Core Insights - Alibaba and JD are intensifying their investments in the food delivery and instant retail sectors, aiming to strengthen the "speed" perception among users and create a one-stop consumption platform [1] - Since Q2 2025, total platform investments have been consistently increasing, with expectations for Q3 2025 to reach nearly 70 billion yuan [1] - The competitive focus is shifting from food delivery to instant retail, although high subsidies are distorting user behavior, indicating unsustainable competition strategies [1] - Key systemic variables such as delivery efficiency, merchant supply, user repurchase, and frequency are becoming more critical [1] - The industry scale is projected to reach 2.4 trillion yuan in the long term, but the direct profitability returns are relatively limited, suggesting that platforms may prioritize ecological value over pure financial returns [1]