Sou Hu Cai Jing·2025-08-02 04:21Core Viewpoint - The takeaway from the articles is that the food delivery industry in China has transitioned from a "price war" to a "value war," with major platforms like Meituan, Ele.me, Taobao Shanguo, and JD.com collectively announcing a commitment to resist unhealthy competition and focus on service and quality instead [1][4]. Group 1: Industry Transition - The prolonged subsidy war has led to significant negative impacts on merchants, riders, and consumers, with extreme promotional activities like "0 yuan purchase" and "1 cent purchase" severely squeezing profit margins [2][4]. - Regulatory intervention played a crucial role in this transition, as the State Administration for Market Regulation held discussions with major platforms to enforce compliance with antitrust laws and fair competition practices [1][2]. Group 2: New Strategies and Initiatives - The platforms have outlined specific measures to shift towards a "value war," including commitments to not sell below cost, ensuring merchants' pricing autonomy, and focusing on service and quality rather than just price [4][6]. - Adjustments in subsidy models have been made, with some cities moving from extreme discounts to more sustainable offers, enhancing merchants' revenue share to over 60% [4][6]. Group 3: Positive Market Response - Following the announcement of the new strategies, stock prices for Meituan, Alibaba, and JD.com saw significant increases, indicating positive market sentiment towards the industry's transformation [1]. - The second quarter of 2025 showed an increase in user repurchase rates, further validating the effectiveness of the industry's shift towards sustainable practices [9]. Group 4: Future Outlook - Platforms are implementing long-term plans to foster high-quality development, such as Taobao Shanguo's goal to cultivate 100,000 digital demonstration merchants within three years and Ele.me's green packaging subsidy fund [9]. - The focus on improving delivery efficiency and service quality is becoming a new competitive edge, with various platforms investing in technology and rider rights protection [9].