Before reading this article, please click on theFollowIt not only facilitates your discussion and sharing, but also brings you a different sense of participation. Thank you for your support!Source/007 from the financial industryAuthor/007 from the financial industryMeituan is also going to grab Tiktok's job

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• Source/007 from the financial industry
• Author/007 from the financial industry

Meituan is also going to grab Tiktok's job.

Recently, a careful netizen discovered that Meituan Live has a first level entry on the homepage of the app. In addition to the official live broadcast room of Meituan, you can also see live broadcasts from major merchant stores by clicking in. At this point, live streaming business has become the focus of Meituan.

Source: Meituan APP

However, it needs to be considered that for Meituan, which is "out of stock and out of stock", what can attract users to stay?

01. Incoming live streaming has a long history

At present, Meituan live broadcast is mainly official live broadcast, supplemented by merchants' own live broadcast.

Opening the Meituan live streaming entrance on the selection page is not difficult to find. The first thing that catches your eye is the official live streaming room of the Divine Coupon Festival, as well as the live streaming rooms for buying medicine, traveling, and group buying. If you scroll down, you can see the live streaming rooms of other delivery merchants. Through the live streaming, you can purchase various related products and services, covering multiple categories such as delivery, leisure and entertainment, hotels, and travel.

Source: Meituan APP

Meituan officially stated that the establishment of a separate entrance on the homepage is to facilitate users to experience the latest live content faster, thereby improving consumption conversion rates. Currently, Meituan Live is still in the testing process and will be further improved based on user and merchant feedback, while also attracting more merchants to participate in the live broadcast.

In fact, insiders have previously revealed that Meituan had discussed whether to launch live streaming services as early as 2020, when live streaming e-commerce was just becoming popular.

In July of the same year, Meituan held a grand "One Thousand and One Nights" live travel activity, but because Meituan users were not used to this way at that time, it did not cause much response.

Image source: Meituan Official Weibo

However, Meituan did not give up the live broadcast business, especially seeing that Tiktok has gradually grown into the dominant content e-commerce business through live broadcast, which strengthened this belief.

Last April, Meituan launched a live streaming assistant, aiming to provide broadcasting tools to merchants and influencers, solve technical problems, etc; Last year in the fourth quarter, Meituan established an independent live streaming team, responsible for not only the infrastructure construction related to live streaming, but also some live streaming content.

Finally, in March of this year, Meituan Live was officially launched. In April, Meituan Delivery launched the "Divine Voucher Festival" event, launching its live broadcast debut and achieving a year-on-year increase of nearly 50% in order volume. In June, Meituan announced that it would build a live streaming platform to further explore diverse forms of live streaming.

From testing the water to sticking to it, and then to adding a level of entrance to the live broadcast track, Meituan has obviously upgraded the live broadcast to a strategic level, and is determined to prepare to compete with Tiktok.

02. Two way travel with Tiktok?

After careful observation, it is not difficult to find that in recent years, from merchants to users, from group buying to takeout, Tiktok has been trying to steal food from Meituan, the local life overlord.

As early as March 2020, Tiktok launched group buying services, and then tried to open up more areas of local life through cooperation, acquisition and other means. At the beginning of March this year, the launch of the take out business triggered a heated debate, and the argument about Tiktok's invasion into the hinterland of Meituan was endless.

Source: Tiktok APP

Tiktok's actions undoubtedly made Meituan feel anxious. In order to fight back, Meituan's biggest move was to focus on the live broadcast field, thus realizing the two-way rush with Tiktok.

In essence, the focus of competition between Meituan and Tiktok is still on local life.It is not an exaggeration to say that in the past few years, local life has become one of the hottest tracks in various industries.

According to relevant research reports, the scale of China's local living market reached 3.8 trillion yuan in 2022, a year-on-year increase of 23.5%. Among them, multiple fields including catering, takeout, leisure and entertainment have shown a trend of rapid growth.

The industry is thriving, and businesses naturally won't miss out on online traffic opportunities, starting to attract more users through live streaming.

The simplest case is that various traditional channels, such as hotels and travel agencies, have appeared in live streaming rooms, attracting users to place orders with various discounts on package tickets, free refunds upon expiration, and other conditions, directly increasing sales.

To a large extent, Meituan also wants to stabilize its Political base in store business by engaging in live broadcast.

Image source: Meituan Delivery Official Weibo

After all, whether it's leisure entertainment or food and beverage travel, it's always necessary to go to offline stores for consumption. Online live streaming business can also open up more sales channels for merchants. If businesses choose to invest in Tiktok in order to attract more traffic, it is bound to cause a heavy blow to Meituan.

Regarding this, some merchants said, "The current situation is actually something they like to see. Only when platforms compete with each other can merchants truly be valued. Because under the premise of platform monopoly, we actually do not have much say

Can Meituan do a good live broadcast?

As the saying goes, shopping platforms can make targeted users firmly place orders, but content platforms can retain users for a long time.

This is actually the biggest disadvantage of Meituan compared with Tiktok. In fact, Meituan does not have much advantage in both live streaming infrastructure and platform content.

Data shows that by the end of 2022, the number of Tiktok users has approached 850 million, and the number of daily active users has exceeded 700 million. Even for many users, Tiktok is one of the apps that must be opened every day. Among them, young consumers aged 24-30 account for as much as 40%, which is highly compatible with the takeout group. This is also the key to many people's optimism about Tiktok's takeout.

Source: Tiktok official microblog

However, although Meituan has not been able to lead through the live broadcast content, it does not mean that it will fall behind in the competition with Tiktok.

For Meituan, the biggest advantage is that after years of cultivating the market, it has attracted a large number of users with clear consumption goals. Although the duration of stay cannot be compared to content platforms, most users who open Meituan have clear needs and transaction rates are also quite high.

This method can enable users to quickly accept the Meituan live streaming function, and can also place orders decisively based on needs after multiple comparisons.

In addition, Meituan has an advantage that it is difficult to catch up with Tiktok in the short term, which is the accumulation of merchants. According to the data, as of October last year, the number of active businesses in Tiktok's local life was 250000, while the number of active businesses in Meituan reached 3.78 million at the same time, which was totally different.

In addition, Meituan has formed a stable operating system between users and merchants over the years, and its performance ability can also be considered first-class.

Image source: Meituan Official Weibo

At present, the biggest problem facing Meituan Live is the lack of high-quality content.This may be a lesson from the already successful Shenpin Festival event, after all, the previous Shenpin Festival event, Meituan Delivery, invited many popular stars and influencers, and ultimately delivered a remarkable sales revenue of 150 million yuan for the package.

Industry insiders believe that high-quality content mainly comes from the support of anchors and platform traffic. If we can attract a group of powerful anchors to settle in, with Meituan's strong supply chain system, we may be able to quickly get started.

From this point of view, Meituan's entry into the live broadcast to compete with Tiktok has just begun.

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