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美團騎手招募已開啓,香港外賣市場能否跑通?

1. 美團在中國香港的外賣業務已開始招募騎手,後續關注商戶端拓展、用戶端積累、業務擴散。自2022年10月以來,美團在中國香港開展外賣業務的路徑逐步推進,我們從公司策略和招聘行動發現:

  • 美團各項準備工作在穩步推進,目前騎手招募已經開始,總部崗位招聘已經開始部分下架;

  • 美團在中國香港已經有向到店方向拓展的跡象,更體現美團做中國香港市場的決心。 

2. 以外賣爲代表的本地生活業務在中國香港的市場規模不容小覷,但當前發展情況並不甚好,給新進入者提供了可能性,對於美團的進入,我們持審慎樂觀態度。

  • 通過對比地區基本經濟信息、市場規模、消費習慣,我們發現中國香港市場潛在空間或可對標上海市的規模,但外賣行業滲透率遠低於內地; 

  • 當前中國香港外賣市場兩個頭部平臺仍在膠着,對於需要規模效應的外賣業務而言,這意味着新進入者仍有突破的空間。

3. 若能打破單量瓶頸,中國香港的外賣市場或能跑通,關注美團成功經驗在中國香港地區的適用情況。 

  • 通過對頭部平臺運營方式以及UE的解析,我們認爲中國香港外賣市場不甚活躍的核心原因是配送效率不足導致整個系統無法達到高訂單量、低價格的穩態;

  • 美團自身在內地市場的成功運營體現了其在這一業務上的獨到能力,若其方法論移植中國香港市場順利,或許能夠成功打破市場的低迷現狀。 

風險提示:

1)新進入地區市場環境與政策環境差異風險;2)外賣業務競爭加劇風險;3)其他業務發展或成本控制不及預期風險。

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