E95: How Meituan overtook FoodPanda in Hong Kong, and what’s next?
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Earlier in September, Meituan went live in Saudi Arabia under its global brand, Keeta. 

This comes more than a year after Meituan entered its first overseas market, Hong Kong, where it quickly overtook established players like Foodpanda, becoming the market leader in order volume due to aggressive promotions and a focus on low Average Order Value (AOV) meals.

Now, Meituan is entering Saudi Arabia, a promising market for food delivery but one that presents unique cultural and operational dynamics for Meituan compared to its previous markets. And unlike many Chinese tech companies going global, Meituan faces the challenge of being an operationally heavy business. 

Will Tony Qiu, Head of International Business at Meituan and former lead of DiDi’s expansion in Latin America, be able to navigate these complexities?

Tune in to the latest episode of the Impulso Podcast as we explore Meituan's global expansion strategy, and what’s next for the food delivery giant.

Chapters:

0:00 Intro

1:50 Is food in Hong Kong more expensive than Singapore?

5:58 Rise of two dish rice in Hong Kong

6:50 Meituan’s Keeta wins in Hong Kong?

11:00 What is rival Foodpanda doing?

12:15 Low AOV as a market entry strategy

14:18 Meituan’s expansion into Saudi Arabia

24:50 Why did Meituan’s share price rise?

*Featured materials: *

Meituan is entering Hong Kong, will it beat Foodpanda and Deliveroo there?, The Low Down)

Meituan becomes top food delivery player in Hong Kong, The Low Down)

Watch Out! KeeTa’s Rapid Rise in Hong Kong, measurable.ai)

Total Restaurant Receipts and Restaurant Purchases, Hong Kong Government)

McDonald’s to increase prices in Hong Kong by about 2.6% in new year, South China Morning Post)

Will Meituan beat DeliveryHero in Saudi Arabia?, The Low Down)

Meituan launches in Saudi Arabia, where next?, The Low Down)

Should Meituan acquire Foodpanda?, The Low Down)

In focus: food delivery platforms in Southeast Asia, Momentum Works)**

Picture Sources:

https://www.scmp.com/lifestyle/food-drink/article/3199243/two-dish-rice-cheap-fabulously-rich-and-hong-kong-icon-time-declare-it-part-citys-intangible)

https://www.asiaone.com/lifestyle/lifehack-teaches-you-how-order-cai-fan-pro)