这一局阿里是分高下，美团或是决生死！

Ofweek维科网01-12

2025年，中国本地生活服务的战火从未如此猛烈。当京东高调入局、抖音跨界渗透时，真正的焦点却迅速凝固在两名宿敌身上——阿里巴巴与美团。随着阿里将“饿了么”App更名为“淘宝闪购”，并明确将“市场份额增长”作为2026年的首要目标，一场围绕即时零售的终局之战已然打响。这不仅是一场市场份额的争夺，更是一场关乎两者未来核心战略的生死对决。对于阿里巴巴而言，这是一场以攻为守、必须拿下的“必赢之役”，旨在为...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260112151538a4b98046&s=b><strong>Ofweek维科网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2025年，中国本地生活服务的战火从未如此猛烈。当京东高调入局、抖音跨界渗透时，真正的焦点却迅速凝固在两名宿敌身上——阿里巴巴与美团。随着阿里将“饿了么”App更名为“淘宝闪购”，并明确将“市场份额增长”作为2026年的首要目标，一场围绕即时零售的终局之战已然打响。这不仅是一场市场份额的争夺，更是一场关乎两者未来核心战略的生死对决。对于阿里巴巴而言，这是一场以攻为守、必须拿下的“必赢之役”，旨在为...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260112151538a4b98046&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1102505929.USD","symbol_name":"FIDELITY SUSTAINABLE EMERGING MARKETS EQUITY  \"A\" (USD) 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death!","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MPNGY":1.96,"METmain":0.6,"BABA":1.97,"HMTD.SI":0.6,"03690":1.96,"09988":1.97},"content_text":"2025年，中国本地生活服务的战火从未如此猛烈。当京东高调入局、抖音跨界渗透时，真正的焦点却迅速凝固在两名宿敌身上——阿里巴巴与美团。随着阿里将“饿了么”App更名为“淘宝闪购”，并明确将“市场份额增长”作为2026年的首要目标，一场围绕即时零售的终局之战已然打响。这不仅是一场市场份额的争夺，更是一场关乎两者未来核心战略的生死对决。对于阿里巴巴而言，这是一场以攻为守、必须拿下的“必赢之役”，旨在为其庞大的电商帝国注入新的活力。而对于美团，这更是一场“既分高下，也决生死”的防御战，其核心腹地正面临前所未有的系统性冲击。面对阿里的雷霆万钧，美团看似“打太极”的战略收缩与聚焦，实则暗藏着深刻的无奈与艰难的抉择。一场以攻为守的“核心保卫战”阿里巴巴在2025年对本地生活发起的全面进攻，其决心之坚决、投入之巨大，远超以往。这并非简单的业务扩张，而是一场深思熟虑的战略豪赌，其根本目标是保卫并重振其核心电商业务。近年来，阿里巴巴的核心电商业务持续面临来自拼多多的低价冲击和抖音的内容电商蚕食，增长瓶颈日益凸显。高频、高粘性的即时零售服务，成为了阿里眼中盘活全局的关键棋子。其战略逻辑清晰而深刻：利用即时配送这一用户日常最高频的数字消费行为，为增长乏力的主站App重新注入活力。这场看似进攻美团腹地的战争，其深层意图实则是防御性的。阿里的真正目的并非成为一家外卖公司，而是将外卖作为一种战略工具，来保卫其核心电商护城河。通过将即时零售深度整合进淘宝，阿里能够显著增加用户打开其主App的频率，从而创造更多交叉销售传统电商商品的机会。财报数据也验证了这一逻辑：在整合即时零售服务后，2025年8月的前三周，淘宝App的月度活跃消费者实现了25%的同比增长，直接证明了高频服务对主站App的拉动效应是有效的。为打赢这场战役，阿里调动了整个集团的资源，构建了一套“生态协同+AI赋能”的立体化打法。首先是组织架构与品牌层面的“力出一孔”，2025年阿里进行了关键的战略重组，将饿了么、飞猪等业务并入中国电商事业群，打破了以往的“业务自治”传统，形成“军团作战”模式。紧接着，2025年12月，“饿了么”App正式更名为“淘宝闪购”，完成了品牌心智的统一，将流量和资源高度集中于“淘宝闪购”这一核心品牌，结束了内部分流，形成了对抗美团的合力。其次是无可比拟的生态协同能力，淘宝闪购并非一个孤立的外卖平台，而是阿里大消费生态的“近场触点”。它将淘宝/天猫、盒马、天猫超市、饿了么、高德地图、菜鸟以及支付宝等核心商业基础设施强力耦合，形成了“全品类供应链+30分钟速达”的独特用户体验壁垒。另一方面，高德地图被定位为“超级入口”，于2025年9月推出“S级战略项目”——高德扫街榜。该榜单不依赖主观评价，而是基于高德10亿级用户的真实线下行为数据生成，直击大众点评刷单、评价失真的痛点，对美团的核心利润来源“到店业务”构成直接威胁。阿里的饱和式投入很快见到成效，据市场消息，淘宝闪购在2025年第三季度收入同比增长60%，日订单峰值一度达到6000万单。更重要的是订单结构的优化，非茶饮订单占比已超过75%，笔单价环比8月上涨超过两位数，显示平台正逐步摆脱对低价补贴的依赖，吸引并留存了高价值用户群体。面对如此战果，阿里进一步坚定了投入的决心，在最新的投资者交流中，阿里明确了淘宝闪购2026年的核心目标——市场份额增长，终极目标是拿下即时零售市场绝对第一，甚至表示将“不计成本”争取市场份额。这预示着，2026年的即时零售战场，战火只会愈演愈烈。一场退无可退的“生死保卫战”面对阿里携整个生态之力发起的猛攻，作为行业领袖的美团陷入了前所未有的被动。其应对策略看似是“打太极”般的战略收缩，实则是在多线作战、资源吃紧下的艰难抉择。这不仅是一场份额保卫战，更是一场关乎其商业模式根基的“生死存亡”之战。2025年，美团做出了近年来最重大的战略调整——全面收缩非核心业务，将资源聚焦于即时零售主战场。最标志性的事件是，2025年12月，美团彻底关停了曾被寄予厚望的社区团购业务“美团优选”，并同步暂停了B2C电商业务“团好货”。美团优选曾被王兴视为“五年甚至十年一遇”的机会，但其“低价引流+三级仓配”模式履约成本占比超25%，毛利率却不足15%，长期巨额亏损难以为继。关停优选，是美团在“烧钱”大战中“断臂求生”的无奈之举，意在为核心的即时零售业务腾出宝贵的“子弹”。与此同时，美团的补贴策略也从“大水漫灌”转向“精准滴灌”，运营重心开始向美团会员等存量高价值用户倾斜，试图用更精细化的运营替代粗放的无差别补贴。这些动作都表明，在阿里雄厚的资本压力下，美团必须“节衣缩食”，将每一分钱都花在刀刃上。美团的困境在于，它的对手远不止阿里一家。在“到店”业务上，抖音凭借内容种草优势持续渗透，其商超团购券在跨年期间增长164%；在下沉市场，拼多多通过“多多买菜”形成侧面压力；而在主战场，阿里的生态军团正步步紧逼。这种多线作战的压力，使得美团“到家+到店”的二元结构显得协同效应不足，容易“腹背受敌”。更深层次的挑战在于，竞争逻辑已经升维。当阿里将竞争拉向其擅长的“AI+生态”领域时，美团的AI布局则更多聚焦在骑手派单、客服等履约环节，在更广泛的商家端赋能和跨业务技术协同上显得相对初级。有餐饮协会报告指出，2025年Q2美团商家流失率同比上涨18%，部分原因正是对手的技术赋能为商家带来了更低的经营成本。这正是典型的“在位者困境”——行业巨头在面对新技术或新平台冲击时，因需要保护现有业务和利润而错失转型机遇。如果美团不能在AI赋能和生态协同上拿出清晰的突破路径，其市场份额和盈利能力很可能持续萎缩，面临从行业主导者沦为被动追随者的风险。收缩美团优选后，美团将资源向小象超市等盈利模式更清晰的即时零售业态倾斜。尽管处境艰难，美团的核心壁垒依然坚固。其最大的护城河在于历经十余年建立的无与伦比的即时配送履约网络。美团拥有近800万外卖骑手，其智能调度系统能将3公里内餐饮订单平均时效压缩至23分钟，合单顺路率超95%。这种极致的履约效率是阿里短期内难以超越的硬实力，也是商家选择平台时最看重的因素（50.5%的商家首选配送服务能力）。在防守的同时，美团也在积极反击，其策略核心是“效率革命+全品类深耕+盈利修复”。一方面，美团计划投入200亿元升级AI调度系统，并扩大无人机、无人车配送的商业化应用，以技术降本对冲补贴压力。截至2025年9月，美团无人机已累计完成67万笔商业订单。另一方面，美团闪购正全力推进“万物到家”战略，提升非餐饮订单占比，重点拓展生鲜、数码、医药等高毛利品类。通过推出“品牌官旗闪电仓”等新模式，为品牌提供仓储、配送、系统一体化服务，打造新的增长曲线。同时，将原优选业务的供应链资源整合进小象超市，主攻中高端家庭市场，对标盒马、山姆，形成差异化竞争。然而，这一切都伴随着巨大的财务代价，2025年第三季度，美团经调整净亏损高达160亿元，核心本地商业板块更是由盈转亏，亏损141亿元。这笔巨额亏损，正是美团为守住市场份额付出的“流血代价”。王兴曾言：“大多数人以为战争是由拼搏组成的，其实不是，是由等待和煎熬组成的。”如今，这句话对美团而言，更像是缺乏破局策略的被动消耗与无奈。从“价格内卷”到“价值创造”的终极赛点经历了2025年的惨烈肉搏，即时零售行业的竞争已彻底告别低层次的价格战，转向“技术赋能+生态协同+服务升级”的深层比拼。补贴催生的流量泡沫将逐渐消退，服务质量、配送时效、商品丰富度将成为用户选择的核心标准。对于阿里而言，其2026年的战略将是“生态协同深化+AI全面赋能”。淘宝闪购将进一步强化与淘宝、天猫、菜鸟、高德等业务的协同，实现“远场电商+近场零售+本地生活”的无缝衔接，并通过AI工具深度赋能商家，强化商户粘性，弥补其在履约网络上的相对短板。对于美团，2026年的核心目标将是“效率革命+盈利修复”。它将继续巩固履约效率这一核心优势，通过技术手段极致降本，同时深耕全品类供给，提升高毛利品类占比。随着补贴退坡和运营效率提升，其核心业务有望在年中实现盈亏平衡。调研显示，配送服务能力是商家选择平台时最重要的考量因素，这正是美团的核心优势所在。这场战争的结局，不仅将重塑中国万亿级的即时零售市场格局，更将深刻影响两家巨头的未来走向。阿里能否借此一役重振电商雄风，美团又能否在围攻之下守住自己的商业根基？2026年，答案或将揭晓。这场战争没有真正的旁观者，它让所有参与者明白：靠资本补贴可以制造短暂的喧嚣，但唯有为消费者、商家和劳动者持续创造真实价值，才能穿越周期，赢得最终的赛场。作者：尼古编辑：尼克免责声明:本文基于已公开的资料信息或受访人提供的信息撰写，但科技四少及文章作者不保证该文章提及或者展示关联等信息资料的完整性、准确性，不代表任何机构立场，如涉侵权请联系删除。在任何情况下，本文中的信息或所表述的意见均不构成对任何人的投资建议。参考资料：外卖大战近一年，重新理解美团本地生活竞争升维：最终掉队的会是谁？【零售】即时零售迈入3.0时代，万亿市场开启全场景生态竞争本地生活赛道，进入“组团作战”时代即时零售大会战：谁失血 谁生长？阿里即将官宣两大重磅业务，本地生活赛道直面美团系竞争阿里继续外卖大战，誓要超过美团：两冤家股价应声下跌阿里将淘宝闪购定为核心战略阿里的蜜糖，美团的砒霜你的外卖变贵了吗？美团、京东、阿里混战半年","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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