3 6 Ke·2026-01-21 09:01Core Insights - Alibaba has set a clear goal to achieve "absolute first" in the instant retail sector by 2026, transitioning from a competitive stance to a decisive declaration of intent [1][2] - The company aims to leverage its financial strength and ecosystem advantages to dominate the market, with a focus on efficiency optimization and high-margin product categories [5][7] Market Overview - The instant retail market in China is projected to reach 971.4 billion RMB in 2025 and exceed 1 trillion RMB in 2026, with an annual growth rate of 12.6% [3] - Instant retail has become a critical battleground for major retail players due to its high-frequency consumer engagement potential [2][3] Performance Metrics - Instant retail revenue reached 14.784 billion RMB in Q2 2025, marking a 12% year-on-year growth, contributing significantly to Alibaba's overall performance [2] - As of August 2025, Taobao Flash Purchase reported 300 million monthly active buyers and a peak daily order volume of 120 million [4] Competitive Landscape - Alibaba faces intense competition from established players like Meituan, JD.com, and Douyin, each leveraging unique strengths in logistics, product offerings, and consumer engagement strategies [15][16][17] - Meituan has built a robust delivery network, while JD.com focuses on high-value categories with a self-operated model, and Douyin utilizes content-driven strategies to stimulate impulse buying [16][17] Strategic Initiatives - Alibaba's strategy includes the introduction of "flash warehouses" and partnerships with offline brands, aiming to onboard one million brand stores over the next three years, potentially generating an additional 1 trillion RMB in transactions [9][18] - The company is transitioning from a focus on scale to enhancing operational efficiency, with a significant emphasis on AI technology to improve merchant and service provider operations [7][10] Financial Considerations - As of Q3 2025, Alibaba held 573.89 billion RMB in cash and liquid investments, providing a substantial financial cushion compared to competitors [5] - The company's adjusted EBITA fell by 78% year-on-year to 9.073 billion RMB in Q3 2025, primarily due to investments in instant retail and user experience [8] Challenges and Opportunities - Despite improvements in unit economics, challenges remain in balancing service quality and profitability, particularly in high-value order segments [12][14] - The company must address supply chain complexities and enhance delivery capabilities in lower-tier markets to maintain competitive advantages [13]