MissFresh Triples its Stock and Accelerates the Delivery Efforts to Meet Increasing Consumer Demand

Rhea-AI Summary

Missfresh Limited (NASDAQ: MF) has significantly increased its stock volume by three times to accommodate rising consumer demand amid COVID-19 spikes in Beijing. The company has stocked over 200 tons of essential commodities such as meat, eggs, and vegetables. Daily order volume surged sixfold compared to the previous week, reaching over 1.2 million deliveries per day. To ensure timely service, delivery hours have been extended to 1:00 a.m., and safety protocols have been enforced for all delivery staff, including mandatory vaccinations and regular disinfection of processing areas.

Positive

• Stock volume tripled to meet rising consumer demand.
• Daily order volume increased sixfold compared to the previous week.
• Delivery capacity expanded with average daily volume exceeding 1.2 million pieces.

Negative

• Potential delays in order deliveries due to high demand.

BEIJING, April 26, 2022 /PRNewswire/ -- After some of COVID cases in Beijing and mass COVID-19 testing in most of the city, residents snapped up food and other suppliers with the fear of rising number of cases. Missfresh Limited ("Missfresh" or the "Company") (NASDAQ: MF), a pioneer in China's neighborhood retail industry, has tripled its stock volume to meet consumer demand during this challenging time.  with more than 200 tons of "essential for livelihood" commodities such as meat, eggs, vegetables, and fruits, the Missfresh customers are able to access to fresh goods. In addition, the supplies of other non-perishable foods including oil, frozen foods and meats have also been expanded and stocked. For more than 20 stores in key areas, Missfresh is carrying out a second round of replenishment in the afternoon and will continue to increase shipment according to the consumer demand. The daily order volume on April 24^th and April 25^th increased 6 times compared with the same period in the last week.

On the delivery side, the average daily volume reached more than 1.2 million pieces per day. The surge in orders, especially during the morning peak hours, has created challenges that could cause potential delays. To ensure timely delivery, all delivery employees are on duty and the order delivery time is extended to 1:00 a.m. in the morning, and social transportation capacity are also allocated immediately.

In addition, to ensure the safety of personnel and goods during the delivery process, all delivery staffs have completed COVID vaccinations and have proof of 24-hour negative COVID results. Furthermore, the processing areas for packaging, warehousing, sorting and distribution of commodities are regularly disinfected and "contactless distribution" is strictly implemented.

About Missfresh Limited

Missfresh Limited is an innovator and leader in China's neighborhood retail industry. The Company invented the Distributed Mini Warehouse (DMW) model to operate an integrated online-and-offline on-demand retail business focusing on offering fresh produce and fast-moving consumer goods (FMCGs). Through the "Missfresh" mobile application and Mini Program embedded in third-party social platforms, consumers can easily purchase quality groceries at their fingertips and have the finest products delivered to their doorstep in 36 minutes, on average.

Leveraging its core capabilities, Missfresh launched an intelligent fresh market business in the second half of 2020. This innovative business model is dedicated to standardizing and transforming fresh markets into smart fresh malls. Missfresh has also built up a full stack of proprietary technologies that empower a wide range of participants in the neighborhood retail business, such as supermarkets, fresh markets and local retailers, to jumpstart and efficiently operate their businesses digitally.

For more information, please visit: http://ir.Missfresh.cn.

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SOURCE MissFresh

FAQ

What recent measures has Missfresh (MF) taken to handle COVID-19 demand surges?

Missfresh has tripled its stock volume and increased delivery capacity to meet sixfold demand spikes.

How has Missfresh (MF) ensured safety during delivery?

All delivery staff have completed COVID vaccinations and provide proof of negative results, and areas are regularly disinfected.

When did Missfresh (MF) see a significant increase in orders?

The daily order volume surged six times on April 24th and 25th compared to the previous week.

What types of products are being stocked by Missfresh (MF)?

Missfresh is stocking essential commodities including meat, eggs, vegetables, and non-perishable foods.

What is the extended delivery time for Missfresh (MF) orders?

Delivery hours have been extended to 1:00 a.m. to ensure timely service during high demand.