（图片来源：摄图网） 5月13日晚间，京东集团发布了2025年一季度业绩报告。从整体业绩来看，京东集团一季度交出了一份亮眼 的成绩单。收入达到3011亿元人民币，同比增长15.8%，上年同期营收2600亿元，远超市场预期的2894.4亿 元，还创下近三年来的最高同比增速。归属于公司普通股股东的净利润109亿元，同比增加52.7%;非美国通 用会计准则下归属于公司普通股股东的净利润128亿元，同比增加43.4%。 在这份财报中，第一季度，包括外卖业务在内的新业务收入达到57.53亿元人民币，同比大幅增长18.1%。 京东CEO许冉对外卖业务的现有成绩给予了肯定，她表示在商家侧，外卖商家的供给在很短时间内实现了从 无到有，到现在入驻门店数超过百万，商家开店需求非常旺盛，很多门店正在系统的对接过程中。她还透露 团队一直在关注数据，京东外卖业务日均订单将很快超过2000万单，这无疑是一个重要的里程碑。 京东外卖于2025年2月正式入局外卖行业，只招募品质堂食餐厅商家。刘强东更是放出豪言：京东外卖永远 赚的净利润不允许超过5%，不要让餐饮人和外卖小哥卷太厉害。 目前美团、饿了么长期占据市场超90%份额，形成双寡头格局。 ...

根据第 54 次《中国互联网络发展状况统计报告》，截至 2024年6月，在网上购买过外卖的用户高达约 5.52亿人。巨大的市场，催生了规模庞大的外卖骑手群体。有数据显示，目前全国骑手已经超过1000万 人。然而，由于就业市场供需关系等因素，骑手在与平台的议价中处于弱势地位。尽管偶尔可见外卖骑 手月入过万的案例，但实际上，获得这样的收入往往需要付出超长的工作时间。平台以"多劳多得"为导 向，将工作时长模糊为"在线时长"，再配合"全勤奖"、订单量等阶梯奖励机制，虽然并非强制要求，但 在实际运营中，却导致一些骑手长时间工作。 来源：环球时报 针对当前外卖行业竞争中存在的突出问题，市场监管总局等五部门近日约谈了京东、美团、饿了么等平 台企业。其中明确要求相关平台企业严格落实主体责任，合法规范经营，切实维护消费者、平台内经营 者和外卖骑手的合法权益。显然，消费者的利益需要得到切实维护，商户面临的经营压力需要有效纾 解，而骑手权益的保障，也需要得到应有的重视，以更好地推动行业健康发展。 国内机动车数量爆发式增长之后，"电子警察"被大量使用，有效控制了交通违法违规带来的混乱和风 险。就此而言，对于从业人数如此庞大的骑手队伍 ...

Core Insights - JD.com reported a strong Q1 2025 performance with revenue of 301.1 billion RMB, a year-on-year increase of 15.8%, marking the highest growth rate in nearly three years, significantly exceeding market expectations [1] - The company's net profit attributable to shareholders reached 10.89 billion RMB, up 52.73% from the previous year, with a gross margin of 15.89% [1] - Following the earnings report, JD.com's stock price rose over 3%, closing at 141.6 HKD per share, with a market capitalization of 451.4 billion HKD [1] Business Segment Performance - JD Retail generated revenue of 263.845 billion RMB, a 16.3% increase year-on-year, with the electronics category achieving 144.295 billion RMB in revenue, up 17.1%, and daily necessities revenue reaching 98.014 billion RMB, up 14.9% [1] - JD Logistics reported revenue of 46.967 billion RMB, a year-on-year growth of 11.5%, with integrated supply chain revenue increasing by 13.2% and the number of external integrated supply chain clients growing by 13.1% [1] New Business Developments - The new business segment, which includes the food delivery service, achieved revenue of 5.753 billion RMB, a year-on-year increase of 18.1%, making it the fastest-growing segment for JD.com [2] - JD.com launched its food delivery service in February, implementing initiatives such as "zero commission recruitment for quality merchants" and providing full-time delivery riders with social insurance benefits [2] - Daily order volume for JD's food delivery service surged from 1 million in late March to over 10 million by mid-April, with expectations to exceed 20 million soon [2] - Despite the rapid growth, the new business segment incurred an increase in operating costs by 555 million RMB, totaling 4.586 billion RMB, and operating expenses rose by 985 million RMB to 2.494 billion RMB [2] - The company views the food delivery sector as a sustainable long-term business opportunity that will create significant synergies with existing operations as it scales [2]

Core Viewpoint - The ongoing competition among food delivery platforms like JD, Meituan, and Ele.me has significantly benefited consumers, leading to lower prices and more options in the market [1][2][8]. Group 1: Market Dynamics - The "拼好饭" section on Meituan has become increasingly popular due to its remarkably low prices, attracting a growing number of users [2][10]. - For example, the "华莱士双主食套餐" is priced at 17.2 yuan on Meituan's 拼好饭, compared to 24.9 yuan on Ele.me, representing a savings of 7.7 yuan [2][4]. - The competitive pricing strategy of 拼好饭 is attributed to its bulk ordering model, which allows restaurants to focus on fewer menu items, thus reducing costs [9][11]. Group 2: Consumer Behavior - Many consumers are now opting for 拼好饭 due to its affordability, leading to an increase in meal quality and a decrease in their Engel coefficient [8][10]. - Users have expressed satisfaction with the value offered by 拼好饭, with some commenting on the generous portion sizes at low prices [8][23]. Group 3: Quality Assurance - Despite concerns about the low prices, the quality of food on 拼好饭 is maintained through strict food safety measures and regular inspections by the platform [15][17]. - The platform has implemented a "爆品一口价" feature, allowing consumers to access popular brands at competitive prices, further enhancing consumer trust [18][23]. Group 4: Brand Participation - Over 5000 restaurant brands have joined Meituan's 拼好饭, providing a diverse range of options for consumers [23][24]. - Brands like 齐品达 have reported increased sales and profitability after joining 拼好饭, indicating that the platform can enhance brand visibility and sales volume [23][24].

Core Viewpoint - The Chinese government is taking regulatory action against major food delivery platforms like JD, Meituan, and Ele.me due to intensified competition and concerns over unfair practices in the industry [1][3]. Regulatory Actions - The State Administration for Market Regulation, along with other government departments, has urged platforms to comply with laws such as the E-commerce Law and the Anti-Unfair Competition Law, emphasizing the need for fair competition and consumer protection [1][3]. - The recent discussions were prompted by JD's entry into the food delivery market and aggressive subsidy strategies from various platforms, leading to a competitive environment that raises concerns about market order [1][2]. Market Competition - The food delivery market is experiencing a "subsidy war," with platforms offering significant discounts to attract consumers, resulting in a surge in order volumes for certain food categories, particularly during holidays [2][3]. - Some restaurant owners report that while order volumes have increased, the profitability from these subsidized orders is low, leading to operational challenges [2]. Impact on Delivery Riders - The increase in order volumes has put pressure on delivery riders, leading to longer working hours and safety concerns, with reports of accidents and emotional distress among riders due to the high demand [3]. - Some riders are taking on multiple platform jobs to manage the workload, indicating a shift in the labor dynamics within the industry [2][3]. Future Outlook - Analysts predict that the regulatory discussions may lead to a reduction in the intensity of competition among food delivery platforms, potentially resulting in adjustments to subsidy strategies [4][5]. - There is a belief that while competition should be encouraged to stimulate consumption, it must be balanced with regulatory oversight to prevent market chaos and protect consumer rights [5].

" 行业共识是，巴西比沙特市场更大，订单量可观。 " 作者丨应梅 编辑丨代聪飞 入局巴西市场，美团打算先砸10亿美金。 此前美团已经为巴西市场做了不少准备。雷峰网了解到，4月初部分沙特Keeta员工就接到调往巴西的通 知，并快速办理签证和接受培训等相关工作事宜。近期，雷峰网独家获悉，美团Keeta总负责人仇广宇也 从沙特转到巴西办公。美团正在加紧开拓巴西市场。了解更多信息欢迎添加微信zymcfip~ 5月12日，美团Keeta与巴西政府签署投资协议，美团计划未来五年内在巴西投资10亿美元，推进其国际 外卖业务Keeta。美团创始人兼CEO王兴和巴西总统卢拉均出席该签约现场。 美团计划在未来几个月内，正式将其旗下外卖服务Keeta引入巴西。 根据巴西媒体报道，美团副总裁徐思嘉公布，未来将在巴西东北部设立一个客服中心，预估招聘过千人， 其中以巴西本地人为主。 美团为何选择巴西市场？多位业内人士均向雷峰网表示，主要原因是巴西市场大，规模比沙特大，订单量 可观。目前，巴西外卖日单量近500万单，第一大外卖平台iFood日单量约360万单。 根据第三方机构Euromonitor（欧睿咨询）数据，2023年全球外卖市场上 ...

Core Insights - Meituan's CEO Wang Xing made a rare public appearance to promote the entry of its food delivery service Keeta into Brazil, signing an investment agreement to invest $1 billion over the next five years [2][3] - The Brazilian food delivery market is competitive, with Meituan's old rival Didi also planning to re-enter the market with its "99 Food" brand [6][7] Group 1: Meituan's International Expansion - Keeta, launched in Hong Kong in May 2023, has quickly become the leading food delivery platform there, utilizing promotional strategies like "half-price first order" and "free delivery" [2] - Meituan's international strategy involves a gradual expansion from Hong Kong to Saudi Arabia and now Brazil, validating and replicating its business model [4] - The investment in Brazil aims to build a nationwide instant delivery network, enhancing local consumer experience and supporting restaurant partners with various digital tools [3][5] Group 2: Market Dynamics and Competition - The Brazilian food delivery market is dominated by iFood, which holds an 80% market share, presenting a significant challenge for new entrants like Meituan and Didi [5][6] - Meituan's planned $1 billion investment represents 20% of its projected net profit for 2024, indicating a strong commitment to the Brazilian market [5] - Didi's re-entry into Brazil with its existing resources, including 70,000 active riders, positions it to compete effectively against Meituan, focusing on user subsidies and operational efficiency [7]

文 | 即时刘说 即时零售从"两虎相争"到"三国杀"的进化论 大家好，我是专注即时零售领域研究的刘老实。 2025年的中国即时零售市场，正经历一场前所未有的结构性震荡。美团、京东、阿里（淘宝闪购+饿了 么）三方的混战，本质上是高频流量入口争夺、供应链效率革命与用户心智重构的复合战役。这场战役 的底层逻辑早已超越传统外卖的"送餐"功能，而是向"万物到家"的全品类即时零售跃迁，其市场规模预 计2030年将突破2万亿元。 美团作为即时零售领域的"守擂者"，凭借700万骑手、日均千万订单的配送网络，以及闪电仓模式构建 的3万前置仓网络，形成了"高频外卖+低频闪购"的流量闭环。其核心优势在于即时履约能力的稳定性 ——30分钟送达率高达98%，并通过5.82亿年交易用户的超高频打开率（年均132次）实现用户习惯的 强锁定。 然而，美团面临双重隐忧：一是骑手社保成本上升对盈利能力的挤压（2025Q2起全面缴纳）；二是闪 电仓的多平台经营特性导致独家供给壁垒不足，难以抵御京东供应链与阿里品牌资源的夹击。 京东的入局堪称"精准爆破"，其以"零佣金+全社保+品质外卖"的组合拳突袭美团腹地，外卖日订单量半 年内从100万飙升至10 ...

Core Insights - The restaurant industry is rapidly transitioning towards online and offline integration, with home delivery services becoming a new growth engine [1][2] - Fantas, a leader in the steak buffet sector, has launched a takeout service to capitalize on this trend, expanding consumer reach through innovative services and a robust franchise system [1][2] Company Overview - Fantas has a mature franchise system supported by a strong operational framework, professional training teams, and significant brand influence, making it a preferred choice for many entrepreneurs [1][2] - The management team consists of experienced professionals from Fortune 500 restaurant companies, establishing a standardized management system across operations, branding, and research and development [1] Supply Chain and Cost Efficiency - Fantas has developed a comprehensive supply chain system that ensures unified procurement and distribution of ingredients, significantly lowering operational costs and enhancing profit margins for franchisees [1] - The company operates self-owned factories equipped with high-standard purification workshops and automated packaging equipment to guarantee food quality and supply stability [1] Marketing and Customer Engagement - In 2019, Fantas established a new media matrix, currently boasting over 1.3 million followers online and over 4 million search traffic on Douyin, effectively driving traffic to franchise stores through a combination of public and private membership operations [1][2] Franchise Support and Operations - The company offers a one-stop support and operation model for franchisees, covering everything from site selection and decoration to marketing strategy, with real-time adjustments based on market dynamics [2] - Fantas provides 12 comprehensive support policies, including personnel training, supply chain support, and digital tool empowerment, ensuring rapid establishment of franchise stores based on a proven model from 48 direct-operated stores [2] Product Quality and Delivery Efficiency - Fantas adheres to high standards for ingredients and cooking requirements, utilizing specialized packaging to maintain food temperature and flavor, ensuring that the quality of takeout matches that of in-restaurant dining [2] - The company collaborates with major delivery platforms like JD, Ele.me, and Meituan to enhance delivery efficiency and stability, employing an intelligent scheduling system to ensure timely delivery even during peak hours [2] Future Outlook - Fantas aims to build a bridge to success for entrepreneurs through its strong brand, mature franchise system, and high-quality home delivery services, while also enhancing the dining experience for consumers [3]

常言道：人是铁，饭是钢，一顿不吃饿得慌。这句话千真万确。可是，怎么解决吃饭问题呢？不同的时 代，不同的地区，不同的人群，有着不同的解决方案。 现代城市生活的基本特征之一是职住分离。上班的地方和居住的地方离得很远，早出晚归，人们很难在 家里自我服务式地解决每一顿的吃饭问题，只能依靠市场来解决。这就催生了一个巨大的、充分竞争的 日常必需品市场——外卖市场。 本来由职住分离催生的外卖市场，如同一块石头投入湖面，产生了巨大的涟漪效应。外卖极其方便，实 现了消费者和食物之间的快速相遇。人们突然发现，外卖省去了买菜做饭、刷锅洗碗的心理负效用过 程，简直是太好了。于是，有些人在家里甚至连方便面都不愿意煮了。这样，城市里的许多人，尤其是 时间极其宝贵的年轻人，就习惯了外卖，一日三餐甚至全天候地随饿随点外卖。这造就了吃饭问题彻底 的、几乎接近于100%的市场化。这更产生了一个自强化的后果：不会做饭的人越来越多，他们越来越 依赖外卖市场解决吃饭问题，食物的生产流程彻底变成了家庭外循环。 吃饭问题的充分市场化，是一个巨大的生意场。比如，在一座1000万人口的城市中，假设有1/4的人每 天至少吃一顿外卖，就有250万人要吃外卖。如果 ...