At Meituan’s Beijing headquarters, managers meet weekly to run a crucial exercise: estimating how much their rivals will burn on ecommerce delivery subsidies — and how aggressively they must respond.
Fierce competition from tech giants JD.com and Alibaba for China’s fast-growing instant retail market this year has resulted in a brutal subsidy war where Meituan has rushed to bankroll coupons for burgers and sugary drinks to defend its dominance.
Goldman Sachs analysts estimate that Meituan will lose on average about Rmb1 for every instant delivery order this year, helping to push it to a third-quarter loss of Rmb16bn — its largest since going public in 2018.
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