portal brings merchants from Alibaba's food delivery arm onto its main domestic shopping app, Taobao, and is part of a broader move among Chinese online platforms in recent months to invest billions in so-called "instant retail".
South China Morning Post
26-05-2025
- Business
- South China Morning Post
China's regulators must act quickly to stamp out price wars: People's Daily
China's Communist Party mouthpiece has run an editorial arguing that regulators must act decisively to prevent the spread of vicious 'neijuan-style' competition in the economy, as a frenzied battle for control of the country's vast food delivery sector stirs controversy. Advertisement Chinese authorities have repeatedly vowed to clamp down on neijuan – a term referring to a self-defeating cycle of excessive competition – in recent months, as businesses in a slew of industries launch intense price wars to win orders amid an economic slowdown. The trend has been most obvious in the food delivery sector, where the entry of tech giant has triggered a fierce battle for market share with incumbents Meituan and that is leading all three companies to invest huge sums to lure customers with heavy discounts and other special offers. Though these incentives can provide short-term benefits to consumers, the state-run People's Daily warned on Monday that such neijuan-style tactics ultimately harm a market's long-term development by squeezing profits and creating instability across the supply chain. The commentary said it was crucial for regulators to intervene in a timely manner to prevent such practices, noting with approval that China's State Administration for Market Regulation (SAMR) had recently summoned Meituan and to discuss problems in the food delivery sector. Advertisement 'To strike a balance between market forces and government oversight, regulators need to step in decisively when necessary,' the article stated. 'Regulators stepping in to restore fair competition is not about preventing rivalries, but guiding platforms away from destructive price wars so they pursue innovation, focus on product differentiation, and return to healthy, value-driven competition – the key to high-quality industry growth.'
