19元的奶茶商家到手仅1.69元！外卖大战的补贴成本谁在买单

Core Viewpoint - The ongoing subsidy war among food delivery platforms has led to increased order volumes but has also resulted in reduced profit margins for merchants, raising concerns about reliance on low prices after subsidies are withdrawn [2][10]. Group 1: Impact on Merchants - Merchants are experiencing a mixed bag of outcomes from the subsidy war, with some reporting significant increases in order volume but lower overall revenue due to high subsidy costs [5][10]. - Specific examples show that merchants are often left with minimal profit after accounting for subsidies, delivery fees, and platform commissions, leading to situations where they may even incur losses on certain orders [5][8]. - The subsidy structure is typically negotiated between brand headquarters and platforms, leaving individual stores with little control over pricing and promotional strategies [6][10]. Group 2: Consumer Behavior - Consumers are benefiting from substantial discounts, with some promotions offering zero-cost options for self-pickup, which has led to increased order volumes [2][10]. - The price-driven nature of consumer behavior raises concerns for brands about sustaining sales once subsidies are removed, as customers may become accustomed to lower prices [10][11]. Group 3: Industry Dynamics - The subsidy war is intensifying the competitive landscape, favoring larger brands with better negotiation power while potentially overwhelming smaller or newer brands [11]. - Analysts suggest that the long-term reliance on subsidies is unsustainable and that brands should focus on building membership systems and digital supply chains to reduce dependency on price cuts [11][12]. - A recent call from a local restaurant association highlighted the negative impact of extreme subsidy practices on market order and the operational viability of many businesses [12].