Group 1 - The core viewpoint of the articles highlights the transition from a fierce competition in food delivery subsidies to a more sustainable competition in instant retail, indicating that while the food delivery battle has slowed down, the race for instant retail continues unabated [1][4] - The peak daily order volume for food delivery platforms has reached 250 million, positioning it as a significant growth engine in the retail market, closely following traditional e-commerce delivery volumes [1] - The competition in instant retail is characterized by a focus on beverage categories, as they can drive significant traffic without time or frequency constraints, aiming to cultivate instant consumption habits and expand into a broader market [2][5] Group 2 - The logistics of the "last mile" delivery is crucial in the instant retail sector, with third-party delivery services expected to gain growth opportunities due to the increasing complexity of fulfillment and the need for neutral positioning [1][3] - The instant retail market is projected to exceed 2 trillion yuan by 2030, with the potential for instant delivery volumes to match those of traditional e-commerce [4][5] - The penetration rate of instant retail platforms among online shoppers is expected to rise from 49% in 2023 to 59% in 2024, indicating a growing consumer base and loyalty, with loyal users increasing from 24% to 46% in the same period [4][5] Group 3 - The trend of brands building their own membership systems and private channels is emerging, allowing them to reduce dependency on platforms and create a closed-loop service with third-party delivery services [5] - Third-party delivery is becoming a standard for brands, as it allows them to maintain pricing power and flexibility in logistics, positioning platforms primarily as channels for customer acquisition [5] - The industry is moving towards a multi-faceted ecosystem where third-party delivery complements self-operated delivery, with the aim of achieving a scale comparable to traditional e-commerce delivery [5]

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]

Group 1 - The competitive logic of the 618 shopping festival is undergoing a structural transformation, with traditional e-commerce facing challenges from "lowest prices" and "billion subsidies," leading to a rational return of consumers and a trend towards fragmented traffic [1] - The shift towards instant retail not only shortens order cycles and reduces return rates but also points to a growing market in instant consumption scenarios, extending from dining to supermarkets, electronics, and beauty products, with a projected market size exceeding 2 trillion yuan by 2025, where non-food categories will account for over 60% [1] - The emergence of a new competitive dimension in retail ecology emphasizes the advantages of third-party delivery services that can deeply integrate with brands and platforms, as exemplified by SF Express's collaboration with over 7,500 new KA stores in 2024, providing one-stop delivery solutions [1] Group 2 - SF Express serves as a flexible delivery partner for platforms like Douyin and WeChat, while also supplementing capacity for major platforms like Meituan and Ele.me during peak periods, supporting diverse scenarios such as live streaming and private domain e-commerce [2] - During the 618 shopping festival, SF Express not only provides instant delivery services but also integrates into various logistics stages, addressing the mismatch between traditional logistics capacity and order growth during peak times, achieving faster delivery through methods like "warehouse-to-delivery" [2] - The company utilizes big data forecasting and AI scheduling technology to create differentiated and refined capacity plans across the country, ensuring dynamic adjustments in high-demand areas such as core business districts and large communities [2]