中国外卖，全是输家

Core Insights - The article discusses the challenges and dynamics of the food delivery industry across different countries, highlighting the stark contrasts between the operational models and profitability of food delivery services in China compared to other regions like Mexico and Malaysia [1][2][3][4][7][8]. Group 1: Industry Dynamics - In Mexico, local restaurants thrive with a business model that includes high profit margins, with some achieving monthly gross profits exceeding 100,000 RMB [1]. - The food delivery market in China is characterized by intense competition, with platforms like Meituan, Ele.me, and JD.com battling for market share, leading to unsustainable pricing strategies [8][11]. - The average delivery fee in China is the lowest globally, while the delivery speed is the fastest, driven by a high population density and a fast-paced work culture [7][18]. Group 2: Profitability and Business Models - Meituan's food delivery business shows low profitability, with operating profit margins between 6% to 8% and net profit margins as low as 3% to 5% after accounting for marketing and R&D expenses [8]. - In contrast, food delivery services in Malaysia and Mexico report higher profit margins, with local restaurants managing to operate successfully despite higher commission rates [11][20]. - The article notes that many Chinese restaurants are resorting to standardized, semi-finished products to maintain profitability in a highly competitive environment [9]. Group 3: Labor and Compensation - The working conditions for delivery riders in China are described as harsh, with long hours and low pay, leading to a high turnover rate and a competitive environment among riders [16][19]. - In other countries like Malaysia and Singapore, delivery riders earn significantly higher wages, reflecting the local labor market conditions and the value placed on their work [20][21]. - The article emphasizes that the low wages and poor working conditions for riders in China are a result of intense competition and a market that has become accustomed to low prices [18][21]. Group 4: Consumer Behavior - Consumers in China have developed a habit of expecting low prices for food delivery, which has led to a cycle of price wars among platforms and restaurants [21][22]. - The article suggests that the expectation for cheap, fast, and good service is unsustainable, as it leads to compromises in food quality and service [21][24]. - The long-term implications of this pricing strategy could negatively impact the overall value perception of the food delivery industry and the broader economy [22][23].