Core Insights - The restaurant industry is facing significant challenges due to the aggressive subsidy wars among delivery platforms, leading to substantial losses for many businesses [1][2] - Despite initial boosts in order volume from low-price promotions, the long-term sustainability of restaurant brands is at risk as they struggle with high operational costs and reduced profit margins [1][2][8] Group 1: Impact of Subsidies - Many restaurants report monthly losses of up to 45% in their delivery business, with some tea shops earning less than 0.2 yuan per order while still participating in the competition [1][2] - For example, a 46.9 yuan order results in only 27.83 yuan for the merchant after accounting for subsidies and fees, highlighting the pressure on average order values [2] - The forced participation in subsidies and rising delivery costs are squeezing profit margins, pushing many businesses to the brink of loss [2][6] Group 2: Platform Dependency Risks - The reliance on delivery platforms mirrors past retail industry failures, such as Toys "R" Us, which suffered from over-dependence on a single platform, leading to its eventual bankruptcy [4][5] - The current situation in the restaurant industry shows that many small brands are similarly vulnerable to algorithm changes and rising commission fees imposed by platforms [5][6] Group 3: Strategies for Independence - To combat platform dependency, restaurant brands are encouraged to build their own private traffic channels and establish independent delivery capabilities [8][12] - Successful examples include Luckin Coffee and major fast-food chains that have developed their own membership systems and private ecosystems to enhance customer loyalty and data ownership [8][10] - Third-party delivery services are emerging as viable alternatives, providing flexibility and reducing reliance on single platforms, thus empowering brands in their operational strategies [10][12] Group 4: Future Outlook - The balance between leveraging platform advantages and maintaining operational independence is crucial for sustainable growth in the restaurant sector [12][13] - Brands must focus on enhancing product quality and service experience while utilizing platforms as effective customer acquisition channels [13]