China’s on-demand delivery giant Meituan has reportedly shifted its primary operational focus from pursuing GMV to increasing order volume in the second quarter,Watch Young & Beautiful Vol. 10 Online according to news outlet LatePost, as the company found a 10% to 20% drop in sales due to a continued decline in average transaction value. Meituan hopes to spur users to order more often with cheaper offerings, as the trend of pocket-strapped restaurant spending in the country grows severe. Earlier this month, Wang Puzhong, the chief executive of Meituan’s core local commerce, mentioned that four top-tier cities — Beijing, Shanghai, Guangzhou, and Shenzhen — have all seen negative growth in the number of newly opened restaurants. [LatePost, in Chinese]
