Core Viewpoint - The ongoing subsidy war in the instant retail market is harming the quality of services provided by merchants, leading to a decline in consumer satisfaction and threatening the sustainable development of the industry [1][5][19]. Group 1: Industry Challenges - Instant retail platforms have engaged in aggressive promotional tactics, such as "18 off 18" and "0 yuan milk tea," resulting in significant order volumes, with Meituan reporting 1.5 billion orders on July 12 and Taobao Shanguo and Ele.me exceeding 80 million daily orders [2]. - Merchants are facing operational disruptions, profit margin compression, and declining service quality due to forced participation in price subsidies, with reported subsidy burdens ranging from 30% to over 70% [3][6]. - The average profit margin per order has decreased by 10% to 30% during subsidy campaigns, leading to increased management costs due to higher consumer complaints and compensation claims [6][7]. Group 2: Association's Initiatives - The China Chain Store & Franchise Association (CCFA) has called for an end to forced participation in price subsidies and the use of manipulative tactics such as "traffic bias" and "search downgrading" [3][10]. - The association advocates for a shift from price competition to value competition, emphasizing the need for reasonable profit margins to avoid a vicious cycle of declining quality and consumer loss [4][14]. - The CCFA's initiatives aim to establish a healthy industry ecosystem characterized by quality service, reasonable profits, and sustainable development [14][20]. Group 3: Recommendations for Improvement - The association suggests that platforms must standardize subsidy practices, ensuring transparency in algorithms and subsidy mechanisms to protect merchants' operational autonomy [10][11]. - Merchants are encouraged to maintain quality standards and avoid practices that harm consumer rights, setting reasonable profit margins to prevent negative business cycles [11][25]. - A diversified competitive landscape is recommended, leveraging digital transformation and supply chain optimization to enhance efficiency and reduce costs [12]. Group 4: Government and Regulatory Role - Local governments are concerned about the impact of the subsidy war on sustainable industry development and consumer engagement, advocating for a balanced approach to consumption and brand interaction [9][20]. - The CCFA emphasizes the need for government oversight to ensure fair competition and to prevent harmful practices that could undermine the industry [20][22]. - The association's recommendations align with national policies aimed at boosting consumption and supporting the transformation of retail and dining sectors [15][16].

为规范市场秩序、促进行业规范健康发展，北京电子商务协会发出倡议：一、坚守合规底线，维护市场 公平；二、聚势平台赋能，助力商家共赢；三、践行社会责任，共筑健康生态。淘宝、饿了么相继转发 上述倡议。(新浪科技) ...

Core Viewpoint - The current battle in instant retail, particularly in food delivery, is characterized by a significant increase in subsidies and order volumes, but the real competition lies in the underlying infrastructure capabilities rather than just the scale of subsidies [2][4][24]. Group 1: Order Data and System Capabilities - Order data serves as a battle report, while system capabilities represent the true front line of competition [3]. - The latest order statistics show that JD's food delivery surpassed 25 million orders, while Taobao Flash Sale and Ele.me exceeded 80 million orders, and Meituan reached a peak of 150 million orders [7][8][12]. - Meituan's growth potential appears greater despite its larger base, as it has achieved significant order volume increases with lower subsidy levels compared to competitors [12][18]. Group 2: Key Differentiators - The primary differentiator among the three platforms is their fulfillment and supply capabilities, with Meituan leading in this area [11][12]. - JD's late entry has resulted in a longer construction period for its infrastructure, raising questions about its capital capacity [11]. - Taobao Flash Sale, while integrating resources from Ele.me, still faces limitations due to its smaller scale compared to Meituan [12]. Group 3: Misconceptions and Market Dynamics - The misconception that food delivery is a flow business is challenged by the reality that demand for food is constant and cannot be artificially created like retail products [17][24]. - The strategy of using subsidies to drive traffic and create social recognition is flawed in the context of food delivery, where supply and fulfillment must align with consumer demand [17][24]. - Historical patterns indicate that subsidy-driven customer acquisition often attracts price-sensitive users rather than genuine demand, leading to low conversion rates and customer lifetime value [23][24]. Group 4: Future Considerations - The ongoing subsidy wars are unsustainable and should not continue, as they distort market signals and can lead to supply imbalances and degraded user experiences [21][24]. - The focus should shift from mere order volume competition to enhancing the overall ecosystem of instant retail, emphasizing fulfillment capabilities and user experience [24][25].

Core Viewpoint - The article discusses the ongoing competition in the food delivery market, likening it to a war where companies are heavily investing to increase market share and order volume, with a focus on the strategic implications of this "war" for the industry as a whole [1][2][3]. Group 1: Market Dynamics - The food delivery market is experiencing intense competition, with companies planning to invest over 50 billion yuan to increase daily order volume from 100 million to 250 million [1]. - The competition is characterized by aggressive subsidies and marketing strategies, leading to concerns about the sustainability of such practices and the potential for market bubbles [2][5]. - The profit margins in the food delivery industry are low, with total industry profits last year amounting to 30 billion yuan, significantly lower than the 600 billion yuan in e-commerce profits [5][6]. Group 2: Strategic Positioning - Meituan, as the market leader, emphasizes its operational efficiency and ability to provide subsidies at a lower cost, positioning itself as a rational player in an irrational market [2][6]. - Competitors like Alibaba and JD.com are portrayed as challengers willing to disrupt the existing market structure through aggressive capital investment and subsidies [7][8]. - The article suggests that the competition has evolved from a focus on food delivery to a broader battle for control over local life infrastructure, likening it to controlling a city's road network [8][9]. Group 3: Future Outlook - The article posits that the current state of competition may lead to a "trench warfare" scenario, where the outcome depends on the efficiency of resource consumption rather than quick tactical victories [11][12]. - The potential for a ceasefire is contingent on the realization of unsustainable costs associated with continued competition, as companies face pressure from both internal and external factors [17][20]. - The concept of "sunk costs" plays a significant role in the decision-making of companies, making it difficult for them to withdraw from the competition without acknowledging previous investments as losses [18][21].

Core Viewpoint - The current competition among major platforms in the instant retail sector should not be viewed solely through the lens of "low price = internal competition," but rather as a market-driven approach that promotes consumption and stimulates domestic demand [1][9]. Group 1: Instant Retail Market Dynamics - On July 14, Taobao Flash Sale and Ele.me announced their daily order volume surpassed 80 million, while Meituan reported 150 million orders, and JD.com announced over 25 million orders, bringing the total daily orders in this sector to approximately 250 million [2]. - The ongoing debate about whether this instant retail battle is leading to a price war is prevalent, with platforms like Meituan and Taobao Flash Sale attempting to distance themselves from the concept of "internal competition" by promoting substantial subsidies [3][4]. - The emergence of the flash sale model is a response to the saturation of traditional e-commerce and aims to create new demand rather than merely competing for existing market share [5]. Group 2: Consumer Behavior and Market Growth - The flash sale model has resulted in a significant increase in daily order volume, from around 100 million before JD.com entered the market to approximately 250 million now, indicating a market increment of over 100 million orders [5]. - The core value of flash sales is not just speed but the reconfiguration of the "people-goods-scene" logic, enhancing consumer experience from delayed delivery to immediate purchase [5]. - The competition is not limited to food delivery but encompasses a broader range of services and products, leading to the concept of "big consumption" that transcends traditional categories [6]. Group 3: Impact on Domestic Consumption - The current economic strategy emphasizes expanding domestic demand and boosting consumption, with platforms leveraging flash sales to stimulate consumer spending [7]. - Service-oriented consumption has a higher frequency of demand compared to durable goods, making it a critical area for driving consumption growth [8]. - The flash sale subsidy strategy has significantly increased demand for high-frequency consumption scenarios, effectively acting as a distributor of consumption vouchers [9].

Core Insights - Instant retail is thriving in first- and second-tier cities but remains largely unnoticed in lower-tier markets, indicating a significant disparity in consumer engagement and market penetration [2][4][22] Group 1: Market Dynamics - A young consumer from a top 100 county is unaware of instant retail, highlighting a lack of exposure and usage in these regions [3] - In contrast to the bustling promotions in urban areas, such as "Crazy Saturday," consumers in county towns show little interest in similar offers, indicating a disconnect between urban marketing strategies and rural consumer behavior [5][19] - Despite significant investments from major companies in instant retail, the actual consumer demand in many county markets remains stagnant, with preferences leaning towards offline shopping and traditional purchasing methods [4][10] Group 2: Consumer Behavior - Consumers in county towns prioritize price and personal relationships over convenience, often opting to buy directly from local vendors rather than using online platforms [8][10] - The perception of instant retail is that it does not meet the needs of local consumers, who prefer to verify the quality of products in person, especially for fresh produce [10][22] - Seasonal spikes in online consumption occur during holidays when urban residents return to their hometowns, but this does not translate into sustained demand for instant retail services [19][21] Group 3: Business Challenges - Instant retail platforms face significant challenges in penetrating county markets due to a lack of established supply chains and consumer awareness [12][22] - Many local businesses are hesitant to join online platforms due to limited online demand and the complexities of managing inventory and delivery logistics [13][15] - The reliance on third-party delivery services and the high costs associated with instant retail make it less appealing for local merchants, who often find better margins in traditional sales [15][22] Group 4: Future Outlook - Despite the current challenges, major companies like Meituan are still considering the potential of county markets, with plans to focus on these areas in the future [17][19] - The growth of instant retail in county areas is expected to be gradual, with a need for market education and infrastructure development to align consumer habits with service offerings [22][24] - The success of community group buying models in some counties suggests that there is potential for growth in instant retail, provided that it can adapt to local consumer preferences and economic conditions [22][24]

当盛夏的热浪席卷城市，一场比天气更炽烈的即时零售"三国杀"正硝烟弥漫。上个周末，美团公布的日 订单先是超1.2亿，接着突破1.5亿单，此前，京东宣布只用75天日订单量从0到2500万单，阿里透露淘宝 闪购、饿了么日订单达8000万，以上数据昭示着，外卖行业的补贴大战已经进入白热化阶段。 当传统电商纷纷跨入本地生活场域，本地服务巨头却反向切入全品类零售，美团、京东和淘宝闪购三方 正在从履约网络、商户结构与流量入口等多个维度展开贴身肉搏。三大巨头都剑指"即时零售"这一万亿 市场，但大战背后呈现出三大平台怎样的差异化作战思路？南都试着从战略动机和业务基因中找寻答 案。 外卖业务"钱难赚"，美团欲寻找第二只"现金奶牛" 美团是这场外卖"补贴大战"中唯一一个没有涉及传统货架电商的平台，对于这场即时零售的"三国杀"， 美团从一开始就呈现出势在必得。据报道，7月5日的首次日订单高峰，美团对于淘宝闪购发起的猛攻采 取了"放开限制、全力补贴"的策略，结果就是美团的夏季消费高峰提早了整整一个月，以1.2亿日订单 纪录证明了自己在外卖赛道的攻防优势。而在下一个周末，美团即时零售的订单量再创新高达到1.5 亿。横向比较此次参战的三大 ...

Core Viewpoint - The article emphasizes the importance of fair competition in the market and highlights the negative impacts of aggressive price subsidy wars initiated by certain platforms, which disrupt market order and threaten the sustainable development of the industry [1][2]. Group 1: Market Competition and Subsidy Wars - The China Chain Store & Franchise Association has called for the regulation of low-price subsidy competition to maintain market fairness and protect consumer rights [1]. - A recent initiative from the restaurant industry association in Zunyi urged delivery platforms to stop extreme subsidy practices, which have led to a vicious cycle of businesses facing losses if they do not participate in the subsidy wars [1][2]. - The ongoing delivery subsidy wars have resulted in increased orders and consumer benefits, but they also pose risks to the quality of goods and services [1][2]. Group 2: Regulatory and Self-Regulatory Measures - Industry associations advocate for timely intervention by market regulators against monopolistic behaviors such as "choose one from two," price manipulation, and other unfair competition practices [2][3]. - If the subsidy wars lead to consumer rights violations, it is deemed a violation of business conduct, warranting strong condemnation and self-regulatory investigations by associations [2][3]. - The complexity of the decision-making process for businesses regarding participation in subsidy activities necessitates careful analysis to avoid oversimplifying the relationship between subsidies and business challenges [2][3]. Group 3: Distinguishing Competition Types - It is crucial to differentiate between normal market competition and "involution" type of harmful competition, as the latter involves damaged participants and infringement behaviors [3]. - Normal market competition should enhance the welfare of all participants, while harmful competition leads to losses for some, thus requiring legal protection for the former [3][4]. - The article stresses the need for a legal framework to uphold fair competition, referencing laws such as the Anti-Monopoly Law and the Consumer Rights Protection Law [3][4]. Group 4: Enhancing Consumer Rights - Strengthening market self-regulation and introducing collective litigation and dispute resolution mechanisms are essential for empowering consumers in the marketplace [4]. - Consumers must have more avenues to protect their rights and balance power in transactions, which is vital for fostering genuine fair competition [4]. - The article concludes that a robust legal system is fundamental to distinguishing between harmful competition and fair practices, ultimately promoting a market environment that benefits all participants [4].

Core Viewpoint - The recent competition among major platforms like Meituan, Taobao Flash Sale, and JD Delivery has intensified, leading to significant promotional activities and a surge in order volumes, but also exposing issues related to order cancellations and merchant pressures [1][5][7]. Group 1: Promotional Activities - Meituan has issued "0 yuan purchase" coupons, allowing consumers to redeem drinks from various brands [1]. - Taobao Flash Sale has provided large red envelopes and discounts such as "18.8 off 18.8" to attract customers [1]. - JD Delivery has subsidized 100,000 portions of crayfish at a price of 16.18 yuan each, available from 6 PM to 2 AM [1]. Group 2: Order Volume and User Engagement - Meituan reported over 150 million daily orders on July 12, with specific segments like "Pin Hao Fan" and "Shen Qiang Shou" contributing significantly [1]. - Taobao Flash Sale and Ele.me announced a new daily order record of over 80 million, with active users exceeding 200 million and a week-on-week net increase of 15% [3]. - The order punctuality rate for Taobao Flash Sale remains stable at 96% [3]. Group 3: Merchant and Consumer Issues - Consumers have raised concerns about Meituan's "0 yuan purchase" program, citing forced cancellations of orders without consent [5]. - Similar complaints have emerged for Taobao Flash Sale, where merchants have reported being unable to fulfill orders due to the pressure from large discounts [7]. Group 4: Market Outlook and Financial Implications - Goldman Sachs predicts that the competition in the food delivery market will continue into the second half of the year, with a projected 30% year-on-year growth in order volume [7]. - The total investment by Alibaba, JD, and Meituan in the food delivery sector reached 25 billion yuan (approximately 3 billion USD) in June alone [7]. - Future losses are anticipated for Alibaba and JD's food delivery businesses, estimated at 41 billion yuan and 26 billion yuan respectively, while Meituan's EBIT is expected to decline by 25 billion yuan [7].

Group 1 - The core point of the article is the intense competition among Alibaba's Taobao Flash Sale, Meituan, and JD.com in the instant retail and food delivery market, driven by aggressive subsidy strategies and market restructuring efforts [1][2][3][4][19] - Taobao Flash Sale has integrated local retail to enhance its market share and has seen a significant increase in user activity and order volume since its launch, indicating the potential for synergy between e-commerce and instant retail [3][4] - Meituan is responding to the competitive pressure by enhancing its supply chain and operational strategies, including increasing the coverage of its promotional coupons and adjusting its business development (BD) metrics to maintain its market position [12][13][19] Group 2 - The subsidy strategies employed by Taobao Flash Sale are designed to narrow the gap with Meituan in terms of fulfillment, merchant engagement, and consumer perception, providing a critical window for growth [4][6][20] - Meituan's approach to countering competitors involves leveraging its established merchant ecosystem and delivery network to maintain a competitive edge, while also adapting its promotional strategies to match those of Taobao Flash Sale [11][19] - The ongoing battle for market share is reshaping the dynamics of instant retail, with companies like Alibaba and JD.com aiming to disrupt Meituan's established "scale efficiency" narrative through targeted restructuring and aggressive marketing tactics [2][21]