Deliveroo Exits Hong Kong Under Pressure From Meituan’s App
Deliveroo Plc will close its Hong Kong business after weak sales and mounting competition from rival food delivery app KeeTa, which was launched by Chinese giant Meituan in 2023. The company's international division has been weighed down by intense competition, with Deliveroo struggling to compete on pricing and promotions. Deliveroo's exit marks a significant shift for the London-based delivery company.
- The exit of Deliveroo from Hong Kong highlights the challenges faced by Western delivery companies trying to navigate highly competitive and price-sensitive local markets, where Meituan’s KeeTa has already gained significant traction.
- How will this move impact Meituan's expansion strategy in Asia, given its existing market presence and growing operations across the region?