ChinaTravelNews – Group-buy portal Meituan achieved exponential growth in 2014, chalking up 180% y-o-y growth in transaction volume that exceeded RMB46 billion and 175% y-o-y increase in hotel transactions topping RMB5.5 billion for over 45 million nights.
Meituan holds 60% of the group-buy market with services covering 1,000 cities in China and membership skyrocketed to over 200 million users.
Mobile transactions accounted for 90% of Meituan’s total sales thanks to the growing popularity of mobile payment, and 80% of its hotel bookings are made through mobile devices. For 2015, Meituan projects turnover exceeding RMB100 billion, with comprehensive vertical development in its O2O operations in local lifestyle services covering cinema, hotel, dining, takeout services and more.(Translation by David)
