外卖狂欢背后：羊毛出在谁身上？

Core Viewpoint - The recent subsidy war among food delivery platforms like Meituan, Taobao Flash Sale, and JD has led to significant discounts for consumers, but it has created challenges for restaurant operators who feel increasingly dependent on these platforms [1][2][3]. Group 1: Industry Dynamics - The subsidy war has resulted in a dramatic increase in order volumes, with Meituan reporting 1.5 billion orders and Taobao Flash Sale exceeding 800 million orders [3]. - Platforms are heavily subsidizing orders, with reports indicating that Taobao Flash Sale's daily subsidy reached over 1.2 billion yuan, while Meituan's ranged from 300 million to 400 million yuan [3]. - Restaurant operators are facing a shift in subsidy burden, with merchants now covering over 60% of the total subsidies, leading to a decrease in average order value from 20 yuan to 15 yuan [3][6]. Group 2: Regulatory Response - The State Administration for Market Regulation has called for stricter compliance with e-commerce laws and fair competition practices among major platforms [2]. - Industry associations have issued statements urging platforms to cease "involution-style" subsidies and unfair competition practices [1][2]. Group 3: Impact on Restaurant Operators - Many small and medium-sized restaurant operators are struggling with profitability, with some reporting a net profit decline of over 60% [6][9]. - The subsidy war has led to a polarization in the industry, where some businesses benefit from increased order volumes while others face significant losses [6][9]. - Operators are advised to adapt their business strategies, such as optimizing menu structures and exploring offline channels to balance revenue [9].