Bei Ke Cai Jing·2025-07-24 12:39Core Viewpoint - The regulatory authorities are taking measures to curb "involution" competition among food delivery platforms, promoting a healthier and more orderly industry development [2][35]. Group 1: Regulatory Actions - On July 22, the Zhengzhou Market Supervision Administration held administrative talks with Ele.me, Meituan, and JD.com, prohibiting "involution" competition and encouraging rational participation in competition [2]. - The State Administration for Market Regulation (SAMR) previously held talks with the same three platforms, requiring them to further standardize promotional behaviors [2][4]. - SAMR has exposed typical cases of "involution" competition in the quality sector and will continue to innovate regulatory methods and strengthen the publicity of results [2][35]. Group 2: Market Competition Dynamics - The food delivery market has seen a resurgence of competition, with JD.com launching a "quality delivery" initiative, breaking the long-standing duopoly of Meituan and Ele.me [3][4]. - From May to July, the number of instant retail orders surged from 100 million to 250 million, primarily driven by non-food categories and lower-tier markets [4][16]. - The competition has intensified with Meituan and Alibaba launching aggressive promotional campaigns, including "0 yuan purchase" and "25 yuan off 11 yuan" offers [3][4]. Group 3: Impact on Businesses - Many merchants are experiencing a significant increase in order volume, with some stores reporting daily orders exceeding 600 [8][24]. - However, the increase in orders has led to a decline in in-store purchases, with merchants expressing concerns about the sustainability of this business model [22][24]. - Merchants are now utilizing multiple platforms to maximize order volume, as the competition has made it less about choosing between Meituan and Ele.me [25][39]. Group 4: Future Market Trends - The competition is evolving into a "three-way battle" among Meituan, Alibaba, and JD.com, with potential entrants like Douyin and Pinduoduo eyeing the market [39]. - The subsidy strategies are shifting from "burning money for users" to "subsidies to leverage ecosystems," indicating a more strategic approach to competition [39]. - The market share dynamics are changing, with Meituan's share decreasing from 80% to 60%, while Alibaba and JD.com are increasing their shares to 30% and 10%, respectively [40].