Key facts
- Half of China's convenience chains reported sales declines in the first half of 2026.
- Instant retail platforms deliver goods within 30 to 60 minutes.
- China's instant retail market reached 89 billion yuan ($89 billion) in 2023.
- The instant retail market is projected to surpass $274 billion by 2030.
- Meituan's instant retail service fulfills consumer expectations for delivery within 30 minutes.
Chinese convenience stores are facing declining sales as instant retail platforms redefine consumer convenience with rapid, low-cost delivery. Half of convenience chains reported sales decreases in the first half of the year, according to industry data.
Instant retail, an evolution of food delivery, integrates online ordering with local fulfillment, connecting digital platforms with brick-and-mortar stores. These services aim to deliver goods within 30 to 60 minutes, and in some cases, as quickly as 10 minutes for less than a dollar. This model is rapidly becoming a feature of urban life in China.
The market for instant retail in China is substantial and growing. It reached 650 billion yuan ($89 billion) in 2023, a 28.89% increase year-on-year, far outpacing the 11% growth of overall online retail sales. Projections suggest the market will surpass 2 trillion yuan ($274 billion) by 2030.
Meituan has officially launched its instant retail brand, Meituan Shangou, or Meituan Flash Buy, aiming to fulfill consumer expectations for delivery within 30 minutes. The company's Vice President, Xiao Kun, stated that non-food orders on the service now exceed 18 million per day, with increasing consumer loyalty across various categories. Meituan's network of flash warehouses, small distribution centers located close to consumers, has already reached 30,000 locations and is expected to grow significantly.