Meituan shifts focus from GMV to order volume amid declining sales · TechNode

China’s on-demand delivery giant Meituan has reportedly shifted its primary operational focus from pursuing GMV to increasing order volume in the second quarter, according to news outlet LatePost, as the company found a 10% to 20% drop in sales due to a continued decline in average transaction value. Meituan hopes to spur users to order more often with cheaper offerings, as the trend of pocket-strapped restaurant spending in the country grows severe. Earlier this month, Wang Puzhong, the chief executive of Meituan’s core local commerce, mentioned that four top-tier cities — Beijing, Shanghai, Guangzhou, and Shenzhen — have all seen negative growth in the number of newly opened restaurants. [LatePost, in Chinese]