Jing Ji Guan Cha Wang·2025-08-01 09:27Core Viewpoint - The recent subsidy wars in the food delivery industry have raised widespread social concern, prompting industry associations and businesses to call for an end to irrational promotional practices like "0 yuan purchase" to foster a healthy industry ecosystem and achieve mutual benefits [1][2]. Group 1: Industry Response - On August 1, major players including Meituan, Taobao Flash Sale, Ele.me, and JD collectively issued a statement advocating for industry regulation of promotions and the elimination of unfair competition [1]. - Meituan committed to adhering to relevant laws and regulations during subsidy activities, ensuring that prices do not significantly undercut costs and that subsidy information is transparently communicated to merchants and consumers [1]. - Taobao Flash Sale and Ele.me pledged to plan subsidies rationally based on consumer and merchant needs, actively avoiding irrational promotional activities and enhancing service experiences [1]. - JD emphasized its stance against irrational competition and committed to resisting "0 yuan purchase" practices, focusing on quality and differentiation through service improvements and supply chain innovation [1]. Group 2: Market Dynamics - The latest round of competition in the food delivery sector began in February when JD entered the market with a "0 commission + 10 billion subsidy" strategy, disrupting the long-standing dominance of Meituan and Ele.me [2]. - Following JD's entry, Ele.me and Taobao Flash Sale launched a counter-offensive with a 500 billion yuan subsidy, leading to a "historic subsidy war" characterized by extremely low prices for consumers [2]. - The surge in orders reached unprecedented levels, with Meituan surpassing 150 million daily orders and Taobao Flash Sale achieving 80 million [2]. - However, the burden of these subsidies primarily fell on merchants, with over 70% of the subsidy costs being absorbed by them, leading to significant financial strain [2]. Group 3: Regulatory Environment - On July 18, the State Administration for Market Regulation held talks with Ele.me, Meituan, and JD, urging them to comply with the E-commerce Law and to engage in rational competition to foster a healthy ecosystem [3]. - This regulatory intervention follows earlier discussions in May, indicating a strong commitment to governance during the peak of the subsidy war [3]. - A report from Goldman Sachs predicts a deep restructuring of the food delivery industry, with extreme discounts likely to diminish and a shift towards efficiency-driven competition focusing on service quality and food safety [3]. - Long-term market share projections suggest that by the end of 2025, Meituan could hold 50%-55% of the market, Ele.me 15%-18%, and JD 12%-15%, while smaller regional players may face consolidation or exit [3].