Perfection of Rebirth

Chapter 244 Group buying trend
Xiaomei is a third-year student at Shanghai University. Today is her birthday. According to the dormitory's practice, she needs to invite a few sisters in the dormitory and a few friends in the class to have dinner together tonight.

Xiaomei's parents are both working class. Although the family is not short of money, it is not considered rich. It is too expensive to go to those high-end restaurants for dinner, and it feels a bit cheap to go to the school's small restaurant, so I am struggling.

Wanting to check online to see if there are restaurants with high cost performance, Xiaomei saw a friend’s log on Xiaonei, saying that she went to a restaurant near the school last night to eat a group-buying restaurant. The food was delicious and the price was reasonable. Nearly [-]% cheaper than a la carte.Xiaomei seemed to have thought of something, and immediately clicked on the Meituan advertisement on the Xiaonei homepage, looked at the introduction above, and then clicked the link to go to the Meituan homepage.

In the food module of Meituan.com, Xiaomei saw the names of many familiar restaurants nearby. Although many of them have never been to them, they will remember them after passing by a lot.Looking at the various group buying packages above, it seems that those mid-range restaurants are not so expensive.

Compared with the past, Xiaomei chose a Dongting local restaurant not very far from the school. After registering online, she quickly completed the purchase of group purchase coupons by using the Guanghui payment that she had previously bound to her bank card.

In order to better serve users, in addition to strict merchant review, Meituan.com also took the lead in launching a series of consumer protection plans such as "unconditional refund if no consumption within 7 days" and "one-click refund if no consumption expires". It has formed a complete "group buying worry-free" consumer protection system, providing users with the most intimate rights and interests protection, exempting consumers from the worries of group buying, allowing consumers to easily buy group purchases and consume with confidence.

These measures were launched simultaneously with the establishment of offices across Meituan.com, which effectively expanded the consumer base of Meituan.com.

For the long-term development of the website, Jiang Hui has formulated a policy for Meituan: always follow the principle of consumers first, merchants second, and Meituan third, and attach importance to honest management.Various service measures are also operating around this policy. So far, there has been a set of basically complete systems to provide consumers with good prices, good products and good services.

The effective operation of these measures has made countless Xiaomei new users of Meituan.com.In just one week, the number of registered users of Meituan increased from 15 to 110 million, and the number is still increasing rapidly.

College students and urban white-collar workers are currently the largest user groups of Meituan. In order to allow users to enjoy more discounts in the early stage, Jiang Hui even fed back [-]% of Meituan's commission to the company in the form of coupons. Consumers are attracted, and activities such as registration and gift packages have been launched to attract more users to Meituan.com.

If you come, I will have a way to keep you.Eat, drink, have fun, there is always a product that suits you.In addition to food-related modules, Meituan also launched KTV, beauty salon and other modules quickly, attracting a lot of users.

……

an office building.

"Sister Ting, I saw the food photos you posted in Penguin Space, are you going to be cool again?".

"No, it only cost two hundred yuan last night."

"No way? I've been to that store too, and I ate 500 yuan casually."

"You must have been there a week ago. There is a group buying event in that store now. You can go to Meituan.com to buy a group buying coupon. There are set meals for two, four, and six. It's a good deal, at least it's cheaper than a la carte 40.00% of the money, if you get a coupon, it may be half the price.”

"Really? Is there any activity now?".

"Yes, but there are a lot of people going these two days, you'd better call and make an appointment in the store after group buying, don't go there and there will be no seats."

……

an office
"Awang, the Chaoshan beef ball shop at the entrance of your community is so popular. I passed by there these days and found that many people were waiting there."

"That store was already quite popular, but recently it held a group buying event with Meituan.com, and the price was reduced a lot, so the popularity became even more popular."

"Yesterday, I also went to group purchase coupons for a Japanese restaurant. Since I am a new user, Meituan.com sent several coupons. After consumption, there will be prizes. It only cost less than half of the usual money, which is a good deal.”

"Group buying is really a very quick idea. Originally, the profit of the catering industry is relatively high, but due to factors such as store rent and customer flow, it is impossible to reduce the price easily. Once this group buying activity is launched, the flow of people will increase, and the operating cost will drop rapidly. You can still earn a lot of money with a [-]% discount or a [-]% discount.”

"Indeed, a classmate of mine opened a Sichuan restaurant. According to him, the profit margin did not exceed 50.00%, so I am ashamed to say that I am engaged in catering."

"A high profit margin is high, but the premise is that the popularity must be strong, otherwise it will be useless no matter how high the profit of a single dish is."

"Yes, that's why the importance of group buying is more highlighted."

……

A restaurant participating in group buying
"Boss, yesterday's bill has been counted, please have a look."

"Wow, the turnover has reached 15, a record high."

"Yeah, yesterday was the weekend. From [-]:[-] am to [-]:[-] pm, the restaurant was in a queue for dining. Even if it was [-]:[-] pm to [-]:[-] pm, there were still many customers, and it started again from [-]:[-] to [-]:[-] pm You have to queue up to eat, and it doesn’t close until ten o’clock.”

"We used to have a turnover of [-] to [-] at most on weekends, but now it has increased several times. It seems that it is really right to participate in the group buying of Meituan."

"Yes, although the profit margin was high before, with a turnover of 15 to [-] yuan, we could earn at most [-] to [-] yuan; after participating in group buying, although the profit margin has dropped, we can still earn at least [-] yuan with a turnover of [-] yuan. Forty thousand. After the consumption of materials goes up, we can ask the manufacturers of the ingredients to give us preferential prices, so that our daily profit has doubled compared to before.”

"Haha, when the salary is paid this month, I will give each employee a red envelope. Everyone has worked hard."

"thank you boss".

……

The rapid development of Meituan has completely put down IDG Capital's worries.Before, I wondered if the valuation of 3 million would be too high, maybe other venture capitalists scolded my company as a bunch of idiots behind their backs.But as soon as the operating data of the last week came out, President Song of IDG Capital knew that this investment was the right investment. If other venture capitals want to enter Meituan.com now, they don’t even think about it without a valuation of [-] to [-] million. Think, the equivalent of IDG Capital's investment doubled in a week.There are very few venture capital projects with such high returns.This also strengthened their hearts to continue investing in other companies of the Guanghui Group.

(End of this chapter)