"Takeout Triangle Battle": Meituan, Alibaba, and JD.com all decline, while tea brands like CHABAIDAO, GUMING, and MIXUE GROUP surge
On the evening of July 5th, Alibaba and Meituan staged a takeout war. The two major platforms released a large number of high-value takeout red envelope coupons
Meituan fell 3.3%, JD.com Group fell 1.5%, and Alibaba fell about 2.2%. CHABAIDAO and GUMING rose over 10%, while MIXUE GROUP rose over 5%.
On the evening of July 5th, Alibaba and Meituan staged a food delivery battle. The two major platforms released a large number of high-value food delivery red envelope vouchers. These included several no-threshold delivery vouchers such as "25 off 21", "25 off 20", and "16 off 16". With the issuance of the coupons, a continuous influx of users flooded into the Alibaba and Meituan platforms to place orders, causing Meituan to experience downtime at one point. Information released by Meituan's internal network showed that as of 22:54 on July 5th, the number of orders for Meituan's instant retail had exceeded 120 million for the day, with restaurant orders surpassing 100 million
