外卖大战叫停背后：越来越便宜的外卖，靠补贴赢不了未来

Core Viewpoint - The recent regulatory discussions with major platforms like JD.com, Meituan, and Ele.me highlight the need for fair competition and the unsustainability of excessive subsidies in the food delivery industry [1][4][19] Group 1: Regulatory Actions - The National Regulatory Administration and multiple departments have urged platforms to comply with laws and regulations to ensure fair competition and protect the rights of consumers, merchants, and delivery riders [1][4] - The discussions signal a significant shift in the regulatory landscape, aiming to promote a healthy and orderly development of the platform economy [1][4] Group 2: Competition Dynamics - The food delivery sector has seen intense competition, primarily driven by subsidies, which has become unsustainable in the current macroeconomic environment [4][7] - Platforms like Meituan and Ele.me have historically relied on subsidies to attract users, but this approach is increasingly viewed as detrimental to long-term industry health [7][19] Group 3: Impact on Stakeholders - The subsidy wars not only affect platform competition but also have broader implications for millions of merchants and delivery riders, leading to potential declines in profits and income [5][13] - The reliance on subsidies creates a vicious cycle where merchants are pressured to lower prices, ultimately harming their profitability and the overall market [13][14] Group 4: Market Size and Consumer Behavior - The high-frequency food delivery market is limited to approximately 75 million individuals in China, primarily those with monthly incomes above 5,000 yuan [8][11] - Once subsidies are removed, consumer demand for food delivery is expected to decline, raising concerns about the sustainability of the current business model [8][11] Group 5: Long-term Viability - The article emphasizes that relying solely on subsidies is not a viable long-term strategy for platforms, as it undermines the profitability of merchants and the overall market [16][17] - The need for rational competition and a return to common sense in business practices is highlighted as essential for the future of the food delivery industry [18][19]