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Grocery App Dingdong Maicai: Sky-high GMV, High Costs amid Increasing Industry Competition

  • Dingdong Maicai has maintained a high growth over recent years, achieving the largest GMV and user base in the sector.
  • High fulfillment and marketing costs, increasing competition between top players and a somewhat fragile business model are the main challenges facing the company.
  • Impacted perhaps by Missfresh 's bad performance on the IPO day, Dingdong reduced its ADS offering amount, with some investors turning bearish on the newly listed shares.
  • deem the stock undervalued.
  • https://equalocean.com/analysis/2021072516481

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