Is fresh food market a key to profit in China?
The answer seems to be yes according to the ongoing trend in the food e-commerce industry. The Chinese B2B platform Meicai, which focuses on catering to small and medium-sized restaurants with produce directly from local farmers, is fueling its business expansion into the costly fresh-foods market by raising at least $500 million in new funding. The move follows a series of new launches by e-commerce giants namely Alibaba and JD.com with groceries sectors added to their main sites. Tencent backed food delivery service provider Meituan has offered a similar service started earlier this year in Beijing and Shanghai.