- Meituan (OTC:MPNGY), famed as the "Amazon.com Inc (NASDAQ:AMZN) of services" in China, looked to expand its bouquet of services, tech node reports.
- The giant service app, whose services ranged from food delivery to travel booking, expanded to selling physical goods akin to Amazon.
- Meituan's latest move fired up rivalry against China's domestic retail giants like Alibaba Group Holding Ltd (NYSE: BABA), JD.com Inc (NASDAQ: JD), and Pinduoduo Inc (NASDAQ: PDD).
- Douyin and Kuaishou's debut had already rendered the Chinese e-commerce market more fragmented than when Alibaba, JD, Pinduoduo purely ruled it.
- Starting by selling food and beverages, Meituan now looked to become a comprehensive e-commerce platform to win a larger share of China's trillion-dollar online retail market.
- Meituan looked to move beyond the daily services (food deliveries) and groceries to tangible goods like consumer electronics, cosmetics, and clothing.
