Meituan “food delivery business maintained its robust growth momentum. Especially, its peak daily order volume reached new record high to 78 million in the summer, double the level of three years ago,” said Xing Wang, Meituan founder and CEO, on 3Q 2023 earnings conference call.

Meituan Instashopping grew strongly in Q3, with order volume, merchant base, and user base all increasing notably. Order volume reached “a peak of over 13 million daily orders on Chinese Valentine's Day in August,” Wang said.

Meituan “in-store, hotel and travel business maintained its strong growth momentum since the beginning of this year,” Wang said. GTV increased by over 90% YoY, Quarterly Active Merchants grew by over 50% YoY, and Quarterly Transacting Users also increased substantially.

“We will adapt to the evolving consumption trends, iterate our products and operational strategies, and provide consumers with more cost-effective goods and services,” Wang concluded.

During 2023, Meituan has achieved healthy and high-quality growth in core businesses. Meituan “effectively satisfied diverse needs from consumers and invigorated local consumption,” said Xing Wang, Meituan founder and CEO, on 4Q 2023 earnings conference call.

“Having food and meals delivered in 30 minutes has become a new lifestyle. Throughout the year, we proactively iterated our business strategies and refined our operations in products, marketing and supply to cope with the evolving consumption trends,” Wang said. #fooddelivery

In 2023, order volume of Meituan Instashopping increased by over 40%, and Annual Active Merchants grew by almost 30% year over year. Purchase frequency from core users grew by 20% in Q4, Wang said.

Meituan Select further improved operational efficiency on year-over-year basis in 2023. “By the end of 2023, we have accumulated over 500 million transacting users. This new user base may bring more cross-sell opportunities to the platform in the future,” Wang said.