Meituan CEO declares instant retail enters ‘product era’, forecasts millions of new goods per district
At the 2026 Meituan Instant Retail Industry Conference on September 22, CEO Wang Puzhong stated that instant retail has passed the hardest stage of demand cultivation and network deployment, moving from the “store-warehouse-delivery era” into the “product era.” He revealed that a 2021 forecast of a 1 trillion yuan market and 500 million transaction users was achieved early, and a 2024 target of 100,000 lightning warehouses by 2027 is also on track. Wang forecast adding one million high-quality products per business district nationwide over three years.
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Cross-source coverage
Common ground
- Both sides agree that Meituan provides real infrastructure and access to customers that small merchants couldn't get on their own.
- Both acknowledge that China's platform economy operates differently from Western markets, with more state coordination and strategic consolidation.
- Both recognize that Meituan's instant retail network is a significant achievement in terms of scale and consumer demand.
Points of contention
- Eastern Agent sees Meituan's dominance as a healthy ecosystem, while Neutral Agent calls it a monopsony that squeezes merchants with high commissions.
- Eastern Agent argues profitability isn't the only measure of success, while Neutral Agent insists it's essential for long-term sustainability.
- Eastern Agent views the trillion yuan GMV figure as proof of real economic activity, while Neutral Agent says it's inflated by double-counting and low-margin items.
- Eastern Agent believes regulatory alignment is a strong moat, while Neutral Agent warns it can be revoked anytime, like with Ant Group.
Blind spots
- Both sides overlook the working conditions and earnings of delivery workers, who are a key part of the instant retail ecosystem.
- Neither side fully addresses the environmental impact of millions of daily deliveries, including packaging waste and carbon emissions.
- The discussion ignores how smaller cities and rural areas might be left behind if instant retail only focuses on profitable urban districts.
WorldAttention’s read
Meituan's instant retail story is real but incomplete. The company has built impressive infrastructure and serves genuine consumer demand, especially by giving small merchants access to customers they couldn't reach otherwise. However, the business model's long-term health is still unproven—profitability remains elusive, the trillion yuan GMV figure is inflated, and merchants face high commission rates that squeeze their margins. While Eastern Agent makes a strong case for China's different development model and regulatory alignment, Neutral Agent rightly pushes for hard numbers on sustainability. The truth lies in between: Meituan is creating real value, but whether that value can translate into lasting profits without relying on cross-subsidies or exploiting merchants and workers is still an open question.
Reporting timeline
Meituan Local Commerce CEO: Instant Retail Has Passed the Hardest Stage of Demand and Network Building
Wang Puzhong, CEO of Meituan's core local commerce business, stated at the 2026 Meituan Instant Retail Industry Conference that the instant retail sector has already overcome the most difficult phase of demand cultivation and network deployment. He said the next step is to move from the 'store-warehouse-distribution era' into the 'product era.' The remarks were reported by Jinshi Data on September 22, citing an article from Jiemian. The forecast reflects the company's strategic outlook on the evolution of the instant retail market.
Read sourceMeituan CEO Wang Puzhong: Instant Retail Enters 'Product Era', Adding Millions of Goods per Business District
At the 2026 Meituan Instant Retail Industry Conference, Meituan's core local commerce CEO Wang Puzhong stated that instant retail has passed the most difficult stage of demand cultivation and network deployment, and is now moving from the 'store-warehouse-delivery era' into the 'product era.' He noted that infrastructure such as flash warehouses has enabled consumers to enjoy high-convenience lifestyles, such as not needing to pack luggage before travel or accessing diverse cold beer at gatherings. Wang explained that the growth of instant retail now relies on a positive cycle among consumer demand, distribution networks, and product innovation, with the growth driver shifting from supply-side infrastructure to the products themselves. He forecast that over the next three years, the instant retail industry will add one million high-quality products to every business district nationwide, which will become the primary growth engine for instant retail and a major opportunity for brands and retailers. Meituan plans to collaborate with brand and retail partners to distribute these products across all business districts and to consumers.
Read sourceMeituan CEO Says 2021 Instant Retail Forecast Achieved Early, 2027 Target Also on Track
At the 2026 Meituan Instant Retail Industry Conference, Wang Puzhong, CEO of Meituan's Core Local Commerce division, delivered a speech reviewing the development of the instant retail sector over the past five years. He revealed that the 2021 forecast that the instant retail market would reach 1 trillion yuan in size and exceed 500 million transaction users within five years has been achieved ahead of schedule. Wang also discussed a 2024 target to build 100,000 'lightning warehouses' by 2027, aiming for 200 billion yuan in Gross Merchandise Value (GMV). He stated that based on current data, this target can also be completed ahead of schedule. The speech provides an optimistic outlook on the growth of Meituan's instant retail business.
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Meituan CEO Wang Puzhong: Instant Retail Has Passed the Hardest Stage of Demand and Network Building
On September 22, at the 2026 Meituan Instant Retail Industry Conference, Wang Puzhong, CEO of Meituan's core local commerce business, stated that instant retail has already passed the most difficult phase of demand cultivation and network deployment. He said the next stage is to move from the 'store-warehouse-delivery era' into the 'product era.' The remarks were reported by Jiemian News and republished by East Money. The statement reflects Meituan's strategic outlook on the evolution of its instant retail business, indicating a shift in focus from infrastructure building to product and assortment optimization.
Read sourceMeituan CEO Wang Puzhong: Instant Retail Enters 'Product Era', Adding Millions of Goods per Business District
On September 22, Meituan Flash Sales held the 2026 Meituan Instant Retail Industry Conference under the theme 'Product NEXT'. Meituan's core local commerce CEO, Wang Puzhong, stated that instant retail has passed the most difficult stage of demand cultivation and network deployment, and is now moving from the 'store-warehouse-distribution era' into the 'product era'. Wang noted that through infrastructure such as Lightning Warehouses, consumers can now enjoy spontaneous consumption without pre-planning. He argued that the growth of instant retail comes from a positive cycle among consumer demand, the store-warehouse-distribution network, and product innovation. As demand becomes more frequent and the network matures, product innovation expands. Wang forecast that over the next three years, the instant retail industry will add one million high-quality products to every business district nationwide, which he described as the primary driver of continued growth and the biggest opportunity for brands and retailers. Meituan plans to collaborate with all brand and retail partners to distribute these products to every business district and deliver them to every user.
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