Meituan Choose and Duoduo Maicai, the 2 important gamers in China’s neighborhood group-buying subject, have each seen narrowed losses final 12 months as cost-reducing measures continued. In accordance with the native media outlet LatePost, the 2 contributors have shifted their precedence targets to profitability as a substitute of chasing market share, as the potential for reaching vital progress like in previous years has diminished. The report mentioned Meituan Choose plans to restrict losses to between RMB 10 billion and RMB 12 billion in 2024, whereas for its half, PDD’s grocery unit hopes to chop labor prices in half to round RMB 2 billion. [LatePost, in Chinese]
