Core Insights - Instant retail in China has seen a significant surge, with Meituan reporting over 120 million orders on July 5, surpassing last year's peak of 90 million orders, indicating a highly competitive landscape among major platforms [1] - The competition among JD, Alibaba, and Meituan has intensified, with each platform implementing aggressive strategies to capture market share [2] Group 1: Market Dynamics - Instant retail is defined as the ability for consumers to receive goods or services shortly after placing an order online, with food delivery being a major component [1] - The market is expanding into various categories such as fresh produce, pharmaceuticals, and groceries, making instant retail a critical strategic area for e-commerce giants [1] - The competition is characterized by high intensity, as evidenced by JD's entry into the food delivery market and the subsequent strategic adjustments made by Alibaba and Meituan [2] Group 2: Short-term Strategies - Platforms are leveraging substantial subsidies to attract users, with JD offering high-quality restaurant options and significant incentives for full-time delivery personnel [2] - Alibaba has launched a substantial subsidy program totaling 50 billion yuan to enhance user engagement on its platforms [2] - Meituan's recent promotional activities have resulted in record order volumes, showcasing the market's potential [2] Group 3: Sustainability Concerns - The current state of high subsidies is not sustainable, as profitability is essential for long-term operations [3] - The surge in orders has led to resource wastage and operational strain on businesses, highlighting the challenges of maintaining service quality under high demand [3] - Historical patterns indicate that subsidy wars typically do not result in lasting competitive advantages, often leading to market consolidation [3] Group 4: Long-term Outlook - Instant retail is viewed as a long-term endeavor, with the impact of subsidy wars on market structure being limited [4] - A significant portion of recent orders remains concentrated in the food sector, suggesting that the effectiveness of subsidies may be restricted to existing market segments rather than expanding into new ones [4] - Moving forward, platforms need to focus on building a sustainable ecosystem that empowers merchants and delivery personnel to ensure a consistent supply of quality services [4]
即时零售是长期事业 平台冲流量也要护“生态”
Mei Ri Jing Ji Xin Wen·2025-07-07 13:00