MEITUAN(HK:03690) Di Yi Cai Jing·2025-08-18 16:30Core Insights - The delivery speed issues in the food delivery industry have become a significant concern for consumers, especially after the decline of subsidy wars, leading to increased sensitivity towards service capabilities [2][3] - The competition among food delivery platforms is shifting from price wars to service quality, with a focus on improving delivery efficiency and customer satisfaction [2][5] Delivery Performance - The number of delivery riders has significantly increased this summer, with Ele.me reporting a 181% growth in active riders and a 236% increase in crowd-sourced riders by the end of July [3] - Despite the increase in rider numbers, challenges remain in maintaining delivery efficiency, particularly during peak hours, due to varying rider density and system coordination issues [4] Service Quality Challenges - The decline in subsidies may exacerbate delivery speed issues, as platforms may struggle to maintain resource allocation and delivery efficiency without financial incentives [3] - Systemic issues, such as discrepancies in estimated delivery times between merchants and riders, as well as inefficient navigation routes, contribute to delays and require optimization [4] Competitive Landscape - The competition is evolving towards a "15-minute delivery" model, with platforms like Meituan attempting to attract users with rapid delivery promises, although actual performance may not always meet expectations [5] - The focus of competition is now on three main areas: user engagement, merchant partnerships, and rider resources, with an emphasis on maximizing existing user value and enhancing service offerings [6]