Not optimistic. $MEITUAN-W (03690.HK)$ Currently, there are two food delivery platforms, Foodpanda and Deliveroo, in operation in Hong Kong, with these two platforms occupying over 90% of the Hong Kong food delivery market share.
Previously, Uber Eats attempted to enter the Hong Kong market in 2016, but after years of operation, the market share remained around 5%, and ultimately announced the closure of its food delivery business in Hong Kong at the end of 2021, shifting its focus to Uber's own transportation business.
According to the Hong Kong Economic Times, Meituan has officially entered the Hong Kong market, with recruitment information indicating that Meituan has placed recruitment advertisements on multiple channels and officially started recruiting delivery drivers in recent days. Sources revealed that recruiting delivery drivers is an important first step in preparation, and it is believed that Meituan will formally launch its food delivery service within a few months.
Based on industry standards, delivery of approximately two orders per hour, assuming delivery drivers complete 500 orders in a month and receive all rewards, foot soldiers' income can exceed twenty thousand, while couriers can earn as much as 0.035 million Hong Kong dollars. According to this calculation, the average income per order during the probationary period will be nearly 20% higher than the industry average.
Mainland dining delivery market has entered a period of intense competition, in addition to Meituan and Ele.me, Douyin has also set its sights on this multi-billion-dollar cake. Earlier, Titanium Media reported that Douyin will fully launch the delivery business on March 1 this year, although Douyin denied it, it also raised Meituan's vigilance.
$BABA-W (09988.HK)$