【导读】美团宣布正式推出零售品牌"美团闪购" 中国基金报记者 忆山 继上周预告造势后，4月15日上午，美团宣布正式推出"美团闪购"平台，进一步加码即时零售业务。 美团表示，将联合全国近3000个县市区旗的零售商、品牌商与本地中小商家，服务全国10亿消费者的日常购物需求，并将"等快 递"升级为"30分钟送达"。 美团还称，他们致力于为商家创造生意增量，帮助商家降低经营成本，坚持行业最短的3天账期，支持随时提现，比自营快递电 商平均回款周期缩短2个月。 基金君更新美团App后发现，"美团闪购"已正式以独立入口的形式出现在首页，在手机家电类目里，华为、小米、苹果等品牌均 已入驻。 日前，美团核心本地商业CEO王莆中表示，即时零售的发展大势是挡不住的，"30分钟送万物"创造的新体验一定会满足更多用 户需要。 除了美团之外，还有多家头部电商积极布局即时零售赛道。其中，京东在2024年便将即时零售列为"三大必赢之战"之一，并将 旗下"京东小时达"与"京东到家"两大即时零售业务合并升级为"京东秒送"。 进入2025年，京东将布局重点放在外卖业务上，相继推出"0佣金""百亿补贴"等活动。数据显示，京东外卖上线40天，日订单量 ...

对决的种子，三年前就已埋下 Fast Reading 作者丨瀚星 京东与美团必有一战，这是互联网圈多年来的共识。 支撑这一判断的逻辑是：线上零售的配送时效性越来越强，"外卖"的品类越来越丰富，两种业态的 边界越来越模糊。前者是京东的专长，后者是美团的强项，一场短兵相接在所难免。 近日，这场战争以一种出人意料的方式迅速升温。 京东高调入局"整顿"外卖行业，刘强东屡次公开表达要认真做外卖的决心，CEO许冉则在近日的一 场群访中直戳外卖行业痛点。另一边，一向低调的美团也公开回呛：核心本地商业CEO王莆中在社 交平台晒出美团的即时零售成绩，并讽刺对手"狗急跳墙"。这一举动，被刘强东四两拨千斤回怼： 不打口水仗，不能产生社会价值。 王莆中的"破防"和刘强东的"淡定"背后，两家许久未见硝烟的互联网巨头之间，一场针锋相对的白刃 战一触即发。 京东揭了美团外卖的行业痼疾，美团戳了京东即时零售成绩欠佳的痛处。高管隔空喊话，双方谁更 受伤？ 京东与美团必有 战 这是互联网圈多年来的共识 ■ 两家公司的高管隔空喊话：京东揭了美团外卖的行业痼疾，美团戳了京东即时零售成绩欠佳 的痛处。 ■ 京东许冉认为，对京东零售来说，外卖业务做好了 ...

4月12日午间，美团本地商业CEO王莆中通过多个渠道在社交平台发文，表达了自己对于京东外卖的看 法。 相关内容全文如下： 1、京东不是第一家想做外卖的公司，也可能不是最后一家。阿里、滴滴、字节不是都做过，滴滴目前 在海外也还在做呢。 2、如果把外卖当作即时零售(30分钟送万物)的一部分，达达和京东到家早在2014年就开始了，只不过 收效甚微。据媒体报道:达达集团疑虚报数据带崩京东 亏损无解、高管出走、核心业务增速已放缓。 3、即时零售这几年发展的如火如荼大家有目共睹:尤其是在生鲜、酒饮、3c数码、药品...等品类的进展 速度远超预期，美团非餐饮品类的订单突破了1800万单，可以说让某些公司如鲠在喉，如芒在背。 4、我们原定在下周正式发布美团即时零售品牌，这在媒体圈不是秘密，发布前很可能还会有各种干扰 出来。不过即时零售的发展大势是挡不住的，"狗急跳墙"也好,"围魏救赵"也罢，"30分钟送万物"创造的 新体验一定会满足更多用户需要，把那些大而无当的仓配体系扫进历史垃圾堆。 美团高管发言 知乎平台截图 观察者网获悉，关于此事，刘强东也在京东内部的聊天表达了自己的看法，称"不要和人打口仗，不能 产生社会价值。" 以 ...

Core Viewpoint - Meituan's flash purchase service will be upgraded to an independent brand, enhancing its visibility and consumer recognition in the instant retail market [2][3]. Group 1: Meituan's Flash Purchase Development - Meituan's CEO Wang Puzhong announced the official launch of the instant retail brand, indicating that Meituan's flash purchase will operate as an independent brand [2]. - The flash purchase service has already surpassed 18 million orders, with a daily average of 10 million orders and a peak of 16 million orders reported in the third quarter of 2024 [2]. - The overall growth of Meituan's flash purchase orders exceeded 25% in 2024, achieving micro-profitability, estimated not to exceed 1 billion yuan [2]. Group 2: Competitive Landscape - Meituan's flash purchase is part of a broader trend among major internet companies, including JD.com and Alibaba, which are intensively expanding their instant retail services [3]. - JD.com has also upgraded its instant retail service to "JD Seconds," and is aggressively entering the food delivery market, aiming for a daily order volume of 5 million [3][4]. - The competitive dynamics are intensified by JD.com's "100 billion subsidy" initiative, which has significantly increased order volumes for participating merchants [4].

Core Viewpoint - Meituan is focusing on AI transformation, particularly in three key areas: unmanned delivery, AI large models and applications, and embodied intelligence, aiming for significant growth in the future [2][11][19]. Group 1: AI Strategy and Investment - Meituan's AI strategy is divided into three main areas: unmanned delivery (including drones and automated delivery vehicles), AI large models and applications, and embodied intelligence [2][11]. - The company is investing heavily in AI, with R&D expenditure reaching 21.1 billion yuan in 2024, the highest since its inception [4][5]. - Meituan is restructuring its workforce to prioritize AI-related roles, reducing positions in operations while increasing algorithm and hardware engineering roles [5]. Group 2: Unmanned Delivery - Unmanned delivery is seen as a critical focus for Meituan by 2025, with two main divisions for automated vehicle delivery and drone delivery, both of which have been in commercial operation for years [12][13]. - The company adopts a "self-research" model for these projects, establishing its own production facilities and attracting talent through external collaborations and university competitions [13]. - Meituan is focused on increasing user engagement and operational metrics for unmanned delivery, recognizing its long-term potential despite current low order volumes [13]. Group 3: AI Large Models and Applications - Meituan's AI product offerings are categorized into foundational products, such as the Meituan AI platform, and consumer-facing products, including the Wow AI community app [16][17]. - The company aims to leverage AI tools to enhance core business operations and has set specific growth metrics tied to AI advancements [17][18]. - Following the success of the DeepSeek product, Meituan is exploring new AI consumer applications, indicating a shift in strategy towards direct user engagement [18]. Group 4: Embodied Intelligence - In the field of embodied intelligence, Meituan is focusing on investments in companies that align with its core business scenarios and ecosystem [19]. - The company has publicly disclosed over 19 investment projects related to robotics, emphasizing a strategy that integrates with its operational needs [19]. - Meituan's investment logic in this area revolves around creating a closed-loop ecosystem that supports its core business [19]. Group 5: Competitive Landscape - Meituan is currently facing intensified competition from JD.com and Douyin, particularly in the areas of food delivery and local services [7][9]. - Despite the competition, Meituan's market share remains stable, with its daily order volume significantly higher than that of its competitors [23]. - The company is actively engaging with key merchants to strengthen partnerships and maintain its competitive edge against rivals [26].

Group 1: New Energy Vehicle Market - In February, China's new energy vehicle sales reached 686,000 units, a year-on-year increase of 79.7%, with a cumulative retail of 1.43 million units in the first two months, growing by 35.5% [1] - The overall retail sales of passenger cars in February were 1.386 million units, a year-on-year increase of 26.0%, while production was 1.736 million units, up 38.7% year-on-year [1] - The penetration rate of new energy vehicles approached 50% in February, driven by policies promoting vehicle scrappage and trade-in [1] Group 2: Real Estate Market in Shanghai - The second-hand housing market in Shanghai saw a significant increase in transaction volume, with 1,432 units sold on March 8, marking a new high for 2025 [3] - From March 1 to 8, over 7,572 second-hand homes were sold, averaging about 940 units per day, indicating a strong market recovery [3] - The market is characterized by high demand for smaller, affordable units, while the pressure to reduce inventory remains in non-core areas [4] Group 3: Shenzhen Industrial Space Initiative - Shenzhen's state-owned assets committee released 100,000 square meters of industrial space, offering rent-free options for tech companies for up to two years [5] - This initiative aims to attract talent and support technological innovation, providing a conducive environment for startups [6] Group 4: Suzhou Housing Loan Policy - Suzhou introduced a "three lows and one wide" housing loan policy, allowing for a minimum down payment of 15% and monthly payments as low as 100 yuan for the first five years [7][8] - This policy aims to lower the entry barrier for young people and new residents in the housing market, potentially stimulating demand [8] Group 5: Semiconductor Industry Consolidation - North China Innovation plans to acquire control of Chip Source Micro by purchasing shares from its second-largest shareholder, with a total transaction value of approximately 1.687 billion yuan [9] - The acquisition aligns with national policies supporting semiconductor industry consolidation, and if successful, it will enhance competitive capabilities [10] Group 6: JD.com's Retail Expansion - JD.com plans to add 20 new warehouse stores in Tianjin, aiming to enhance its retail footprint and improve delivery efficiency [11] - The company is focusing on integrating warehouse and retail functions to compete effectively in the fresh food market [12] Group 7: Double Success Pharmaceutical Restructuring - Double Success Pharmaceutical announced the termination of its restructuring plan due to failure to reach an agreement on transaction terms, raising concerns about its financial stability [13][14] - The company has faced continuous losses and is at risk of delisting, highlighting the challenges in the pharmaceutical sector [14][15]

Core Viewpoint - JD.com has entered the food delivery market with a focus on providing social security benefits to delivery riders, sparking competition among major players like Meituan and Ele.me regarding rider welfare [2][5][6]. Group 1: JD.com's Actions and Market Position - JD.com officially launched its food delivery service on February 11, 2023, with two main initiatives: providing social security for full-time riders and offering zero commission for new merchants in Beijing [2][3]. - The company plans to gradually cover social security costs for full-time riders starting March 1, 2025, and will also provide accident and health insurance for part-time riders [4]. - Within a week of its launch, JD.com expanded its delivery service to 39 cities, with some cities experiencing over 100 times growth in order volume [14]. Group 2: Competitive Landscape - The announcement of social security for riders has prompted Meituan and Ele.me to respond quickly, with Meituan stating it has been working on social security for its riders since July 2022, and Ele.me claiming to have started providing social security for its "Blue Riders" in early 2023 [2][4][16]. - The food delivery market has seen a shift where riders are increasingly viewed as permanent gig workers, making welfare benefits a critical topic for major companies [6][8]. Group 3: Challenges and Strategic Decisions - JD.com faces challenges in attracting small and medium-sized merchants to its platform, as the Chinese food service market is highly fragmented [35][36]. - The company is also contending with the siphoning effect of larger platforms, as seen with Ele.me's struggles after being acquired by Alibaba [36]. - JD.com’s strategy appears to be more defensive, focusing on maintaining its market position rather than aggressive expansion, especially given the low-profit margins of its core business [41][42]. Group 4: Broader Implications and Future Directions - The entry into food delivery is seen as a way for JD.com to leverage high-frequency demand to enhance its logistics capabilities, which are crucial for its broader e-commerce operations [50][53]. - The competition in the food delivery sector is not just about food but also about logistics efficiency and the ability to meet consumer demands for rapid delivery [55][56]. - JD.com’s long-term strategy may involve integrating its food delivery service with its existing logistics network to create a more comprehensive service offering [52][54].

今天的闪电仓和上一个阶段的生鲜前置仓拥有类似的构思，却得出不同的结果。 一次计划外的周末旅行，一趟临时的出差行程，一场来势汹汹的感冒，一次心血来潮的深夜厨房烹饪。 事发突然，你有太多要马上买到的商品了 —— 洗漱用品、一次性内衣裤、数据线、药品、调料等等。一 天 24 小时中你的这些即时需求，如今在全国几乎每个地区，打开外卖应用搜索商品，你的需求几乎都能 得到满足。 这背后的供给支撑体系，除了实体零售门店，还有几万家闪电仓。10 月 15 日，美团在即时零售大会上宣 布其闪电仓数量达到 3 万家。美团计划未来三年其闪电仓规模将达到 10 万家，年营收超过 2000 亿元。 闪电仓吸引了来自日用百货、美妆、宠物、医药等多个垂直类目商家的主动参与，增速远超美团的预期 —— 三年前，美团定下了开设 1 万家闪电仓的目标，当时只有便利店一种仓型。随着便利店闪电仓的快速 发展，更多垂直类目商家的参与加速了开仓进程。 大会前一天，美团刚刚与名创优品达成战略合作，后者将开出定制闪电仓——名创优品 24 小时超级店， 利用其供应链能力和商品力探索即时零售，丰富供给生态，美团会在选址、选品、爬坡、配送等方面给予 支持。 闪电仓 ...

本期关注企业：美团、盒马、名创优品。 文丨沈方伟 管艺雯 陈晶 编辑丨管艺雯 定义 "即时零售" 最简单的方式是时效：你可以在一小时内买到商品，且送货上门。 更详细一点，即时零售区别于用快递送货到家的远场电商，其商品（非餐食）在距离消费者 3 - 5km 的地 方发货，送达时间按小时记，也可以全城配送，时效可能会超过 1 小时，目前主要由外卖配送员送货上 门。 最开始，每日优鲜、叮咚买菜做了水果蔬菜一小时上门。这两家生鲜电商公司在 2021 年 6 月末上市，它 们持续烧钱、长期亏损， 每日优鲜在 2022 年的下半年遭遇危机 ，此后倒闭，叮咚买菜直到 2023 年才首 次盈利。 三年疫情诞生了很多线上下单、商品即时送达的需求，也帮助平台和零售商们培养了消费者 "一小时买万 物" 的认知。一个典型的例子是，之前可能所有人都想象不到， 在即时零售平台上也可以买露营手推车。 因为要突破外卖的天花板、充分利用数百万配送员在配送餐食外卖之外的闲暇时段，美团在即时零售领域 做了最多尝试：模式上，美团自 2019 年开始探索包括自营业务小象超市、歪马送酒，闪购业务的闪电仓 等；品类上，生鲜之外，美团还陆续探索了日用百货、 ...