瑞银：预计补贴大战至少打到双11

格隆汇2025-07-12

格隆汇7月12日｜据一财，瑞银预期，当前竞争形势至少会持续至今年双11。网经社电子商务研究中心数字生活分析师陈礼腾表示，对于商家而言，补贴大战的影响呈现阶段性差异。短期来看，订单暴增带来运营压力：中小商家可能面临“爆单”现象，但需承担部分补贴成本，叠加原材料消耗激增和人力不足，可能导致出餐延迟、品质下降。长期而言，行业将加速整合。市场集中度向供应链效率高、品牌力强的头部企业倾斜。同时，监管介入倒逼...

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