Zhi Tong Cai Jing·2025-08-07 07:33Group 1 - The core viewpoint of the report emphasizes that the outcome of competition in the instant retail sector is influenced by infrastructure in the short term, technological advantages in the medium term, and ecosystem integration in the long term [1] - Instant retail is characterized by an efficient delivery network, with online orders delivered within approximately 30 minutes, primarily covering a radius of 3 kilometers [1] - The business model of instant retail includes self-operated and platform models, and it is more aligned with the online transformation of offline businesses rather than replacing the e-commerce sector [1] Group 2 - Major companies are intensifying their competition in the instant retail space, with Meituan planning to establish a standalone instant retail brand by 2025, leveraging its high-frequency delivery business [2] - Alibaba is upgrading its "hourly delivery" service to Taobao Flash Purchase, indicating a deep activation of existing ecosystem resources and innovative restructuring of its model [2] - JD.com is privatizing Dada and integrating it into its operations, launching JD Seconds to capitalize on its impact on the core e-commerce business [2]