Core Viewpoint - The Chinese government is conducting an investigation into the competitive landscape of the food delivery service industry, with major platforms like Meituan, Taobao, and JD.com expressing support for this initiative, indicating a shift towards fair competition and orderly growth in the industry [2][3]. Group 1: Market Competition and Regulation - The food delivery market has seen intense competition characterized by significant subsidies, with platforms like JD.com entering the market in February 2025 and driving daily orders to a record 120 million by July [3]. - Regulatory bodies have intervened multiple times to address "involution" in competition, emphasizing the need for a shift towards standardized and healthy market practices [3]. - The latest investigation by the State Council's Anti-Monopoly and Anti-Unfair Competition Committee highlights issues such as excessive subsidies and price wars, which are detrimental to the real economy [3][4]. Group 2: Trends in Instant Retail - The instant retail industry is expected to diversify beyond food delivery, with platforms increasingly focusing on non-food categories and integrating e-commerce [2][4]. - There is a growing trend of traffic decentralization, with businesses encouraged to build private traffic channels and consider third-party delivery options independent of major platforms [2][4]. - The separation of business flow and logistics is becoming more pronounced, allowing third-party delivery services to optimize resource allocation and enhance delivery efficiency [4]. Group 3: Third-Party Delivery Services - Third-party delivery services, such as SF Express, are gaining prominence as they provide flexible logistics solutions and support multiple platforms, enhancing overall operational efficiency for businesses [4][6]. - SF Express reported a significant revenue increase of 48.8% in the first half of 2025, with net profit soaring by 120.4%, indicating strong growth potential in the third-party delivery sector [5][6]. - The company is expanding its logistics infrastructure and investing in smart logistics, including over 800 autonomous vehicles, to strengthen its competitive edge in the instant retail ecosystem [8][9]. Group 4: Future Outlook - The instant retail market in China is projected to exceed 1 trillion yuan by 2026, suggesting substantial growth opportunities for the delivery sector [9]. - SF Express is positioned as a leading independent third-party delivery provider, with its competitive advantages expected to strengthen as the market evolves [9].
“外卖补贴大战”回归理性 第三方即配将迎长线发展机会
Zheng Quan Shi Bao Wang·2026-01-19 07:29