online grocery market Archives

Meituan’s Community Grocery Unit to Conduct New Round of Adjustments

On May 15, it was reported that Meituan Youxuan, the community e-commerce business unit, will begin a new round of adjustments recently.

CEO of Alibaba’s Grocery Chain Freshippo Shares Views on Europe Trip

Hou Yi, the CEO of Alibaba-owned supermarket chain Freshippo, is currently on a trip to Europe to study local market conditions, including stops in France, Germany, Switzerland, and the UK. While traveling, Hou posted some of his feelings on Toutiao, a popular Chinese news and information platform.

Embattled Missfresh Conducts Business Restructuring Plan

Xu Zheng, the founder of Chinese fresh grocery e-commerce company Missfresh, which is caught up in a mounting capital crisis, has said that the firm is now intensively pushing forward a business restructuring plan.

Beijing Consumers Association Interviews Missfresh

The Beijing Consumers Association had scheduled a meeting with Beijing-based grocery delivery platform Missfresh, regarding the recent situation that the company could not continue its normal operations and which caused many consumer complaints.

ByteDance’s Douyin Denies Rumors of Acquiring Missfresh

On August 4, the stock price of Nasdaq-listed retailer Missfresh rose rapidly before the close of trading, posting an increase of more than 160%, amid market rumors that ByteDance's Douyin is considering an acquisition.

Missfresh CEO Xu Zheng Refutes Funding Rumors

On August 2, Xu Zheng, founder and CEO of Missfresh, published a message on his personal social media account that denied rumors that Missfresh, a fresh food e-commerce platform, had a broken capital chain and was unable to operate.

Missfresh Responds to Closure of Rapid Delivery Services

The app of Chinese grocery e-commerce platform Missfresh now shows that its 30-minute delivery service has been replaced with next-day delivery in Beijing, Tianjin, and Shanghai.

Missfresh Considers Selling the Equity of Smart Fresh Market Business

Missfresh, a Chinese fresh food e-commerce platform, plans to sell part of its business of providing business consulting and online shop construction services for merchants of fresh agricultural products, so as to solve one of its operational dilemmas.

E-Commerce Platform Missfresh Completes Strategic Financing of $29M

Missfresh, a Chinese fresh food e-commerce platform, announced on Friday that it has reached a strategic investment cooperation agreement with Shanxi Donghui Group, which plans to invest equity worth 200 million yuan ($29.58 million).

Alibaba’s Grocery Chain Freshippo Seeks Financing

Alibaba's grocery chain Freshippo is reportedly seeking to raise funds at a valuation of about $6 billion, much lower than a hoped-for valuation of up to $10 billion earlier this year.

Grocery E-Commerce Firm Missfresh Discloses Revenue Miscalculations

Missfresh, a grocery e-commerce platform based in China, recently identified certain transactions carried out by its Next-Day Delivery BU in 2021 that exhibited characteristics suggesting questionable transactions.

Back to Normal in a Few Days: Hema Fresh CEO Hou Yi

Shanghai is making every effort to accelerate its economic recovery. Hou Yi, CEO of Hema Fresh, said that nearly 80% of the company's stores have resumed online operations.

Three Major Business Departments of Meituan Reportedly to Conduct Layoffs

Reports have surfaced in Chinese media lately alleging that Meituan has initiated a round of layoffs covering its online ride-hailing department, its grocery e-commerce platform Youxuan, and its hotel and travel division.

Grocery-Buying Platform Dingdong Maicai Launches Food Safety Investigations

A warehouse operated by grocery-buying platform Dingdong Maicai in the capital city's Haidian District cheated consumers by claiming dead fish were fresh and fabricating labels.

Chinese E-Grocer Missfresh Bolsters Upstream Supply Chains Through Private Brands and Direct Sourcing

Missfresh is stepping up to improve profitability by developing in-house labels and expanding the scale of direct sourcing as the main problem China’s online grocery sector faces has changed from the last-mile logistics to the first-mile supply chain.

China’s Community Group-Buying Players Are Facing a Reshuffle, Signaling the End of the Fast-Growth, Cash-Burning Bubble Blown by the Country’s Big Tech

With several top players withdrawing from the competition, the bloated market is entering a new phase of consolidation.