Core Viewpoint - The competition among major food delivery platforms, including Meituan, JD.com, and Taobao, has intensified with significant subsidy initiatives, leading to a "crazy Saturday" promotion that has raised concerns among restaurant operators about sustainability and profitability [1][7]. Group 1: Subsidy Wars and Market Reactions - Taobao Flash Sale launched a subsidy plan of 500 billion yuan, prompting Meituan to issue large delivery red envelopes and JD.com to introduce discounted products [1]. - The intense competition has led to a surge in orders, causing operational challenges for delivery platforms, including system outages due to high demand [1]. - Restaurant operators have expressed fatigue from the ongoing subsidy wars, indicating that the profits do not significantly increase despite higher order volumes [8][10]. Group 2: Strategic Shifts to Self-Operated Kitchens - JD.com has opened its self-operated kitchen "Qixian Xiaochu," utilizing a machine cooking model and plans to establish over 10,000 locations nationwide within three years [2][6]. - Meituan has introduced the "Raccoon Canteen" shared kitchen model, with plans to open 1,200 locations across the country in three years, focusing on providing a comprehensive service for restaurant partners [4][6]. - Both companies aim to enhance operational efficiency and food quality, moving beyond mere order volume competition to a more sustainable business model [6][15]. Group 3: Industry Challenges and Future Outlook - The shift towards centralized kitchens raises questions about the sustainability of such business models, as previous attempts in the industry have failed [14][15]. - The competition for market share between platforms and traditional restaurants may lead to significant operational challenges, including balancing supply chain management and maintaining quality [14][15]. - The long-term viability of these new models remains uncertain, as they require substantial investment and may face resistance from existing restaurant operators [15].
刘强东王兴，再次狭路相逢