Alibaba, Tencent, Meituan: the Internet giants step up the layout of SaaS market in the food and beverage industry

Jul 17, 2020 Alibaba Group Tencent

With investment waning in the wake of the epidemic, the enterprise service market has instead seen a spring in its step.

The data shows that the enterprise services market accounted for one-sixth of the 634 investments in the new economy field in the first quarter of this year. In April, Zhu Xiaohu, known as the unicorn catcher, also made a public statement: "The emergence of SARS 17 years ago boosted the growth of e-commerce, and this year's epidemic could also be a turning point for the business services industry. Enterprise Services SaaS is a long cycle for the next 10 years."

The epidemic is a test of how "digital" the industry is. While offline dominated industries such as tourism, aviation, and traditional retail have been severely impacted by the epidemic, and industries such as online healthcare, online education, short video and telecommuting have achieved rapid growth with low customer acquisition costs.

The epidemic objectively accelerated the process of digitalization of China's industry. In the face of the epidemic, companies in all segments have embarked on a digital model, and the industry with high-frequency and low-cost is favored by the capital markets.