虎嗅APP·2025-07-22 09:50Core Viewpoint - The article discusses the intense competition in the food delivery market in China, particularly focusing on the aggressive subsidy strategies employed by major players like Meituan, Alibaba, and JD.com, and the implications of these strategies on market dynamics and consumer behavior [2][3][6]. Group 1: Market Dynamics - The food delivery market in China is experiencing a significant increase in order volume, with a record of 200 million orders on July 5, driven by substantial subsidies from major companies [2][3]. - Meituan, Alibaba, and JD.com are collectively burning through approximately 20 billion RMB monthly in subsidies, indicating a fierce battle for market share as user growth stagnates [2][3]. - The competition has led to a situation where consumers benefit from heavy discounts, but the long-term sustainability of such a model is questionable [2][3]. Group 2: Company Strategies - Alibaba's delayed entry into the food delivery battle is attributed to internal restructuring and the need to align its resources effectively before launching a competitive response [3][4][5]. - The timeline of Alibaba's strategic moves includes significant organizational changes and the announcement of a 50 billion RMB subsidy plan, indicating a coordinated effort to regain market presence [5][6]. - Meituan's response to the competition has been characterized by a focus on maintaining operational efficiency and leveraging its existing infrastructure to counter the aggressive tactics of its rivals [10][11]. Group 3: Competitive Landscape - The article highlights the differences in strategic approaches between Meituan and its competitors, noting that Meituan is more cautious and strategic in its responses compared to the aggressive tactics of JD.com and Alibaba [10][11]. - The competitive landscape is further complicated by the entry of new players and the potential for existing platforms like Pinduoduo and Douyin to join the fray, indicating a rapidly evolving market [15][16]. - The profitability of the food delivery business remains a concern, as companies struggle to balance subsidies with sustainable business models, leading to volatility in stock prices across the sector [11][12].