在刚刚过去的周末，比天气更热的或许是阿里和美团间的"外卖补贴"大战。 新华财经获悉，淘宝闪购7月5日的日订单数超8000万，其中非餐饮订单超1300万，美团则在7月5日深夜宣布其即时零售日订单量突破1.2亿单大关，其中， 餐饮订单超过1亿单。 以外卖为流量入口，美团、阿里系（淘宝闪购和饿了么）、京东三大巨头盯上的是"最后一公里"之争。相比外卖市场的存量竞争，如何重塑即时零售在消费 者心中的认知，成了2025年下半年各大平台竞争的关键。 阿里、美团打响 "史诗级"外卖大战 7月2日，淘宝闪购宣布启动规模高达500亿元的补贴计划，强势加入美团和京东的外卖角逐，形成"三国杀"。次日，阿里巴巴计划发行本金总额约120亿港 元、2032年到期的零票息可交换债券，市场认为阿里此举某种程度也是为了"外卖大战"提供弹药。 7月5日，淘宝、美团两大平台放出了大量且大额的外卖红包券。淘宝闪购放出包括"满25减21""满25减20""满16减16"等多张无门槛的外卖券；美团火速回 敬"0元自取"奶茶券。 多位消费者在社交平台上晒出"零元购"订单，大量用户涌入平台下单，致使美团在5日傍晚一度宕机。"美团崩了"的话题冲上微博热搜榜第一 ...

" 平台祭出外卖0元购、1元购，将补贴大战推向高潮。 " 作者丨应梅 编辑丨董子博 美团和淘宝闪购轮番加码补贴，0元购、1元购外卖，开启了全民薅羊毛囤外卖的周末。 7月5日24点前，美团公布其外卖订单量当天创下1.2亿单的记录，其中餐饮外卖超过1亿单。隔一天后，7 月7日上午，淘宝闪购联合饿了么公布了这次补贴大战的成绩，日订单突破8000万单。 雷峰网独家获悉，淘宝闪购和饿了么方面给内部团队和服务商都设定了订单周环比目标，内部团队周环比 增长目标是15%，服务商方面有的达20%。后续，冲击单量依然是淘宝闪购和饿了么最重要的目标。（了 解更多外卖行业前沿信息，欢迎添加作者微信 zymcfip 交流～） 对于淘宝闪购和饿了么的紧追，美团也在周六作了一次正面回击。 01 美团和淘宝闪购的一次正面较量 周末原本就是淘宝闪购和饿了么冲单量的时间，此前的6000万的峰值订单，也是在周末冲出来的。7月5 日当天，淘宝闪购就有补贴冲单规划，一开始发了一些15减11的券，没有打0元战。 淘宝闪购和饿了随后加码，8点直接祭出16减16、25减21的卷，加入0元购之战。 奶茶商家方吴倩告诉雷峰网，7月5日公司外卖订单量也突破历史峰 ...

以下文章来源于电商在线 ，作者唐果 电商在线 . 见锐度、见洞察，聚焦互联网和新商业的创新媒体 来 源丨电商在线（ dianshangmj ） 作者丨 唐果 编辑丨 王亚琪 图源丨 midjourney "出门五分钟，流汗两小时。" 近日，伴随着高温黄色预警的袭来，全国多地气温直冲40℃。炎炎夏日下，作为消暑利器的冰淇淋， 销量也跟着一路飙升。 当各家冰淇淋品牌"争奇斗艳"的时候，国际冰淇淋巨头"梦龙冰淇淋"也在这个热浪滚滚的七月迎来关 键进展。 7月1日，梦龙冰淇淋公司正式完成了从联合利华集团的剥离。一直以来，联合利华的冰淇淋业务拥有 和路雪、梦龙、可爱多等多个知名品牌，占据全球20%的市场份额，是名副其实的冰淇淋巨头。 若用2024年份额绝对值来计算，联合利华冰淇淋业务的体量约等于2个雀巢、5个通用磨坊（哈根达 斯母公司）、10个伊利。 而此次让冰淇淋业务"独立出道"也并非突如其来。 今年3月，联合利华冰淇淋总裁就宣布新公司"梦龙冰淇淋公司"（The Magnum Ice Cream Company）成立。该公司以梦龙为名，品牌标识则融合了和路雪的经典心形logo。 据公开披露，梦龙冰淇淋正在计划于202 ...

● 2025年以来，消费复苏缓慢，传统食品饮料需求承压，细分板块呈现结构性机会。建议优先关注成长性较强的零食，以及处于 向上修复阶段的啤酒和乳制品。 ● 啤酒：需求边际改善，成本下行释放利润弹性。2024年终端消费较弱，啤酒龙头推进渠道库存去化，库存水平处于历史低位， 板块估值回落至5年低分位。2025年1-5月社零餐饮收入同比有所改善，在旺季低基数和消费政策刺激下，啤酒销售数据修复确 定性较高，有望催化估值抬升。另外成本仍处于下行周期，叠加产品结构持续优化，利润弹性可期。建议关注生鲜高端化优势突 出，盈利改善稳健的青岛啤酒和成长势能强劲的燕京啤酒。 ● 零食：品类与渠道共振，高成长延续。零食板块呈现高景气度和高成长性，强品类与新渠道持续催化。从产品来看，消费者需求 升级趋势明显，健康功能性零食备受关注，以魔芋为代表的产品快速出圈，兼具健康属性和味觉体验，实现高增。从渠道来看， 零食量贩跑马圈地后，两大龙头占据主要市场份额。此外，会员商超渠道崛起，选品引领行业潮流，成为各大零食企业新的发力 点。建议关注盐津铺子、劲仔食品。 ● 乳制品：供需格局逐步改善，静待周期拐点到来。生鲜乳价格持续创年内新低，奶牛养殖亏损 ...

值班编辑 | 江江 本文转载自每日经济新闻 刚刚，过去的周末，平台外卖大战再次拉开帷幕。 7月7日一早，淘宝闪购、饿了么联合宣布，日订单数超过8000万，其中非餐饮订单超过1300万，淘宝闪 购日活跃用户超过2亿。从5月4日的超1000万订单，攀升至现在的日订单超8000万，距离淘宝闪购正式 上线仅有两个月。 淘宝闪购、饿了么称，接下来，将会在12个月直补消费者及商家500亿元，有效带动消费内需，为商家 创造生意增量，并充分做大市场容量，破除"内卷"式竞争。 视觉 | 诺言 "太疯狂了，全国人民都在熬夜点外卖。喝不完，根本喝不完。"不少网友感叹。与之相呼应的是奶茶店 的店员们，直呼订单"做不完、根本做不完！" 平台上演外卖大战 7月5日晚间，阿里、美团上演了外卖大战！ 两大平台放出了大量且大额的外卖红包券，其中包括"满25减24""满15减15""满22减18"等多张无门槛外 卖券。淘宝闪购平台推出了"满18减18"的新人专享红包，美团也联合不同奶茶饮品品牌推出了"0元喝奶 茶"的平台福利活动。 7月5日的淘宝闪购补贴页面 两家开启的平台大战让消费者开启了周末的"饮品狂欢"。随着优惠券发放，单量剧增，大家涌入 ...

Group 1 - The Eurozone retail sales data for May will be released at 17:00 Beijing time [1]

Core Viewpoint - The downfall of Renrenle (002336.SZ), once a leading retail chain in China, culminated in its delisting from the Shenzhen Stock Exchange after failing to meet financial standards and experiencing continuous losses [3][5]. Group 1: Financial Performance and Delisting - Renrenle's stock entered the delisting preparation period on June 13, 2023, and was officially delisted on July 4, 2023, marking the end of its 15-year journey in the A-share market [1]. - The immediate cause of delisting was the company's financial performance, with a reported net asset of -404 million yuan for 2024 and an audit report that expressed "inability to express an opinion" [3]. - From 2021 to 2024, Renrenle recorded negative net profits after excluding non-recurring losses for four consecutive years, leading to multiple delisting indicators being triggered [3][5]. Group 2: Historical Context and Challenges - Renrenle, once celebrated as the "first private supermarket stock," was listed in January 2010 with an initial price of 26.98 yuan, peaking at over 35 yuan on its first trading day, and achieving a market capitalization exceeding 13 billion yuan [4]. - The company faced significant challenges starting in 2012, with performance fluctuations and more years of losses than profits, exacerbated by the rise of e-commerce and increased competition [4]. - Despite attempts to transform its business model through high-end supermarkets and online expansion, these efforts failed to reverse the declining trend [4][6]. Group 3: Industry Implications and Future Outlook - Renrenle's delisting highlights the broader challenges faced by traditional retail, including rising operational costs and the impact of new retail formats [6]. - The traditional supermarket sector, characterized by low profit margins and reliance on supplier fees, is under pressure from emerging competitors like Hema and membership-based models [6][7]. - Industry experts suggest that the future of retail lies in companies that can innovate and adapt, moving away from large-scale operations to more agile and specialized business models [7].

此前7月2日，淘宝闪购宣布将在12个月内直补消费者及商家共500亿元，通过发放大额红包、免单卡、 官方补贴一口价商品等方式给消费者带来优惠、便捷的服务和体验，进一步激发消费活力。同时上线店 铺补贴、商品补贴、配送补贴、免佣减佣等措施，促进商家生意增长。 美团闪购上线于4月15日，品牌定位为"24小时陪伴消费者的新一代购物平台"，联合全国近3000个县市 区旗的零售商、品牌商与本地中小商家，服务消费者的日常购物需求。美团方面表示，7月5日是暑期消 费旺季正式开启后的第一个周末，也是外卖消费的传统促销季。公开报道显示，去年夏天美团的订单峰 值超过了9000万单。 京东方面，在此前6月18日的2025京东618媒体开放日上，京东外卖日订单量已突破2500万单，品质餐饮 门店入驻超过150万家，京东外卖全职骑手规模突破12万人。 开源证券认为，闪购业务得以快速发展的直接原因是即时零售用户心智的逐渐牢固和用户对闪购消费黏 性、依赖度的明显提升。即时零售本质是"本地供给+即时配送"对传统电商的降维打击，未来还将加速 推动零售行业的模式重构。 红星资本局7月7日消息，今日，淘宝闪购和饿了么联合宣布，淘宝闪购日订单数超800 ...

Core Viewpoint - The competition in the fresh food retail market is intensifying as major players like JD and Meituan accelerate their offline store openings, indicating a resurgence of the "new retail" concept that integrates online and offline shopping experiences [3][11][15]. Group 1: Market Dynamics - JD and Meituan are focusing on the fresh food segment as a high-frequency necessity, with JD's 7Fresh and Meituan's Little Elephant Supermarket both expanding their offline presence [4][9]. - The shift towards offline stores is supported by a change in consumer behavior, where online purchasing of fresh food has become more accepted [3][14]. - The success of Hema, which achieved profitability after nine years, has instilled confidence in other players to invest in the fresh food retail space [3][15]. Group 2: JD's Strategy - JD plans to achieve full coverage of the 7Fresh stores in the Beijing-Tianjin-Hebei region by the end of the year, with a focus on core business districts [5][6]. - The "1+N" model is being implemented, where the central store serves as both an experience hub and a supply chain node, while smaller satellite stores enhance delivery efficiency [6][7]. - JD's integration of 7Fresh with its food delivery services aims to create a seamless shopping experience for consumers [7][8]. Group 3: Meituan's Approach - Meituan's Little Elephant Supermarket is also ramping up its offline expansion, targeting all first- and second-tier cities [9][10]. - The recruitment of over 200 positions for Little Elephant Supermarket indicates a significant commitment to expanding its physical presence [10]. - Meituan's strategy includes leveraging its strong delivery capabilities to enhance the efficiency of its new store openings [20]. Group 4: Industry Trends - The shift back to offline retail is part of a broader trend where companies are reassessing the value of physical stores in light of rising online customer acquisition costs [19]. - The role of offline stores is evolving from mere sales points to multifunctional efficiency nodes that support both customer experience and logistics [21][22]. - The integration of online and offline channels is seen as essential for driving growth in the fresh food sector, with companies investing heavily in infrastructure to support this transition [23].

交银国际研究 公司更新 | 互联网 | 收盘价 | | 目标价 | | 潜在涨幅 | 2025 年 7 月 7 日 | | --- | --- | --- | --- | --- | --- | --- | | 港元 | | 120.80 | 港元 | 165.00 | +36.6% | | | 美团 (3690 HK) | | | | | | | 外卖日单峰值突破 1 亿，运营能力仍有优势，维持买入 财务数据一览 | 年结12月31日 | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 收入 (百万人民币) | 276,745 | 337,592 | 386,213 | 437,899 | 474,235 | | 同比增长 (%) | 25.8 | 22.0 | 14.4 | 13.4 | 8.3 | | 净利润 (百万人民币) | 23,253 | 43,772 | 43,485 | 58,982 | 66,969 | | 每股盈利 (人民币) | 3.71 | 7.00 | 7.01 | 9.51 ...