At the beginning of the new year, the competition between Douyin and Meituan in the local life market is becoming increasingly fierce! According to Haitong International Research Report, Douyin's local life GTV reached 200 billion yuan in 2023, although it did not reach expectations, it has already put pressure on Meituan. Meituan Senior Vice President Zhang Chuan issued an internal letter emphasizing that this is a brutal trench warfare, and Meituan needs to respond around the strategy of "low price".

🤔 How did Douyin take the city? In 2023, the transaction volume of Douyin's local life service platform increased by 256%, and 4.5 million stores achieved business growth. Douyin's traffic pool, precise push and "store exploration" gameplay have attracted many new merchants.

🛡️ How does Meituan improve its defense? Meituan has stepped up its efforts in price wars, organizational changes, and other aspects, but the long-term effects remain to be seen.

🚀 Douyin's next battle is not easy. In the face of Meituan's determination to break the boat, Douyin's next battle will definitely not be easy. What do you think of this local life market competition? Welcome to discuss in the comments!