2025.12. 27 本文字数：3563，阅读时长大约7分钟 作者 | 第一财经 陆涵之 "那天爆单到外卖机都坏了，没法打印单据，我们只能用手机看然后把订单抄下来再做。"回顾7月初的外卖大战，餐饮人余丽（化名）仍心有余 悸。 2025年7月5日，自4月开始的外卖补贴战进入最高峰，对于不少餐饮人而言也是今年最难忘的一天。 令她哭笑不得的是，忙碌一个月后计算利润时，发现7月的利润不如往常。余丽对第一财经记者表示，7月店里的营业额超20万元，与2024年7 月（当时开业不久）5万元的营业额相比增长了许多。但所有的成本开支也在翻倍：日常每月的水电费为5000元，7月到了1万元。食材、人工 费用也增加了，7月还多雇了一个临时工。平台的活动支出每单也比往常高10%。7月结束后统计收支时，余丽发现爆单的一个月内，几乎没有 利润。 与利润一起下滑的还有客单价。余丽表示，在外卖大战开始前，每单客单价超过30元，大战期间客单价滑落至15元，几乎腰斩。 温州锅贴店主黄林（化名）在今年7月进入餐饮业，刚入行就碰上了外卖大战。由于是新手，初期黄林什么单都接，"当时不少单到手就2元或者 3元，后来有些活动不参与才提高了客单价。" 黄林 ...

外卖大战的尽头或许是比拼供应链。12月24日，有消息称美团的"拼好饭"将与意向商家合作开店，美团会提供菜品和制作标准，以及门店选址指导，这些 门店以服务"拼好饭"外卖渠道为主，部分可能会提供堂食。同一日，拼好饭联合汉堡王推出用户定制产品，包括汉堡豆浆早餐套餐、天椒烤鸡腿堡等，这 些套餐的售价均未超过20元。 在经历了没有赢家的外卖补贴大战后，美团CEO王兴公开表示"价格战"对行业没有创造价值且不可持续。而一直以来被视为以"低价"带动单量的"拼好 饭"，如今也开始深耕供给侧，进行价值重构。 3500万日订单量后，深入改造供应链 据了解，汉堡王将与拼好饭开展"C2M模式"（从消费者到生产者）的深度合作，优化供应链、定制新产品。双方通过用户口味偏好和消费演变、用户评 价与建议等数据的汇总分析，反向定制，完全基于中国用户真实需求推出新品。汉堡王中国相关负责人表示，品牌调研发现，拼好饭活跃用户对于"超 值"的定义正在快速进化：从过去单纯追求"低价吃饱"，已明确转向渴望在极具竞争力的价格内获得"味觉满足"与"品质体验"。 据悉，今年以来，肯德基、海底捞、瑞幸、书亦烧仙草、鲍师傅等品牌也与拼好饭联合推出定制套餐，还进行了联 ...

平台数据显示，开通"明厨亮灶"对商家经营有明显的正面影响，参与商家的单店订单量最高增长可达 5%～8.6%，消费者投诉率下降23%，开通直播的商家复购率最高提升12%，客单价也提高了8%。据了 解，今年7月，美团拼好饭与百万中小餐饮商家正式推出"百万亮厨"计划，将与20万商家打造透明开放 标杆，通过图文实况、视频直播等，向顾客即时更新真实的后厨环境；同时，还将推动100万商家升级 明厨亮灶，建设透明后厨。 具体来说，为了让顾客更便捷了解到商家的真实门店情况，拼好饭为商家开辟了专区展示门头图、店内 环境图、后厨图，支持他们把"三图"放在和商品同等重要的位置展示。为了降低中小商家的食安展示门 槛，拼好饭在行业内首创了更轻量化的"食安日记"功能，即使是拼好饭上的小商户，也可以用手机打卡 的方式，像上传朋友圈一样，随手记录后厨真实环境。最近，不少商家也开通了"明厨亮灶"后厨直播， 很多小餐馆每天午晚高峰准时开播，炒菜、装盒全程透明。 北京商报讯（记者 张天元）12月2日，北京商报记者由美团了解到，自今年7月拼好饭推出"百万亮 厨"计划以来，已有超过41万商家升级明厨亮灶。商家表示，不再通过复杂的营销方式和成本投入去找 ...

Core Insights - The article discusses the increasing trend of transparency in the food delivery industry, particularly through the "Million Bright Kitchen" initiative launched by Meituan's "Pin Good Meal" service, which aims to enhance customer trust by allowing restaurants to showcase their kitchens and food preparation processes [1][2][3] Group 1: Initiative Overview - The "Million Bright Kitchen" plan was launched in July, with over 410,000 merchants upgrading to transparent kitchen practices [1][3] - The initiative includes real-time updates of kitchen conditions through images and live broadcasts, aiming to alleviate customer concerns regarding food safety and hygiene [2][3] Group 2: Merchant Benefits - Merchants participating in the program have reported significant operational improvements, with single-store order volumes increasing by 5% to 8.6% and a 23% reduction in consumer complaints [3] - Merchants that implemented live streaming saw a maximum increase of 12% in repurchase rates and an 8% rise in average transaction value [3] Group 3: Technological Integration - The introduction of AI technology in the "Bright Kitchen" initiative allows for automatic photo enhancement and real-time monitoring of kitchen hygiene practices, ensuring food safety and quality [3] - The AI inspection feature helps identify compliance with hygiene standards, promoting a cycle of improvement among merchants [3] Group 4: Future Directions - The company plans to continue enhancing transparency and encouraging compliance among more small and medium-sized merchants while integrating well-known chain brands into the platform [3]

Core Insights - The recent earnings reports from JD, Alibaba, and Meituan reflect the impact of the intense competition in the food delivery sector, indicating a shift in strategy as companies reassess their investments and profitability boundaries [1][3][5] Group 1: Company Strategies - Meituan's CEO Wang Xing firmly opposes price wars in the food delivery sector, stating that they do not create value for the industry [1] - Alibaba's e-commerce CEO Jiang Fan highlighted improvements in unit economics for instant retail, indicating a significant reduction in short-term losses and a notable decrease in overall investment in flash purchase business for the next quarter [1][3] - JD has quietly reduced its investment in food delivery services in the third quarter, signaling a strategic retreat from aggressive competition [1][3] Group 2: Market Dynamics - The food delivery market is entering a more complex phase where companies express a desire to avoid price wars but feel compelled to continue competing [2][5] - The competitive landscape has shifted, with Meituan capturing 47.1% of the market share, Alibaba at 42.3%, and JD at 8.4%, indicating a significant change from previous perceptions of a more balanced market [5] - The reduction in subsidies has led to a noticeable decline in order volumes for both consumers and merchants, with reports of a 20% drop in sales for some businesses [4][5] Group 3: Consumer Behavior - Consumers have adjusted their habits, with many now favoring Meituan and Alibaba's flash purchase services, noting that flash purchase prices are often lower while Meituan offers more reliable delivery speeds [3][4] - The decrease in subsidies has been felt by consumers, with many reporting a reduction in the frequency of low-priced promotions [3][4] Group 4: Future Outlook - The next phase of competition will focus on efficiency rather than capital expenditure, with companies expected to adapt their strategies based on market dynamics [6][8] - Both Meituan and Alibaba are exploring new strategies, such as Meituan's focus on high-value orders and Alibaba's emphasis on "explosive product groups" to enhance customer engagement and reduce decision-making time [7][8] - The ongoing challenges from previous low-price competition will require platforms to innovate in supply chain and operations to emerge successfully from the current market conditions [8]

Core Insights - The article discusses the recent developments in the food delivery industry, particularly focusing on the financial reports of major players like JD.com, Alibaba, and Meituan, highlighting the impact of the "delivery war" on their business strategies and financial performance [2][3]. Group 1: Industry Dynamics - The food delivery battle has led to significant financial strain, prompting companies to reconsider their investment strategies and operational efficiency [2][7]. - Meituan's CEO Wang Xing emphasized the unsustainable nature of the price war, indicating a shift towards efficiency-driven competition rather than capital-driven growth [7][9]. - The market share dynamics have shifted, with Meituan holding 47.1%, Alibaba at 42.3%, and JD.com at 8.4% as of Q3 2025, indicating a significant change from previous perceptions of market distribution [6]. Group 2: Financial Performance and Strategy Adjustments - Alibaba's CFO Xu Hong noted that Q3 represented a peak in investment for flash purchase services, with expectations for significant reductions in the following quarter [3][5]. - Meituan and JD.com have already begun to reduce their subsidies, with Meituan's delivery volume and rider earnings declining as a result of the reduced promotional activities [4][6]. - The article highlights a trend where consumers are noticing a decrease in delivery subsidies, impacting their purchasing behavior and the overall market dynamics [4][5]. Group 3: Future Outlook and Strategic Shifts - The next phase of competition will focus on operational efficiency and innovation, with companies like Alibaba and Meituan exploring new strategies such as "explosive product groups" and "meal sharing" to attract consumers [10][11]. - Both companies are adjusting their focus towards higher-value orders, with Meituan reporting that over 70% of its orders exceed 30 yuan, indicating a strategic pivot towards more profitable segments [10][11]. - The article concludes that the ability to innovate and enhance supply chain operations will be crucial for companies to navigate the post-subsidy landscape and emerge successfully from the current market challenges [12].

《第一财经》YiMagazine独家获悉，团购业务已不再是淘宝闪购的业务重心，相关业务已转移到高德。 一位淘宝闪购华东大区的BD（城市经理）告诉《第一财经》YiMagazine，团购业务"没有做起来，第一 批试点的水花没有那么大"。他提供的数据称，淘宝闪购的团购业务在最初试点那几天"核销是0单"。 淘宝闪购今年8月开始测试团购业务，首批测试城市包括上海、深圳和嘉兴。这3地的用户打开淘宝进入 淘宝闪购后，能够在其头部子菜单中看到"到店团购"入口，与其并列的入口还包括美食外卖、超市便 利、看病买药、盒马鲜生、天猫超市、爆品团、特价酒店等。 "用户的习惯可能很难改变。"上述淘宝闪购BD说，通过巨额补贴，淘宝让用户建立了在淘宝闪购点外 卖的心智，但如果要让用户再建立一个在淘宝闪购买团购券的心智，可能需要额外的巨大投入。 11月2日，深圳市南山区一淘宝闪购站点统一更换工服。｜图片来源：受访者提供 实际上，除了以团购业务起家的美团之外，后来还算成功杀入团购领域的平台只有抖音和小红书。而抖 音和小红书都是拥有社区场景的内容平台，淘宝自身并不具有这样的社区属性。 团购被视为本地生活整体业务中"到店"的一部分，而到店业务被视为 ...

Core Insights - The restaurant industry is entering a "super cost-performance era," where customer demand for value is reshaping the market dynamics, emphasizing the need for businesses to leverage structural cost advantages rather than engaging in price wars [1][3][7] Group 1: Industry Trends - The domestic restaurant market has grown from 3 trillion to 4 trillion in just three years, but the growth rate has slowed down significantly when reaching 5 trillion, indicating a shift from supply-demand imbalance to oversupply [1][7] - The increase in restaurant numbers has led to intensified competition and price wars, with many businesses struggling to maintain profitability despite higher order volumes [7][10] Group 2: Company Initiatives - Meituan has launched the "Prosperity Plan," committing an additional 2.8 billion yuan to support restaurant businesses, including 2 billion yuan for financial assistance and 500 million yuan for infrastructure improvements [1][10] - The company introduced the AI decision-making tool "Kangaroo Advisor," which is now available for free to all restaurant businesses, aiming to enhance operational efficiency across various aspects of restaurant management [4][6] Group 3: Consumer Behavior - There is a notable shift in consumer preferences towards lower-priced options, with 70% of new takeaway orders falling under the 15 yuan price range, highlighting the challenges of maintaining profitability in a low-price environment [7][9] - The demand for "one-person meals" has increased by over 40%, and the search volume for "small portion dishes" has grown by more than 32%, indicating changing consumer dining habits [9] Group 4: Quality and Innovation - Meituan is focusing on quality dining experiences rather than just attracting traffic, with plans to enhance service quality and operational efficiency through various innovative products and services [5][10] - The company is also addressing the issue of malicious competition by upgrading its merchant rating system to promote quality over quantity in service and product offerings [5][10]

Core Insights - The restaurant industry is entering an era of "super cost-performance," where customer demand for value is reshaping the market dynamics [1][3] - Meituan has announced an upgrade to its "Prosperity Plan," committing an additional 2.8 billion yuan to support restaurant merchants in maintaining profits and healthy development [1][10] Group 1: Industry Trends - The shift towards super cost-performance requires merchants to leverage structural cost advantages rather than engaging in price wars [3] - Long-term operational stability is essential for restaurants to withstand short-term market fluctuations [3] - AI tools are becoming increasingly important for enhancing operational efficiency in the restaurant sector, with Meituan aiming to make AI accessible to all merchants [3][4] Group 2: Meituan's Initiatives - Meituan has introduced the AI decision-making tool "Kangaroo Advisor," which covers various operational aspects and is available for free to all industry merchants [4] - The company is focusing on enhancing the quality of dining experiences through initiatives like the "Meituan Dining Committee" and the introduction of new ranking lists [5] - Meituan's "Smart Waiter" AI tool has been adopted by over 186,000 stores, improving customer service and operational efficiency [6] Group 3: Market Dynamics - The reliance on low-price subsidies for delivery services is unsustainable, as it disrupts pricing structures and does not guarantee long-term customer retention [7][10] - The growth of the takeaway market is driven by collaboration between Meituan and restaurant brands, focusing on supply-side innovations [9] - New dining trends, such as "one-person meals" and "small portion dishes," are emerging, with many brands exploring satellite store models to adapt to changing consumer preferences [9] Group 4: Future Outlook - Meituan is committed to fostering a healthy industry ecosystem by ensuring food safety and supporting quality-focused merchants [10] - The company plans to extend its support to more dine-in merchants and enhance its "Prosperity Plan" with various initiatives aimed at sustaining business growth [10]

Core Viewpoint - The article highlights Meituan's commitment to food safety through innovative practices and collaborative efforts, showcasing its initiatives to enhance transparency and trust in the food delivery industry [1][3][6]. Group 1: Meituan's Food Safety Initiatives - Meituan has launched the "Mingchu Liangzao" initiative, connecting nearly 300,000 merchants to promote transparency in food safety, with over 150,000 merchants actively broadcasting their kitchens [3][5]. - The company has initiated a subsidy program of 50 million for merchants to cover hardware and installation costs, significantly reducing their operational expenses [3][5]. - Meituan's "Million Bright Kitchen" plan encourages small merchants to showcase their kitchen environments, providing special support and subsidies for those who engage in live broadcasting [3][6]. Group 2: Technological and Collaborative Efforts - Meituan has developed a "Food Safety Co-Governance Big Data System" to monitor food safety progress across various regions, allowing real-time access to merchant kitchen broadcasts and safety rankings [6][7]. - The company collaborates with regulatory bodies to enhance verification capabilities and has conducted offline inspections of over 500,000 merchants to ensure compliance with safety standards [6][7]. - Meituan aims to integrate its food safety scoring system into the merchant evaluation framework, enhancing consumer awareness of food safety risks [6][7]. Group 3: Future Plans and Industry Impact - By the end of 2024, Meituan plans to establish 1,200 "Raccoon Kitchens" to support thousands of restaurants in upgrading their food quality and safety practices [5][6]. - The company emphasizes the importance of multi-party collaboration in food safety management, continuously exploring technological innovations and data applications to ensure consumer trust [7][8].