内卷式竞争：怎么看，怎么办？

Core Viewpoint - Major platforms such as Meituan, Ele.me, and JD.com have jointly committed to resisting vicious competition and regulating promotional behaviors, marking a significant response to regulatory signals and a potential shift towards sustainable development in the industry [1] Group 1: Concept and Classification of "Involutionary Competition" - "Involution" refers to a complex internal development process that leads to increased complexity without qualitative change, often resulting in resource wastage and industry deterioration [2][3] - "Involutionary competition" is defined as excessive competition for limited market share that fails to enhance efficiency or create new value, leading to a waste of resources and a vicious cycle within the industry [2][3] Group 2: Types of "Involutionary Competition" - Horizontal involutionary competition manifests as price wars among peer companies, significantly compressing profit margins and damaging industry health [3][4] - Vertical involutionary competition occurs when dominant firms exert pressure on upstream and downstream partners, transferring costs and risks, which can lead to a low-quality, low-price, and low-efficiency cycle [4][5] Group 3: Causes of "Involutionary Competition" - Shrinking internal and external demand due to factors like trade tensions and demographic changes has led to increased price competition among firms [6][7] - Local government policies that prioritize short-term growth metrics over sustainable practices have exacerbated the issue, encouraging firms to engage in irrational competition [8][9] - The lure of China's vast market encourages aggressive strategies that prioritize market share over profitability, leading to a "winner-takes-all" mentality [10] - Scale economies and network effects drive firms to engage in price wars to achieve cost advantages, often at the expense of long-term stability [11] - Distorted financial valuation logic prioritizes growth over profitability, pushing firms to adopt aggressive pricing strategies to attract investment [12] - Cultural factors, such as the belief in "thin profit and high sales," contribute to a competitive environment that favors price cuts over value enhancement [13][14] Group 4: Strategies to Address "Involutionary Competition" - Expanding internal and external demand through policy reforms and enhancing consumer confidence is crucial to alleviating price competition [16][17] - Restructuring industrial policies and local incentives to focus on high-quality growth rather than short-term metrics can mitigate involutionary pressures [18][19] - Redefining competition boundaries and incentive structures in the unified market to prioritize value over price is essential [20][21] - Regulating platform governance and ensuring fair competition can prevent monopolistic behaviors that lead to systemic inefficiencies [21] - Reforming financial valuation logic to emphasize long-term value creation over short-term growth can help curb involutionary practices [22] - Promoting cultural change within organizations to prioritize sustainable growth and value creation over mere sales volume is necessary [23][24]