"Rent a loan", "Eating", "Social entertainment", "Shopping", "Charging", "Pet raising"... These keywords constitute the consumption map of contemporary young people.
Among them, eating is a "second-class event", second only to housing loans.
According to data from the State Information Center, in 2021, the per capita expenditure on online takeaways will account for 21.4% of catering consumption expenditures.
When it comes to eating, young people who no longer revolve around pots and pans love takeaways. "Twenty or thirty yuan can get you a meal, which saves trouble." "Takeaway is already just what many 'lazy people' need.
According to data, it is expected that the transaction scale of China's Internet catering takeaway market will reach 934 billion yuan in 2021.
Behind the nearly trillion-dollar takeaway market, it has been controversial because of the opaque charges.
On February 18, 14 departments including the National Development and Reform Commission jointly issued a document, pointing out that the delivery rate will be lowered and the operating costs of related catering companies will be reduced.
A number of merchants and takeaway platform staff recently told the Beijing News Shell Finance reporter that they had never heard of this policy, and the platform's fees for merchants have not been adjusted.
Despite this, the capital market responded immediately, and as soon as the news of the ministries came out, the stock price of Meituan plummeted.
In fact, takeaway commissions have been in conflict for a long time.
At present, the joint efforts of 14 departments can solve the chronic disease?
How will lower food delivery rates affect the food delivery industry?
Under the pressure of high rider costs, is the "unmanned delivery" pushed by some platforms feasible?
On February 23, the Economic Daily issued an article saying, "Reducing service fees may affect the valuation logic of the platform economy, but it does not mean that the prospects of platform companies are worrisome. At present, it is not just the cost of commissions, rent, labor and other issues that trap the service industry. , and the lack of willingness to spend, which may be more critical.”
Hong Tao, deputy director of the Academic Committee of the National Association of Consumer Economics and chief expert of the Modern Economic Management Research Institute of Zhejiang Yuexiu University of Foreign Languages, said that the policies of tax reduction, fee reduction and tax deferral have been further implemented, coupled with the government's strengthening of digital governance to accurately manage the market, as well as catering Merchants and platforms speeding up digital transformation will surely produce better results.
【rate】
The service rate of the takeaway platform is about 20%, and the chain brand is lower than the small store
Analysis: Reducing service fees will affect the valuation logic of the platform economy
"The (reduction of takeaway rates) policy has just been introduced and has not yet been implemented. There is currently no notification for the implementation of corresponding measures. After the policy is gradually implemented, the platform will follow up accordingly." Recently, Ele.me Beijing business manager Xu Jiao (pseudonym) Tell the Beijing News Shell Finance reporter.
In addition, the staff of takeaway platforms in Zibo, Taiyuan and other places also said that they have not received relevant notices.
On the day the news was released, Meituan’s share price plunged, and by the end of the day, it had plummeted by more than 14%, and the closing price fell below HK$200; then the share price fell for two consecutive days.
Pan Helin, member of the Information and Communication Economics Expert Committee of the Ministry of Industry and Information Technology and executive director of the Digital Economy Research Institute of Zhongnan University of Economics and Law, said that the "reduction of service fees" will indeed affect the valuation logic of the platform economy, but the specific impact on the valuation depends on the final decision. service fee reduction.
However, the prospects of food delivery platforms are still very promising, mainly benefiting from changes in consumer consumption habits, food delivery platforms have become a rigid need in urban life.
"Guiding Internet platform companies such as takeaways to further reduce the service fee standards for catering merchants" is also a manifestation of the impact of the epidemic on the economy.
Hong Tao believes that since the end of 2019, under the influence of the new crown epidemic, my country's service industry has been negatively affected, and many service companies are still facing many difficulties. This policy adjustment requirement will help to further reduce the burden on the service industry and promote the service industry. better development.
At present, what is the service fee level of the catering industry merchants on the takeaway platform?
Wang Jie (pseudonym), a Korean restaurant owner in Taiyuan, Shanxi, told Shell Finance reporter that his brand was launched on Meituan and Ele.me at the same time.
The merchant said that the platform's billing standards are complex and difficult to calculate. "I basically understand the service rate of Meituan at 23% and the service rate of Ele.me at 20%."
Why is the billing standard of the platform complicated?
Taking Meituan as an example, starting from May 2021, its commission charges have changed from one-size-fits-all to tiered charges, changing the original extensive charging method.
The fees it charges are further divided into technical service fees (commissions) and performance service fees (delivery fees).
The technical service fee is composed of the merchant information display service, transaction service, business service and customer service, IT operation and maintenance and other service fees. It is the actual commission that merchants need to pay when using the food delivery platform.
The performance service fee, which includes rider wages, subsidy fees, personnel training, order experience processing and technical support, is only incurred when merchants choose to use Meituan for delivery.
The above-mentioned performance service fee adopts a floating rate, and the rate changes dynamically due to the influence of delivery distance, delivery time period and order price.
The background data of a merchant shows that the charging rules of Meituan mixed delivery are technical service fee (6.8%) × technical service fee discount coefficient (85%) + performance service fee (distance charge + price charge + time period charge) × performance service fee discount coefficient (85%).
Among them, distance charges, price charges and time-of-day charges will fluctuate according to specific circumstances.
Let’s take a look at the fees for Ele.me’s hummingbird special delivery. The fees for the standard version are divided into two parts. The commission rate for technical service fees is 20%, and the technical service fees for contract performance are basic logistics fees + distance fees + price fees + time markup, time period The fee for the increase is 1 yuan per unit from 0:00-02:59; 1.5 yuan per unit from 03:00-05:59; 0.5 yuan per unit from 21:00-23:59.
"Platforms have different commissions in different regions and categories." The business manager of Meituan Shanxi told the Beijing News Shell Finance reporter.
The first is that the rates vary from region to region.
Multiple interviews by reporters have also confirmed that, for example, the Ele.me service rate in Huantai area of Zibo is 23%, that of Dongcheng District of Beijing is 19%, and that of Yingze District of Taiyuan is 20%. The specific ratio is determined according to the communication between the regional manager and different merchants.
Secondly, the commissions of different categories are different.
The business manager of Meituan Food Delivery in a certain area in Shanxi told reporters, "Fruit merchants have relatively thin super profits, and their own points are low. The national chain belongs to the national enterprise cooperation, and the overall point will be lowered."
A merchant operating a fruit supermarket in Dongcheng District, Beijing told reporters that the commission rate for delivery services that do not use the platform is 6%.
Finally, even within the same area, different merchants will have different service rates.
Chen Bing (pseudonym), the person in charge of a beverage shop in Fujian, introduced to Shell Finance reporter that the service rates of Meituan and Ele.me platforms for regional chain brands such as Chabaidao and Guming are around 18%, while only one or two The store's personal brand service rate is around 23%.
Does the platform have preferential rate rules, and how can merchants get discounts?
Ele.me, the business manager of Dongcheng District, Beijing told the Beijing News Shell Finance reporter that the standard service rate of Beijing's Ele.me merchants is about 19%, which already includes various expenses such as delivery and merchant service fees. The platform can provide certain support and apply for a more favorable rate for merchants to increase the volume and reputation.
Food industry analyst Zhu Danpeng believes that the current high commission fees for food delivery platforms have put catering companies in the dilemma of increasing revenue without increasing profits.
Coupled with the platform's "choose one" and other terms, the operating space of catering enterprises is further restricted.
The policies issued by the relevant state ministries and commissions are favorable policies for catering enterprises, and the service fee level will also be lowered in the future.
【Game】
Takeaway commissions have been conflicting for a long time
The Catering Association once had a public "dialogue" with the takeaway platform
With the support of mobile Internet and various capitals, my country's food delivery market has gone through the era of siege and subsidy war and entered a period of rapid development.
The market structure has also developed from the “three-legged confrontation” of Meituan Takeaway, Baidu Takeaway, and Ele.me to the “two-male competition” pattern of Meituan Takeaway and Ele.me. The platform has entered the stage of refined operation, and the contradictions of platform service fees have gradually accumulated.
The epidemic has become the fuse for the outbreak of conflicts.
In April 2020, the Guangdong Catering Service Industry Association had an open dialogue with Meituan Waimai, calling on Meituan Waimai to cancel the exclusive cooperation mechanism and reduce or exempt takeaway service commissions.
In the end, Meituan made compromises, including increasing the rebate ratio to 3%-6% for high-quality food and beverage takeaway merchants in Guangdong, expanding the coverage, and extending the rebate period by at least 2 months.
Not only Guangdong Province, since the outbreak of the epidemic, many food and beverage associations have publicly voiced their demands for food delivery platforms such as Meituan and Ele.me to reduce commissions, including Sichuan, Chongqing, Yunnan and other provinces and cities.
Hong Tao believes that the takeaway platform and the catering merchants on the platform are a pair of interconnected communities. In the context of the normalization of the new crown epidemic of "foreign import and internal anti-rebound", the takeaway platform will reduce the corresponding charges, which will further reduce the burden on catering companies. , because most catering companies belong to the small, medium and micro market entities. Even if the original charging standards remain unchanged, when the business has not been carried out or expanded, the burden on the small, medium and micro catering market entities is still relatively large.
"Fee reduction" has become one of the important trends in platform compliance.
Since 2021, after the relevant state departments have repeatedly mentioned "guide platform enterprises to reasonably reduce merchant service fees", this content has even appeared in the government work report.
Subsequently, Meituan and Ele.me began to actively optimize the platform charging model, and implemented a pilot "rate transparency" to reduce the burden on small and medium-sized merchants.
In 2021, Meituan Senior Vice President and President of Daojia Business Group Wang Puzhong once said that Meituan’s determination to make rate transparent reforms came from the 208 merchants’ discussions in the previous period, in order to help small and medium-sized merchants do a good job in digital operation and gain more income , "The general trend of the entire industry must be more orderly, more transparent, and more equal. We fully respect the right of merchants to choose their own business operations, strictly follow the principles of voluntariness and fairness, and resolutely prohibit 'choose one from two'."
At that time, the Beijing News Shell Finance reporter exclusively learned that Ele.me also launched a pilot rate transparency pilot in Dongguan, Tianjin and other places in May last year, but in the pilot, it was found that the new charging model has little positive impact on small and medium-sized businesses. (mainly refers to income).
At the same time, Ele.me launched the "Independence Breaking Action" internally to implement rate reduction measures in the hinterland of Sichuan, Chongqing, Guangzhou and Shenzhen, and invested a total of 1 billion in subsidy rates to try to turn around.
【balance】
Do takeaway platforms make money?
Platform profits improve, rider costs remain high
Behind the 14 departments’ efforts to rectify takeaway commissions is the sharp drop in the gross profit of catering companies, with meager profits and even loss-making operations.
So, does the money go to the takeaway platform?
During the "Hundred Regiments War", the constant subsidies from the platform side are bound to make no money.
After the major share of the industry was occupied by Meituan and Ele.me, the food delivery platform gradually realized commercial operation.
In 2019, Meituan successfully landed on the Hong Kong stock market, and its performance began to turn losses into profits.
At the same time, Meituan’s food delivery business has grown steadily. In 2019, Meituan’s food delivery business revenue was 54.8 billion yuan, a year-on-year increase of 43.8%.
The gross profit of the food delivery business was 10.2 billion yuan, a year-on-year increase of 94.2%; the gross profit margin increased from 13.8% to 18.7% year-on-year.
Affected by the epidemic, Meituan's catering takeaway revenue in 2020 was 66.3 billion yuan, a year-on-year increase of 20.8%.
The operating profit of the food delivery business increased from RMB 1.416 billion in 2019 to RMB 2.833 billion in 2020, while the operating profit margin increased from 2.6% to 4.3%.
In the post-epidemic era, the food delivery business has grown rapidly.
In the first half of 2021, Meituan’s food delivery revenue was 43.7 billion yuan, a year-on-year increase of 81.8%; operating profit was 3.563 billion yuan, a year-on-year increase of 201.3%; operating profit margin improved from 8.6% to 10.6%.
Correspondingly, Meituan's entire business costs and expenses have also increased significantly.
Since Ele.me belongs to Alibaba Group's local life service, the relevant performance is not detailed.
However, Alibaba's 2020 fiscal year financial report shows that the revenue of local life services was 25.440 billion yuan, a year-on-year increase of 41%, mainly due to the increase in the number of orders delivered and the average value of each order.
Alibaba's fiscal 2021 full-year financial report shows that local life service revenue is 31.537 billion yuan, a year-on-year increase of 24%.
Among them, Ele.me continues to improve the supply and operation efficiency of merchants, the number of merchants is increasing, the proportion of national and regional chain stores in its GMV has increased, and the profit per order has improved year-on-year.
However, there is also a performance cost for the food delivery business, which is the cost of delivery riders.
Platforms generally believe that food delivery is a low-profit business, mainly relying on commissions to support operation, and the main cost is the rider's salary.
Meituan’s financial report shows that in 2020, rider costs accounted for 83.1% of commission income.
Meituan’s profit per order is 0.28 yuan.
Among them, for the orders delivered by Meituan, the average delivery cost of each order is 7.38 yuan, and each loss is 0.03 yuan.
Ele.me’s internal related businesses have also been in a state of loss.
At the same time, the protection of riders’ labor rights and interests is also the responsibility of the food delivery platform.
Hong Tao said that because catering is a highly market-oriented field, the operating profit margin of catering companies is relatively low. At present, the "operating profit margin of catering takeaway is 3.3%", and some companies may be lower.
Therefore, it is advisable to reduce the proportion of its charges, and it is not possible to "one size fits all". We should proceed from the actual situation, and specifically look at Chinese food, Western food, fast food, farmhouses, etc. separately, and advocate but not implement one size fits all. Only in this way is it in line with China's national conditions.
Li Zhiqi, deputy director of the Economic Committee of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference, vice chairman of the Beijing Federation of Industry and Commerce, and chairman of the revitalization international think tank, believes that "the takeaway platform will feel wronged because it believes that the functions provided by the platform are not only the basic functions of matching transactions, but also include Tasks such as door-to-door inspections of merchants, supervision of contract performance, and food safety inspections are all invisibly increasing the cost of the platform, and these demands are also reasonable."
【Collaboration】
"Transparency is not the root of the problem, low rates can only"
Catering merchants and takeaway platforms must work together
"Even if there are relevant measures, you can change the soup instead of the medicine by modifying the commission scheme." As for whether the reduction in the commission rate can bring substantial discounts to the merchants, the above-mentioned restaurant owner Wang Jie said that he does not hold too much expect.
Regarding this point of view, a takeaway practitioner told the Beijing News Shell Finance reporter that whether merchants make money or not depends on costs, including rent, product quality, price and length of business hours, etc. It is not only determined by commission points .
Meituan and Ele.me have been promoting transparent rates, from a single rate to a transparent multi-level rate, but Ele.me Vice President Wang Jingfeng once told the Beijing News Shell Finance reporter that transparency is not a solution to the problem The fundamental, low rates can really relieve the operating pressure of small and medium-sized businesses.
Meituan Daojia business related employees told the Beijing News Shell Finance reporter that at present, most of the transportation capacity is mainly dedicated delivery.
He also revealed that some projects within Meituan this year have two clear guidelines, namely "government compliance" and "cost reduction and efficiency improvement".
Meituan's technical department is also constantly trying to reduce costs through "unmanned delivery" relays and other means.
Previously, Ele.me had implemented a counter-offensive by reducing rates in the hinterland of Sichuan, Chongqing, Guangzhou and Shenzhen, but the rate of decline was limited and the duration was limited. At present, the service rates of the top platforms are relatively flat on the whole.
The person in charge of Ele.me’s business also revealed that in the rate adjustment plan, Ele.me will focus on the control of operating costs, mainly starting from logistics costs.
Hong Tao believes that catering merchants and takeaway platforms are a contradictory unity, which must be linked, interdependent and mutually reinforcing.
To "protect the interests of market players in the service field", while meeting market demands and satisfying the interests of consumers, the interests of catering merchants, takeaway platforms, and upstream and downstream supply chain players must also be considered.
"From the perspective of service rates that should be determined for different types of catering, different consumer groups, different industrial chains, different regions, and different catering scenarios, it is necessary to take a long-term view to create a good business environment and avoid forcing enterprises to go down. The development path of price competition." Hong Tao said.
"Generally speaking, the contradiction between catering companies and platform companies is common in the retail industry and the catering industry. There is always a game between the supply and demand sides, and the game must eventually return to the level of rationality and fairness. To resolve this industry problem, a On the one hand, it is necessary to encourage competition, so that emerging enterprises can continue to provide more choices and opportunities through new methods, new technologies and new means without the industry being monopolized. Negotiate, so that more small and micro enterprises can negotiate and dialogue with platform enterprises through grouping, and strive for reasonable interests." Li Zhiqi also believes that.
Beijing News Shell Finance reporter Chen Weicheng Cheng Zijiao intern Xiong Ke editor Chen Li proofreading Zhang Yanjun