“外卖大战”，谁是赢家？

Core Viewpoint - The recent resurgence of the food delivery price war is reshaping the underlying logic of China's consumer market, transitioning from planned consumption to instant consumption, creating a trillion-level blue ocean market [2][4]. Group 1: Industry Dynamics - Multiple food delivery platforms are offering large, no-threshold red envelopes or coupons, with some products even available for "0 yuan purchase," intensifying the competition [2]. - The food delivery industry, previously thought to be stagnant, is experiencing a dramatic shift from "unable to compete" to "fighting fiercely," leading to system crashes and overwhelming order volumes for merchants [2][3]. - The competitive strategies seen in the food delivery sector echo those from the shared economy era, where price wars led to market consolidation among a few major players [3]. Group 2: Economic Implications - The current price war raises questions about the sustainability of profits, as the apparent benefits for merchants, delivery riders, and consumers may not be long-lasting [4]. - The influx of "0 yuan free orders" has caused operational challenges for small businesses, leading to increased order volumes but reduced profit margins, forcing some to temporarily close [4][5]. - The shift from "price wars" to "value wars" is seen as essential for the industry's transformation, emphasizing the need for a more sustainable and equitable business model [6][7]. Group 3: Future Outlook - The outcome of the ongoing competition among internet giants in the food delivery space remains uncertain, with potential for either market monopolization or significant exits from the industry [7]. - A successful transition to a more balanced ecosystem requires recognizing the value of all stakeholders, including delivery riders and merchants, rather than relying solely on aggressive subsidies [6][7].