Meituan, mainland China’s top on-demand delivery giant, said on Sunday that daily orders on its platform have surged to another all-time high – a sign that the company has managed to fend off competition from rivals like JD.com and Alibaba Group Holding.
The Beijing-based company said daily transactions had reached 150 million, just days after surpassing 120 million last week.
The firm’s record daily orders for both food and retail goods delivery comes at a time when major Chinese e-commerce players are investing heavily to boost transaction volumes in the instant delivery market.
Meituan founder and CEO Wang Xing told analysts in a post-earnings call in March that the company would do “whatever it takes to win” in the instant delivery market, where the competition has intensified in recent months.
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‘We’re quite helpless’: why Chinese delivery drivers are at their breaking point
‘We’re quite helpless’: why Chinese delivery drivers are at their breaking point
Wang said that the company would invest 100 billion yuan (US$13.9 billion) in the food service industry to “support merchants across various categories as well as to boost consumer demand”.
His comments came after cross-town rival JD.com launched the first salvo in the mainland’s food delivery market, stepping into a segment that has long been dominated by Meituan.
