Chinese real estate brokerage company Lianjia entered Meituan’s group buying channel

Chinese media outlet Liujiu Finance reported on Monday that many Lianjia stores in Beijing have taken on the dual role of parcel delivery and pick-up stations for community group shopping platform Meituan. Youxuan. Lianjia is a popular Chinese real estate brokerage brand with nationwide presence.

Besides Lianjia, several real estate brokerage firms, such as Maitian Real Estate Agency and Centaline Property, had also cooperated with Meituan. Youxuan. Real estate agency stores in communities are expanding their business and improving store traffic through community group buying.

A Lianjia official said his store received multiple orders after logging in to Meituanthe community’s group buying business. Cooperation between Meituan and Lianjia has not been limited to a single store. Instead, the cooperation is at the company level, and the stores are the undertakers.

Real estate agency Maitian said that it is voluntary for some stores to enter the community group shopping function, but it is conducive for both sides to be strengthened by traffic.

In response to the cooperation, people close to Meituan said the business division of the group-buying community mainly works to strengthen the supply of livelihoods in Shanghai, and it is not yet clear for what level of cooperation. “Only stores in Beijing are currently affected. This is not yet the level of strategic cooperation,” a person familiar with the matter said. However, people familiar with the group said the cooperation between the two parties was a win-win deal.One side has the advantage of a fresh supply chain while the other side has the advantage of a large number of offline stores.

At the time when community group buying was booming, platforms such as ChengXin YouXuan paid special attention to real estate agents’ offline stores, which were located in the most densely populated residential areas and had geographical advantages. However, the cooperation between the community group purchases and the real estate agents ended quite randomly because the stores were not equipped with facilities such as refrigerators and freezers like the community fresh produce stores. Frequently, goods were damaged and customers complained.

The real estate market is running out of steam these days, but collective community buying is no longer in vogue. Both industries are involved with community residents and suffer the consequences of lack of demand. Industry analysts believe that Meituan and PinduoduoCommunity group purchases should be responsible for safeguarding livelihoods and social responsibility in the epidemic, rather than profitability.

SEE ALSO: Group shopping in the community in pandemic-hit Shanghai

For real estate agents, the cooling real estate market has also left agents in a bad position to do business. According to the latest earnings data from listed company KE Holdings, adjusted net profit in 2021 was 2.29 billion yuan ($359.8 million), down nearly 60% from 5 .72 billion yuan of the same period of 2020. In October last year, there were rumors of another personnel restructuring. Insiders revealed that the optimization mainly affected frontline real estate agents, with a total of more than 30,000 people laid off.