美团来了，贝壳压力大了_老虎社区_美港股上老虎

美团来了，贝壳压力大了

起点财经2025-12-25

作者：地产高富帅来源：地产一品塘文章已获授权大家好，我是地产高富帅。中介巨头之一的贝壳，一直都是行业这两年被持续关注的热点，一边是传统业务的利润滑坡，一边是新业务的高成本扩张，作为曾经中国互联网圈的明星企业，贝壳又将何去何从？左晖时代的贝壳，把“真房源”作为顶级IP持续经营多年，几十万经纪人的超强战队，在地产行业最好的年代持续带给行业不小的惊喜。随着贝壳核心关键人物的缺席，这家互联网企业基因似乎...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225160002a476a4a2&s=b><strong>起点财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者：地产高富帅来源：地产一品塘文章已获授权大家好，我是地产高富帅。中介巨头之一的贝壳，一直都是行业这两年被持续关注的热点，一边是传统业务的利润滑坡，一边是新业务的高成本扩张，作为曾经中国互联网圈的明星企业，贝壳又将何去何从？左晖时代的贝壳，把“真房源”作为顶级IP持续经营多年，几十万经纪人的超强战队，在地产行业最好的年代持续带给行业不小的惊喜。随着贝壳核心关键人物的缺席，这家互联网企业基因似乎...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225160002a476a4a2&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2125910500.SGD","symbol_name":"Natixis WCM Global Emerging Markets Equity H-R/A 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pressure","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"METmain":0.6,"HMTD.SI":0.6,"MPNGY":1.95,"03690":1.95,"BEKE":1.93,"02423":1.93},"content_text":"作者：地产高富帅来源：地产一品塘文章已获授权大家好，我是地产高富帅。中介巨头之一的贝壳，一直都是行业这两年被持续关注的热点，一边是传统业务的利润滑坡，一边是新业务的高成本扩张，作为曾经中国互联网圈的明星企业，贝壳又将何去何从？左晖时代的贝壳，把“真房源”作为顶级IP持续经营多年，几十万经纪人的超强战队，在地产行业最好的年代持续带给行业不小的惊喜。随着贝壳核心关键人物的缺席，这家互联网企业基因似乎有点变化，资本为先的企业驱动力，似乎早已经没有了当时创业时期的灵魂。最新的财报更扎眼，2025年二季度营收260亿，同比增长11%，但净利润只有13亿，同比大跌31%。更糟的是，股价已经从巅峰的52美元，掉到如今的18美元，跌去六成。如今的贝壳业绩看似相对比开发商还算合格，但是其疲态已经渐显。就在贝壳还在尝试多元化业务关键时刻，另外一家互联网巨头开启搅局模式，美团在近期已经上线租房与卖房业务，看似有点默默无声，实则要硬刚贝壳了。大众点评和美团App被曝上线美团找房，筹备两年，核心业务租房与二手房交易两大板块，不过目前还没全国铺开，小编打开深圳页面，目前只有租房的信息。很显然，美团是绝对不可能轻易放弃房产租售这块肉，虽然规模不可能与早期对比，但是有美团可持续的超高流量入口加持，这笔生意绝对是可行的。现在美团手里握着近8亿的年交易用户，大家每天打开它点外卖、骑单车、订酒店。这些流量，全是“自产”的，低成本的。另一边，贝壳、安居客为了拉一个买房的用户，投广告，在应用商店买排名，获客成本相当高，有时候几百块钱，都换不来一个有效电话。美团的流量相对比贝壳，安居客这种单一房产应用，是一个绝对的可持续回报流量池，本身具备可穿越性，不会受到行情影响。美团是中国领先的生活服务电子商务平台，完全覆盖了一个普通人所有的消费场景，吃喝住行对于国人来说本身就是消费常态，住的需求是长期存在的。美团上线房产端口，目前从内部了解到还是属于类似卖端口逻辑，与安居乐等类似，均为通过端口方式切入房产服务，即经纪人通过购买流量端口，实现在界面展示并获得客户。有需求的客户就是点击相关的租售信息与经纪人沟通，带来整体成交的基本闭环，美团本身并没有与贝壳一样运营端口的打算。另外早期高德地图、闲鱼早期的房产端口均由合作商代理，其实还是一个流量变现逻辑，美团这种大平台其实早就嗅到商机。试水上线美团找房，其实还是在考量如今房地产行业的整体市场导向，典型的“高频打低频”，拿外卖，酒旅，本地生活的流量，去撬动几百万的房产交易，哪怕只有一丁点转化，都是纯赚。在反观抖音、小红书等新型平台都在争食房产交易服务的蛋糕，这意味着无论是房产端口服务，还是以房产成交为核心的cps交易服务，竞争都在加剧。对比小红书的流量池，用户较为年轻化，租房业务还是具备很大潜力，加上很多开发商已经同步官方进驻小红书，新房销售投放渠道，小红书房产业务也有了一定起色。更有意思的是，美团的大数据真的现在已经到了癫狂的地步，比如你搜搬家，很有可能下次页面就开始显示租房了，整个流量包围战略，直接被APP绑架。如今美团已经想好了如何出发，不直接对抗贝壳等传统房产中介，这种费力并且投入产出没办法衡量的生意，王老板肯定不会干。美团这次出手其实就是走了一条捷径，干起了纯流量生意，就跟早期外卖大战一样，租车服务一样，干平台大数据服务才是美团的核心。美团每天处理的订单量早已突破6000万单大关。这个数字不仅意味着日均服务超2亿人次，更折射出中国消费市场的蓬勃活力。另外，大数据还会分析每个人的日常消费周期与习惯，包括金额与类别，这又与租房买房价值息息相关，这背后的数据价值本身就强到可怕。贝壳这些年引以为傲的客户数据，如今都已经运用到了开发商客研产研整个链条，个人觉得美团的客户画像价值更有其参考意义。客户每天点的外卖金额，消费的日常地图等都能侧面反映出此人的消费习惯，这是与现今开发商做产品研发也有不小的关联，毕竟如今房子的消费与社交场景已经完全开启。一个长期吃人均50+外卖的人，是绝对不可能去租低于5000的房子的，也绝对可以看成一个高净值客户。美团像一把“钝刀”，凭借流量与数据缓慢切入房产领域，虽不尖锐，但后劲绵长，可能逐步侵蚀垂直平台的流量基础。贝壳则身穿“重甲”，具备深厚的行业积累，但转身缓慢，需在资本压力下平衡战略投入与短期盈利。美团能顺利杀入房产交易环节，那真就可以说强到可怕了，衣食住行，吃喝玩乐，直接包圆，王兴算是又押对宝了。今天就聊到这里，对于今美团有想分享的朋友，也可以留言讨论。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}