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Under the background of the stock market, it is difficult for the home appliance industry to ignite the hot sales boiling point, and the ecology of accelerating "involution" in order to compete for the shrinking traditional market share has not changed. From the demand side, new business models such as the lazy economy and social media economy are providing new growth points for the market, and home appliance companies are also looking for new breakthroughs from the channel side and the user side. Recently, Midea has seized the industry trend and reached a strategic cooperation with Meituan, entering 25,000 stores and jointly building a trade-in platform.

Meituan Vice President Kai Li, Midea Group China Vice President Liu Huaili, Meituan LE Business Department Head Cheng Zhi, Midea Group Home Appliances Domestic Marketing General Manager Fu Zhenlong, Meituan Flash Purchase Non-Food Specialty Business Department Head Wang Chao, Midea Group Microwave and Cleaning Appliances Domestic Marketing General Manager Wang Chen, etc., all attended the signing ceremony.

On one side is the leading brand in all categories of the home appliance industry, and on the other side is a leader in the field of local life services. The cooperation between Midea and Meituan this time can be described as a powerful combination. The two parties use a "combination punch" of "resource sharing + deepening and expanding diversified channels" to build a key path to reach the core needs of users and bring the company's operational efficiency to a new level.

Enhance user experience and innovate sales models

At a time when user experience has become a consumer trend, whether companies can break away from conventional sales thinking and turn their attention to the needs and experiences of end consumers is a watershed that determines whether the company can gain long-term growth opportunities.

Midea continues its "user-centric" approach, and has entered 25,000 stores on Meituan, launching "recycling subsidies" and "new subsidies" and other group purchase coupons for old-for-new exchanges, giving full benefits to users. At the same time, Midea combines Meituan's social media platform attributes and Meituan's flash purchase instant consumption function, and innovates the e-commerce delivery service logic of "direct purchase in store", "purchase coupons and use in store", and "store delivery to home", providing delivery and installation services in the field of large appliances such as air conditioners, realizing "everything at home in 30 minutes".

In addition, the cooperation with Meituan also adds momentum to Midea's "trade-in" program. When searching for "trade-in" services on the platform, consumers can find preferential activities at the "Midea Smart Home" online store nearby, complete the purchase of new devices, evaluation of old devices, exchange of old devices for money after store evaluation, purchase of new devices, and recycling of old devices, and enjoy a truly "one-stop" service.

Expand sales channels and renew business models

In the fiercely competitive ecosystem of the stock market, from attracting new users to retaining existing users, every choice of users is extremely important. Finding the "source of fresh water" of users is the key to "blowing away the sand to find gold".

Midea has always been a leader in channel expansion and reform in the home appliance industry. This time, it chose Meituan as its partner, starting from the field of local life services, expanding the market scale of sinking channels, and ultimately achieving effective coverage of the entire market, bringing greater potential growth points. At the same time, Midea will reach more potential high-quality users and form a positive interaction with users.

At a time when online and offline are accelerating their integration, Midea has devoted itself to creating a new retail OMO model, pulling online traffic to offline, and has successfully achieved online and offline user and data sharing, as well as commodity and marketing interconnection. We believe that with the support of Meituan's algorithm, it will be even more powerful and accelerate the digital transformation of physical retail stores.

Expand the smart business ecosystem and create brand synergy

Faced with the decline of consumer enthusiasm in the stock market, the concerted efforts of strong brands are becoming the "spark" to break through the current bottleneck of reality. As a leading brand in the home appliance industry, Midea's cross-border cooperation with Meituan will further optimize resource allocation, deeply integrate smart home appliance products with Meituan's life service platform, and expand and optimize the smart business ecosystem.

The win-win collaboration between Midea and Meituan sends a positive signal to the industry. Through the new approach of win-win cooperation with multiple platforms, Midea will fully tap into future market growth opportunities and provide new ideas for the home appliance industry to explore structural reform and transformation.