虎嗅APP·2025-07-29 09:23Core Viewpoint - The article discusses the intense competition between Meituan and Alibaba's Taobao Flash Purchase, highlighting the strategic maneuvers and market dynamics at play in the food delivery and instant retail sectors [3][58]. Group 1: Market Dynamics - The fierce competition in the food delivery market has led to significant financial investments, with Meituan's core business operator Wang Puzhong calling for a "ceasefire" after a 25 billion yuan battle [3][5]. - Despite the cessation of reckless subsidies, promotional activities continue, with users still able to access substantial discounts on delivery apps [5][23]. - Instant retail is projected to exceed 1 trillion yuan in scale this year, with a forecast of surpassing 2 trillion yuan in the next five years, driven by major players like Meituan, JD.com, and Douyin [14][15]. Group 2: Strategic Moves - Alibaba's strategy appears to focus on defensive maneuvers rather than directly surpassing Meituan, aiming to protect its e-commerce base from encroachment [8][9]. - The launch of Taobao Flash Purchase is seen as a way to preemptively counter Meituan's expansion into e-commerce, with Alibaba emphasizing a unique branding strategy to capture user attention [18][19]. - Meituan's response to Alibaba's aggressive moves includes a "bloodletting plan," utilizing high-value coupons and promotions to maintain its market position [45][49]. Group 3: User Engagement and Experience - User engagement metrics have surged across platforms, with JD.com reporting an increase of 20.73 million daily active users, and Taobao surpassing 200 million daily active users [23]. - The article notes that while Taobao Flash Purchase has seen rapid order growth, it struggles with user experience issues, such as limited merchant recommendations and a less flexible interface compared to Meituan [28][32]. - The sustainability of high order volumes driven by subsidies is questioned, as the influx of "bargain hunters" may not translate into long-term customer loyalty [37][56]. Group 4: Financial Implications - The financial implications of the subsidy wars are significant, with Alibaba reportedly spending 231.8 billion yuan on subsidies in a short period [49][50]. - The article suggests that while high order volumes can be achieved through aggressive marketing, the long-term profitability of such strategies remains uncertain, especially as operational costs rise [36][56]. - Meituan's ability to maintain a competitive edge may hinge on its operational efficiency and technological infrastructure, which are currently under strain from the high volume of orders [53][54].