Key facts:
- The Chinese tech ecosystem’s big names have released some figures about their grocery sales for 2020, and they are impressive.
- Meituan, a food delivery startup, is now betting on groceries. It will expand to a thousand cities with a goal of less than 30 minutes deliveries. For that, it will develop its own logistics with new warehouses.
- In the meantime, Pinduoduo announced that it expects its grocery sales to double to more than $6B this year.
Why it matters – DigitalFoodLabβs opinion:
We donβt often hear about Chinaβs FoodTech ecosystem, but itβs with impressively huge figures when we do. This growth in online grocery sales indicates what a post-COVID world could look like in the West. COVID seems to have been a huge boost to the growth of these services, not just temporarily but also in the long term.
