ByteDance is trying to take a bite of Meituan's cake
source link: https://technode.com/2021/03/18/bytedance-is-trying-to-take-a-bite-of-meituans-cake/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
A few years ago, ByteDance was a media company. Now it's moving from e-commerce into restaurant coupons.
ByteDance is on its way to building a business empire encompassing nearly every aspect of Chinese consumers' daily lives. With core competency in content aggregation, the TikTok parent company has already expanded to entertainment, e-commerce, productivity, gaming, education, competing head-on with big names like Tencent, Baidu, and Alibaba.
The tech giant recently accelerated its foray into local lifestyle, a RMB 1.3 trillion (around $199.9 billion) market that is dominated by long-standing incumbent Meituan, which operates two of China's largest local lifestyle apps, Meituan and Dianping. Local lifestyle is a catch-all term for in-person services such as restaurants, movies, entertainment, and beauty care. Tech companies engaged in these areas typically adopt the O2O, or online-to-offline model, which entices online consumers to make purchases of goods or services from bricks-and-mortar stores by leveraging location-based features.
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK