《小小的优惠券，大大的经济账？》

Core Viewpoint - Since 2025, platforms like Meituan, Taobao Flash Sale, and JD have initiated a "subsidy war," leveraging a 1 yuan coupon to stimulate nearly 7 yuan in consumption, showcasing a significant market impact [4] Group 1: Subsidy Impact - Research indicates that every 1 yuan flash sale coupon can drive 1.65 yuan in takeaway consumption and generate an additional 6.76 yuan in cross-scenario spending, significantly outperforming international coupon experiences [4] - This "small subsidy" effect has not only avoided cannibalizing offline dining but has also led to increased revenue for small and medium-sized merchants, with the smallest businesses benefiting the most [4] Group 2: Market Dynamics - The takeaway flash sale has even inspired innovative consumption scenarios such as "ordering air conditioners and buying furniture," further integrating online and offline experiences, contributing to a mainstream digital consumption ecosystem [4] - Despite intense competition among platforms and regulatory interventions emphasizing rational competition, the overall trend remains positive [4] Group 3: Economic Contribution - In the digital economy era, small discount coupons are stimulating significant market vitality, injecting strong momentum into China's consumption recovery [4]