但补贴投入有效带动了用户增长，美团APP日活跃用户数（DAU）同比增长超20%，餐饮外卖月交易用 户数创下历史新高。数据显示，过去12个月交易用户数突破8亿大关。美团即时零售日订单峰值在7月份 超过1.5亿单，平均送达时间34分钟。平台用户结构优势进一步扩大，更多中低频用户向高频跃迁。 北京商报讯（记者 郭缤璐）11月28日，美团正式发布2025年三季度业绩报告。报告显示，本季度，美 团实现营收955亿元（人民币，下同），同比增长2%，经调整净亏损160亿元。 作为公司基本盘，美团核心本地商业板块实现营收674亿元，不过该板块在行业"内卷式"竞争背景下， 核心本地商业经营利润转负。财报显示，为应对外卖行业非理性竞争，核心本地商业持续加大针对餐饮 行业的直接补贴力度。受此影响，美团核心本地商业经营利润亏损141亿元。 美团闪购继续引领即时零售行业发展。本季度，美团闪购新用户增速与核心用户交易频次双双提升。10 月，美团闪购推出"品牌官旗闪电仓"，未来预计将拓展至上万个品牌，覆盖3C、美妆、运动、服饰、 母婴、宠物、百货等各个品类。"双11"首日，数百个"品牌官旗闪电仓"销售额涨幅300%。 本季度，美团到店业务 ...

"这一结构性空白为Qpon提供了差异化切入的契机"。Qpon相关业务负责人向记者表示，Qpon定位不是 单纯的外卖或内容平台，而是将线下店铺线上化经营，移植了国内成熟的"省钱+社交"玩法，并结合本 地用户习惯进行创新。例如，每日早7点准时开启的闪购活动，已成为印尼年轻人的消费习惯；基于邀 请码的社交传播机制，则有效降低了获客成本。在产品层面，Qpon融合了短视频内容、真实用户点评 与即时优惠信息，通过算法为用户智能筛选优质商家与高性价比优惠，有效缩短了从浏览、决策到消费 的路径。当前，Qpon的连锁品牌覆盖率方面达到了80%，以超过5万家有效门店覆盖数位列印尼市场第 一。 不过，Qpon的进一步发展也存在多项挑战。Qpon方面表示，比如，在到店场景，TikTok凭借内容生态 与流量优势强势渗透，外卖领域则有Gojek、Grab 等本土巨头占据主导地位，整体市场竞争日趋激烈。 同时，如何平衡补贴投入与可持续发展，并应对不同地区的消费差异，成为平台必须解决的课题。 外卖、点评、生鲜极速到家……今年以来，本地生活服务赛道竞争激烈，美团、抖音、淘宝、京东等巨 头围绕"到店 - 到家"业务展开的角逐如火如荼。在巨头之外 ...

Core Insights - Dazhong Dianping is expanding its international presence, particularly targeting Chinese tourists and overseas Chinese communities, with ambitions to become a global platform for local lifestyle needs [1][4][9] - The company has established a foreign team and is focusing on building foundational capabilities rather than immediate commercialization [2][3] - Dazhong Dianping has launched operations in over 1,000 cities across more than 200 countries, emphasizing cities with high Chinese tourist traffic [4][6] Group 1: International Expansion Strategy - Dazhong Dianping's international expansion began in Southeast Asia in 2017 and is accelerating in 2025, with a focus on key cities [2][3] - The company aims to create a "global yellow pages" product that meets local lifestyle needs, moving beyond just serving Chinese tourists [9][10] - The establishment of a local team, comprising both Chinese and local personnel, is crucial for penetrating local markets [6][7] Group 2: Market Penetration Challenges - The acceptance of Dazhong Dianping's business model by local restaurant owners in overseas markets is challenging [2][5] - The company is leveraging local agents and teams to build merchant relationships and gather essential local information [6][8] - High-end restaurants in markets like Singapore show reluctance to adopt new promotional tools, preferring traditional advertising methods [7][8] Group 3: Competitive Landscape - Dazhong Dianping faces competition from platforms like Xiaohongshu, which are also trying to integrate the entire customer journey from discovery to booking [9][10] - Google Maps remains a significant competitor in providing location-based services and user reviews, posing a challenge for Dazhong Dianping to attract non-Chinese users [10] - The success of Dazhong Dianping's international strategy will depend on its ability to localize effectively and potentially develop a new app tailored for foreign markets [10]

Core Viewpoint - JD.com has announced a series of significant initiatives in the local lifestyle sector, which has led to a pre-market stock increase of over 1% to $29.19 [1] Group 1: New Initiatives - JD.com has launched an independent app for its food delivery service, JD Takeout, positioning it as a comprehensive service platform that integrates food delivery, instant retail, reviews, travel, and shopping [1] - The company has introduced JD Review and "JD True Ranking" as part of its new offerings [1] - A new ready-to-drink beverage brand named "Seven Fresh Coffee" has been launched [1] - The second phase of JD Travel's "Treasure Cities" initiative has been rolled out in Sanya [1] Group 2: Integration and Functionality - The JD Takeout app now fully integrates JD Review features and is connected to the main JD.com system, enhancing user experience and service offerings [1]

Group 1 - JD Group has made significant moves in the local lifestyle sector, launching JD Takeout App to provide a comprehensive platform for local services, including takeout, instant retail, reviews, travel, and shopping [1] - The JD Review feature integrates content with the transaction system, allowing users to seamlessly transition from browsing reviews to making purchases, thus breaking down barriers between review and e-commerce platforms [2] - The introduction of the self-operated brand "Seven Fresh Coffee" aims to enhance user experience and drive coffee consumption, with plans to open 3 to 5 new stores weekly in Beijing [4] Group 2 - The takeout business has shown positive effects, with a high repurchase rate and increased user activity, leading to a nearly 50% conversion rate of new takeout users to other services [5] - The integration of AI in JD Review allows for the analysis of vast amounts of data to generate reviews, enhancing the credibility of the platform while maintaining a non-commercialized approach [2] - Experts suggest that JD's strategy in the local lifestyle sector involves supply chain integration and the development of self-operated formats to strengthen competitive advantage [4]

Core Insights - JD Group's founder Liu Qiangdong announced the launch of "JD Review" and "JD True List," along with an independent app for "JD Takeout," marking a strategic shift in the local services sector aimed at addressing growth bottlenecks and industry pain points [2][3] Group 1: Independent App Launch - The decision to launch an independent JD Takeout app is intended to resolve the issue of hidden entry points that led to significant traffic loss in the past [3] - The new app will provide core users and frequent users with greater convenience, allowing direct access to services and integrating multiple functions such as "instant retail + reviews + travel + shopping" [3][4] Group 2: Trust and Review System - JD Review and JD True List aim to reshape the consumer trust system, with Liu emphasizing that these services will "never be commercialized" to avoid conflicts of interest [3][4] - The innovative "AI All-Net Review" model will analyze millions of reviews from various platforms to present a comprehensive view of merchants or products [4] Group 3: Ecosystem Integration - The launch of the review function is seen as a way to complete the ecosystem for local life and instant retail, integrating content with the transaction system for efficient conversion [5][6] - JD's third-quarter report showed a 213.7% year-on-year increase in new business revenue, indicating significant investment and growth potential in instant retail and high-frequency services [5] Group 4: User Experience and Engagement - JD Review's interface is designed similarly to content communities like Xiaohongshu, allowing users to share experiences and directly link to JD Takeout for orders [6] - The integration of real consumption scenarios in content generation enhances credibility and matches user needs, potentially increasing order conversion rates [6]

Core Insights - JD Group has made significant moves in the local lifestyle sector by launching its own food delivery app and expanding into travel services, aiming to create a comprehensive local lifestyle platform [1][2] - The new JD Delivery app integrates various services such as food delivery, instant retail, reviews, travel, and shopping, enhancing user accessibility and engagement [1] - JD Review and JD True Ranking have been introduced to improve content ecology, with JD Review offering five sub-channels for local lifestyle evaluations and JD True Ranking utilizing AI for user-generated content analysis [1][2] Summary by Sections Local Lifestyle Expansion - JD has launched the JD Delivery app to provide a one-stop local lifestyle service, addressing previous user engagement issues by separating food delivery from the "Instant Delivery" brand [1] - The app aims to facilitate user access and reduce traffic loss by being an independent platform [1] Integration of Content and Commerce - JD Review integrates content with the transaction system, allowing users to seamlessly transition from browsing reviews to making purchases, thus breaking down barriers between review and e-commerce platforms [2] - The use of AI to analyze vast amounts of data for generating reviews enhances the credibility of the platform while maintaining a non-commercialized approach [2] Challenges and User Engagement - Challenges include established user habits, high conversion costs, and the need for a balance between app functionality and user-friendliness to prevent user attrition [3] - JD's entry into the food delivery market has already shown positive effects, with high repurchase rates and increased user activity across other services [5] New Product Launch - JD introduced its self-operated coffee brand "Seven Fresh Coffee," aiming to provide fresh and healthy coffee experiences, with plans for rapid expansion in Beijing [4] - The coffee brand serves as a strategic tool for driving offline traffic and enhancing JD's local service network [4] Market Dynamics - The integration of high-frequency services like food delivery is seen as a key strategy for boosting user engagement and supporting lower-frequency retail transactions [6] - JD's ongoing investments in local lifestyle services are driven by the need to leverage traffic and enhance user experience in a competitive market [6]

Core Insights - JD Group launched an independent JD Takeout App to enhance user convenience and experience in food delivery services [2] - The JD Takeout App integrates various local life services, including food delivery, instant retail, reviews, travel, and shopping [2] - The launch of the app is part of JD's strategy to meet the growing demand for deep user engagement in the takeout business [2] Group 1 - JD Takeout App was introduced to address user feedback regarding the accessibility of the takeout service [2] - The app aims to provide a comprehensive local life service experience, combining multiple functionalities for users [2] - The app is fully integrated with JD Reviews, offering users reliable consumption references for dining and leisure activities [2] Group 2 - The event also saw the launch of additional products such as JD Reviews, JD True List, and Seven Fresh Coffee, enhancing local life services [4] - The introduction of these new products is expected to strengthen the synergy effects within JD's service offerings [4] - JD is leveraging its "super supply chain" capabilities to meet diverse user needs across various scenarios [4]

Core Insights - JD.com has launched an independent app for its food delivery service, JD Takeout, which integrates various local lifestyle services including food delivery, instant retail, reviews, travel, and shopping [1] - The new app aims to enhance user convenience for frequent food delivery customers and is fully integrated with JD's review platform to provide consumption references for users [1] - JD.com also introduced a new beverage brand, Seven Fresh Coffee, which focuses on fresh milk to offer a healthier coffee experience and is expanding rapidly in Beijing [1] Group 1 - JD Takeout app provides a comprehensive platform for local lifestyle services, enhancing user experience [1] - The app is connected with JD's main site to meet diverse consumer needs in local living and daily shopping [1] - The AI-powered review model, "AI All-Net Review," analyzes millions of reviews daily to generate objective content [1] Group 2 - Seven Fresh Coffee aims to promote coffee consumption and is actively recruiting partners for nationwide expansion [1] - The brand has already launched in Beijing, with plans to open 3 to 5 new stores weekly, targeting major urban areas by the end of the year [1]

11月17日，智通财经记者获悉，在京东品酒会现场，京东创始人刘强东宣布，京东外卖将推出独立 App，并推出京东点评，承诺"永不商业化"。刘强东还介绍，京东将推出"京东真榜"，对餐饮、酒店、 航司、景点进行排序。 据了解，京东点评由京东在近期上线，主要负责本地生活服务，目前处于测试阶段，针对部分城市用户 开放。 智通财经记者 范佳来 外卖大战"三国杀"即将进入进一步厮杀。 刘强东表示，"刚推出外卖的时候很多用户反馈找不到我们的外卖入口，今天京东外卖独立的APP终于 上线了，对于经常点外卖的用户来说可能更加方便、容易。"他介绍，京东外卖APP不仅提供外卖服 务，计划将集中"外卖+即时零售+点评+酒旅+购物"等一体，提供更全面的本地生活服务。 刘强东说，"我们的点评也好、真榜也好，我们宣布，永远不做商业化。作为一个商业企业，大家都会 追求商业利益，但是我坚定认为，作为商业企业不应该什么事都以赚钱为目的。该去赚的钱可以赚，但 是如果给用户提供排名和点评服务，还要再赚钱，那就一定不可能真实。点评和排行榜一旦商业化，绝 对不可能公平，一定导致劣币驱逐良币。" ...