Financial Analysis and Countermeasures for Platforms in the Intense Takeout Competition: A Comparative Study of Meituan and JD.com

Abstract

With the continuous development of electronic technology and the acceleration of people’s daily life pace, the food delivery business has been continuously improving. Numerous food delivery merchants and platforms have sprung up in the market like mushrooms. Over the past decade, among the numerous food delivery platforms, two of them, Meituan and Eleme, have formed a duopoly situation, occupying the majority of the market share. In early 2025, with JD.com announcing its entry into the food delivery field, an unprecedented food delivery competition began. Various huge subsidies and discounts have been launched one after another. Therefore, how to play to one’s strengths and avoid weaknesses to be in the lead of the competition is an issue that needs to be studied. This article will conduct an exploration of this issue based on the bilateral market theory and the financial risk theory, using data analysis and comparison as well as case analysis. Through the research process of this article, it can be found that the subsidies of the two platforms are not symmetrical, and the financial risk exposures they generate also vary. Moreover, due to its well-developed dispatching system, JD.com's logistics is more efficient. Therefore, the following conclusion is if enterprises want to gain an advantageous position in the competition, they must reasonably balance subsidies and financial risk exposure to maximize profits. At the same time, the integration and development of the logistics system and artificial intelligence should be emphasized to enhance the efficiency of the material distribution system.