And now let's proceed to scenario analysis. Good evening everyone and welcome to Global Pals where we explore how culture shapes business success.

I'm Luna, nice to meet you. And tonight we're bringing up a story that's been simmering for over a decade. The intensive competition in China, even the global delivery market, the giant brand Meituan. Once a yellow kangaroo, which is very cute, delivered your takeaways to your home around our city. Now a more comprehensive company contributing to every aspect of life.

What is the secret behind their success To unpack this journey we joined by two of my friends and Susan and please let me break it down into two parts Part one is about the analysis of the reasons and part two is what can we learn from this case. So let's move into part one. Susan, what do you think is the secret to their domestic success? Well, to me, it is a really successful business case.

And before my analysis, you can see how Meituan has reached 500 million active users. And Meituan is like a kingdom or like a blueprint for China. And rewriting the root of global market competition. So I'm going to break it down in two parts, at home and abroad. So the very first one, at home. We can see a strong analysis or strategy thinking pattern behind the domestic market.

It's like long-term orientation. It did not just land with the splashes. It didn't aim an easy path. So it started from smaller cities because there are less competitions. And dozens of competitive counterparts to avoid the dozen of competitive counterparts. And only when the business model know what they want can they seek a longer path. So whether a short-term heat or a long-term perseverance and reputation.

And how a business like Meituan rose from bustle and hostile runners and finally gained the golden medal, not only because of the long-term orientation and also the hardcore technology algorithm. First one, they have a good system, included but not limited to the best focus on the customers, offering large discounts ranging from 50% to 70%. And this is really a bargain and bonus for the customers.

And this also involved the psychological effects of catching the hearts of the customers. And after they have the price battle, they started to switch to another patterns to cut the cost and gain profits. Not only because of the group buying. And that's after this, it started to gain the Chinese mainland dominance. So I can learn something. Number one is about long-term orientation. And number two is about some mental factors.

and number three is huge AI and some very great technologies. And as we can see from the video, the founder of Meituan once said, in business, you must always expect strong competitions. If you pay or plan for an easy pass, you will definitely fail when hard time comes. So they decided to expand the market. And what made their success in the global market? Well, you could see that after the initial part of the dominance in Chinese mainland marketing, it started to expand the market in the sequence of Hong Kong, Saudi Arabia, and Brazil.

And you can see the inspiration behind this, and that's globalization. You can even tell this from the name switchment. It's like from Meituan to Kedai and Croatia. So the first one, for business model, it is really hard to expand the market because everyone is wading through the water with the feelings for the stones. In Chinese, we call this Mo Zhe Shi Tou Ge He. So Hong Kong was the very first small trial testing the service and to seek how to build a better team and whether it is feasible to launch in other markets.

And that was the first window to the world. Second one, Saudi Arabia. It was the first step out of China. It didn't just narrow down. It started to gain a new perspective, expanding the service, including but not limited to multiple service like hotel orders and purchasing medicine and so on. So we can tell the strong specialties and advantages. And the last one, Brazil started to use some like AI assistance to better perform and adapt to different cultures.

Thank you. So they started from scratch and expanded their market one by one, step by step, wisely. And I can see some word that is GCCS. Maybe the keyword global consumer culture sensitivity also can explain what you've said just now. And after that, we are going to the part two of our program. that is what can we learn as a college student, as a Chinese people heading to the diverse world. So, Helios, please.

What can we learn from your success for intercultural acculturation And I think there are three key points that could be learned Firstly intercultural communication is about a process and not a competition that you could gain success at once. Instead, it is a process that you need to keep updated. And made one also from the food delivery services to grocery stores and to online shop, these steps make it special, lies in not only one field, but has a more complicated market change in China mainland, also in international communities.

And they also, the second factor is that they keep open-minded, the combination of AI assistant could analyze what is the local preferences and to make more like marketing strategies to learn and also to customize to the cities. For example, the social medias and the spokesman could also make an involvement with the customers. To let them be involved in this marketing strategy, then can they understand what their services are and what could be the future.

And the third one is the future-oriented, mentioned by Susan. You should always stay ready. You need to be planning first. A clear blueprint should be put forward once you have a very giant ambition to expand your market globally, and it needs to be a step-by-step process to understand Hong Kong is a bridge for international expansion because it also incorporates the features of China, mainland, also the international features.

And therefore, we could expand the market and to understand differences and growing through the intercultural differences. Well, thank you, Helios. So from all of their analysis, we can learn that there are three points. Number one is cultural understanding is never about understanding some differences and diversities. It's more like growing with the market and also get ourselves improved. And number two is globalization. Just like David Brower once said, think globally, but act locally.

So, and number three is about future-oriented. So, during this process, we need to arm ourselves with technology, with diversity, with openness, with tolerance. and thus can we pave the way towards a diverse world? Can we use our wisdom to solve the world problem and also Chinese problem? Remember, diversity or some conflicts, no matter in the business success or in some other areas of life, is never a challenge, but an opportunity for us to get self-improvement.

Thank you.