文 | 潮涌社，作者 | 苏苏，编辑 | kiki 美团又在外卖业务上有新动作，7月1日美团宣布三年将建成1200家"浣熊食堂"，发力品质食堂。 浣熊食堂直击幽灵厨房痛点，以集中式外卖厨房为基础，全程供应链可追溯，且消费者可查看食品制作的全流程。 淘宝紧随其后，7月2日宣布淘宝闪购将在12个月内直接补贴消费者和商家共500亿。 补贴方式简单直接，例如发放大额红包、免单卡、官方补贴一口价商品等。淘宝文案最后直接呼吁"淘宝闪购，点外卖更优惠！" 这是两家巨头在外卖领域的最新动作，而外卖又是即时零售的兵家必争之地。这场即时零售之战已进入白热化阶段。 此前6月底，各大巨头也动作频频。6月23日阿里宣布饿了么、飞猪并入电商事业群。 同日，美团宣布收缩优选业务，要全面拓展即时零售业务，旗下小象超市要覆盖所有一二线城市。 京东继外卖行业后，又宣布要进军酒旅、白酒、家装行业。 这些业务看似毫不相关，实际上都表明了各大巨头背后同样的战略意图，那就是打造一个涵盖吃饭、购物、酒旅全方面业务的超级APP。 此前已经持续了几个月的外卖大战，只是这个战略的前奏。各家献上百亿补贴，拼杀外卖订单，实则是在用外卖打开流量入口，抢夺用户习惯。 ...

Core Viewpoint - JD.com, led by founder Liu Qiangdong, is entering the hotel and travel sector, aiming to compete with established players like Ctrip and Meituan by leveraging its extensive user base and supply chain capabilities [1][5][9]. Group 1: Strategic Moves - JD.com has launched the "JD Hotel PLUS Membership Program," allowing hotel merchants to enjoy up to three years of zero commission [4]. - The "JD Travel" service has been promoted to a primary entry point on the JD app, indicating a strategic push into local lifestyle services alongside food delivery and instant retail [4][16]. - The company aims to replicate its successful low-cost, subsidy-driven strategy from the food delivery sector in the hotel and travel market [6][8]. Group 2: Market Context - The hotel and travel industry is seen as a high-margin business compared to food delivery, with Ctrip reporting a gross margin of 80.32% in Q1 2025 [9][14]. - JD.com is expected to face significant competition from Ctrip, which has recently reported strong revenue growth and a market capitalization exceeding 300 billion HKD [12][13]. - Meituan is also tightening its grip on high-star hotels, indicating a competitive landscape where multiple players are vying for the same consumer base [15]. Group 3: Operational Insights - JD.com has been actively recruiting talent from competitors, including key personnel from Meituan's travel division, to strengthen its market position [10]. - The company is focusing on building a comprehensive supply chain for the hotel and travel sector, aiming to reduce costs significantly [9][18]. - Liu Qiangdong emphasized the importance of supply chain management in JD.com's future strategies, indicating a shift towards more integrated service offerings [18][19].

" 留下有话事权的人，做将业务更聚焦的事 。 " 作者丨梁辰 编辑丨董子博 少了437个字，少了9个人。 6月26日晚间，阿里巴巴集团发布2025财年年报。业绩数据早在一个月前公布，年报的重点是管理层对战 略和业务的思考，而"致股东的信"是整个年报的精髓。 对比发现，2025财年少了一页A4纸的描述。内容上，年报不再单独展开阐述"经营原则"，转而反复强调 AI的重要性，甚至 将AI增补进"核心业务"范畴，将"电商和云计算"变为"电商、AI+云" 。 另一个巨大的变化是，多位阿里巴巴各个时期的关键人物退出阿里合伙人，其中既有创业"十八罗汉"中的 彭蕾、戴珊，又有前CEO张勇、前CFO武卫，还有曾被视为"接班人"的俞永福。 一位二级市场分析师告诉雷峰网，这次退出的合伙人很多已经离开阿里巴巴， 当然可以说是给吴泳铭和蒋 凡扫清障碍 ，由于这些人长期不在业务一线，所以不再参与日常经营管理决策，也有利于企业良性运行。 作为阿里巴巴最重要的决策机构，合伙人的进出一直有着严格的规定。此次年报披露，共有9人退出，并 没有补入新合伙人。 不仅如此，阿里巴巴此次披露合伙人在阿里巴巴集团职位罗列也更加精简，不再罗列他们在子业务集团 ...

作者｜天宇 来源｜派代 2025年6月23日，阿里巴巴集团CEO吴泳铭的一封全员邮件震动行业：即时零售巨头饿了么、在线旅游平台飞猪正式并入阿里中国电商事业群，由蒋凡统一 掌舵。尽管二者保持公司化独立运营，但业务目标与资源调配将与电商事业群深度协同，且此举标志着阿里从"电商平台"向"大消费平台"的战略跃迁。 而推动阿里电商加速整合的直接动力，来自淘宝闪购的爆发式增长，而数据是最好的证明。 这一调整绝非偶然，淘宝闪购的爆发式增长或成为阿里做出该决策的关键催化剂。 数据显示，淘宝闪购上线不足一月，其日订单量已突破4000万单，非茶饮品类占比高达75%；至天猫618期间，峰值日单量更飙升至6000万，相当于"再造一 个饿了么"，带动平台用户规模双位数增长，GMV同比提升10%。 这一远超外界预期的数据，也让阿里看到"即时零售+电商"融合的颠覆性潜力。因此，阿里此次组织调整，很可能是将淘宝打造成"大消费航母"的关键一 步。派代「智库」即时零售专家老张，便表示这次调整也显露出阿里想将淘宝做成超级APP的目标。 至于阿里能否如愿、此举又会给广大商家带来哪些影响与机遇，派代也就此话题采访了多位业内专家。 阿里此次做出将饿了么 ...

作者 | 刘宝丹 编辑 | 黄昱 以高频业务带动低频业务成交，这是互联网巨头们破解流量焦虑的新解法。作为电商巨头的阿里，也打 算深耕这一路径。 6月23日，阿里巴巴集团CEO吴泳铭宣布，即日起，饿了么、飞猪合并入阿里中国电商事业群，饿了么 董事长兼CEO吴泽明（范禹）和飞猪CEO庄卓然（南天）向电商事业群CEO蒋凡汇报。 这不是简单的调整，而一次重要的战略升级。将即时零售和酒旅业务整合进电商事业群，意味着淘宝正 在从单一的电商平台转向大消费平台。 相对于内卷的电商，即时零售具备广阔的市场潜力，且以高频交易著称，这对流量焦虑的货架电商平台 很有吸引力。阿里显然不想错过这一机会。 移动互联网行业在经过十多年的发展后再次迎来大洗牌，这将是一场融合线上线下能力的生态之战，电 商、即时零售、酒旅将被统一整合进一个超级入口。 AI时代呼啸而来，这将是一个更具寡头效应的时代，只有胜者才能继续称霸。 拆分两年后，重新抱团 这是一次跨越三个部门的整合。 饿了么原本属于阿里六大业务之一的本地生活集团，飞猪则是众多"N"业务中的一个，这次阿里将饿了 么和飞猪统一整合进电商事业群，后者将成为囊括国内外电商、1688、咸鱼、饿了么、飞 ...

Core Viewpoint - Alibaba Group is strategically upgrading from an e-commerce platform to a "big consumption platform" by merging Ele.me and Fliggy into its China e-commerce business group, aiming to enhance resource integration and address challenges in traffic and supply chain optimization [1][3][4]. Group 1: Strategic Changes - The merger of Ele.me and Fliggy into Alibaba's China e-commerce business group reflects a shift towards a more integrated operational model, with both companies maintaining their corporate management structures while aligning with the group's unified goals [1][3]. - This strategic adjustment is part of Alibaba's broader initiative to consolidate resources within its e-commerce sector, which includes the establishment of the e-commerce business group in November 2024, led by Jiang Fan [3][4]. - The decision to merge these businesses indicates a reevaluation of the independent value of local lifestyle services within Alibaba, suggesting that competition has rendered such independence less viable [3][4]. Group 2: Market Dynamics - The competitive landscape of the e-commerce market is intensifying, with players like JD.com entering the food delivery and travel sectors, prompting Alibaba to expand its e-commerce offerings [1][7]. - As e-commerce growth slows, platforms are facing rising user acquisition costs, leading to a focus on innovative business models to escape the "involution" of the market [7][10]. - The integration of Ele.me and Fliggy is expected to enhance Alibaba's capabilities in instant delivery and tourism, allowing for a comprehensive coverage of both "far-field" e-commerce and "near-field" retail [4][10]. Group 3: Future Outlook - Alibaba is moving towards a "super app" model, where the integration of various services will create a more cohesive user experience, rather than maintaining multiple independent platforms [5][10]. - The company is prioritizing investment in instant retail to attract new users, with the recent launch of Taobao Flash Purchase achieving over 40 million daily orders shortly after its introduction [8][9]. - The ongoing adjustments within Alibaba's strategy indicate a commitment to enhancing user experience and operational efficiency, with a focus on digitalization and supply chain improvements in emerging markets like instant retail and tourism [10].

马斯克旗下的X平台打造成"超级App"，提供投资和交易服务，另外，X也在探索引入信用卡或借记 卡。（英国金融时报） ...

以下文章来源于和讯商业 ，作者康嘉林 和讯商业 . 商业世界的故事、逻辑、认知。由"和讯商业"团队出品。 6 月 1 7 日 晚间 ，京东 创始人刘强东在一次分享会上坦承，将 杀入酒旅赛道。 18 日中午，京东黑板报正式公布具体举措： 酒店商家参与 "京东酒店PLUS会员计划"，享受最高三年0佣金。 京东 还强调，目前已与 全国超 8亿高消费力用户，与全国超30000家大型企业和超800万中小企业客户深度合作，京东用户及合作伙伴与四星以上酒店主 力客群高度重合，能够为大家带来更丰富多样的高潜力客流。 值得注意的是，此前为二级入口的 "京东旅行"已出现在京东 APP 首页的一级入口，与外卖、即时零售并列形成本地生活 三角 矩阵，挤入一级流量池。 这也意味着，京东将深入携程等 OTA 平台腹地，开启新一轮厮杀。 与外卖打法相近 切入酒旅，京东同样走高质量 、 烧钱补贴 、免佣金 模式，与当时京东杀入外卖的打法如出一辙。 例如在机票预订上，标注了 "机票查询·无捆绑"字样，价格仅含机建燃油费，还面向新用户发放 145 元的新客礼包。而此前， OTA 平台将机票捆绑保险 的做法曾让消费者怨声载道。 低价、补贴短期拉新 ...

Core Insights - JD.com is entering the hotel and travel sector, aiming to compete with established OTA platforms like Ctrip [1][2] - The company plans to implement a "JD Hotel PLUS Membership Program" offering up to three years of zero commission for hotel partners [1] - JD.com has a significant user base, with over 800 million high-spending users and partnerships with over 30,000 large enterprises and 8 million SMEs, which aligns with the target customer base of four-star and above hotels [1] Group 1: Business Strategy - JD.com is adopting a similar strategy to its entry into the food delivery market, focusing on high-quality service, subsidies, and zero commission models [3] - The company aims to reduce costs in the hotel and travel sector by leveraging its supply chain, targeting a cost reduction to 20% of current levels [6] - JD.com has a history in the travel sector, having launched flight booking services in 2011 and a dedicated travel channel in 2014, indicating a long-term interest in this market [6] Group 2: Competitive Landscape - The entry into the hotel and travel market is expected to intensify competition, particularly against Ctrip, which has reported a gross margin of 80.32% in Q1 2025 [6][10] - Ctrip's strong relationships with high-star hotels and its focus on business travelers have solidified its market position, making it a formidable competitor for JD.com [11] - Meituan is also strengthening its position in the hotel sector, recently partnering with Marriott International to enhance its service offerings [12] Group 3: Financial Performance - JD.com's new business ventures, including food delivery, have resulted in significant operating losses, with the loss rate increasing from 13.8% to 23.1% in Q1 [3][4] - The hotel and travel sector is viewed as a high-margin opportunity compared to the low margins in food delivery, which average less than 3% [5] Group 4: Leadership and Future Direction - JD.com is reportedly hiring aggressively for its travel division, indicating a commitment to building a strong team to support its new business strategy [7] - The company is also exploring innovative projects, including a stablecoin initiative aimed at reducing cross-border payment costs significantly [16]

这与数年前互联网企业的业务模式大相径庭。曾几何时，互联网企业开拓新业务，往往会单独出一个 APP，以此来区隔业务，同时也能在 APP 应用市场中多占一个位置，获取更多流量。 比如腾讯自己，为了与抖音竞争而推出了微视。腾讯曾耗资百亿推广独立APP微视，2018年春节，微视 通过QQ走运红包合作发放微视礼包，新增数百万用户。黄子韬、刘昊然、张天爱、迪玛西等数十位明 星助阵拜年并入驻微视，但结局如何呢？最终还是败于抖音。再比如当年字节跳动，在今日头条之外， 先后推出内涵段子、皮皮虾、抖音等多款 APP，构建起庞大的内容生态。 但如今，时代已经发生了变化。从外卖大战到即时零售的角逐，巨头们纷纷将新业务融入已有的超级 APP 中，all in "超级 APP" 模式。这种转变背后，有着怎样的战略考量？超级 APP 模式又为何会成为巨 头们的新宠？它是否会成为未来十年互联网发展的主流模式？ 即时零售超级APP趋势 2025 年以来，京东秒送、美团闪购、淘宝闪购三家巨头先后重推即时零售业务。然而有趣的是，在三 家的业务推进过程中，美团闪购虽然独立出来，但并没有像美团外卖APP那样，再单独拆分出一个美团 闪购 APP；京东秒 ...