JD(US:JD) Qi Lu Wan Bao Wang·2025-05-01 11:10Core Viewpoint - The competition among major food delivery platforms, including Meituan, JD.com, and Ele.me, has intensified, with significant subsidies and incentives being offered to attract users, merchants, and delivery personnel. This "food delivery war" is expected to reshape market dynamics in the near future [1][16]. Merchant Insights - Merchants have reported a surge in orders due to platform subsidies, with one chain restaurant experiencing a daily sales increase to nearly 500 orders, driven by JD.com's promotional activities [2][4]. - The revenue distribution for merchants shows that they receive different amounts from each platform, with Meituan at 15.98 yuan, JD.com at 17.98 yuan, and Ele.me at 14.78 yuan for a 20 yuan order [4]. - Merchants express concerns about customer retention post-subsidy and the need for improved platform functionalities, particularly with JD.com [8]. Rider Perspectives - Delivery riders are experiencing increased earnings due to higher order volumes and platform incentives, with some reporting daily incomes exceeding 400 yuan [9][11]. - Riders are considering transitioning to full-time positions due to better pay and job stability, especially on JD.com, which offers higher per-order payments compared to competitors [13]. - Challenges remain for riders, including tighter delivery timeframes and less efficient order management on JD.com compared to Meituan and Ele.me [13]. Consumer Behavior - Consumers are benefiting from the competitive pricing and substantial discounts offered by all three platforms, leading to a preference for the lowest-priced options [14][16]. - A price comparison revealed that after discounts, JD.com, Meituan, and Ele.me offered prices of 8.9 yuan, 10.09 yuan, and 13.59 yuan, respectively [16]. - Consumer loyalty is influenced by established habits, with many unwilling to switch platforms despite ongoing promotions [14]. Market Dynamics - The competitive landscape is shifting, with projections indicating that Meituan's market share could reach 65% and Ele.me's 33% by 2024, while JD.com is rapidly increasing its order volume [16]. - Experts suggest that the current subsidy-driven competition may lead to significant user attrition once promotions cease, similar to trends observed in the ride-hailing industry [18]. - The future of the food delivery market is expected to focus on quality service and operational efficiency rather than just order volume, emphasizing the need for sustainable business practices [18].