Since April of this year, the food delivery industry has been engulfed in an intense subsidy war, with major platforms like JD.com, Meituan, and Ele.me doling out high-value coupons to lure customers. This aggressive marketing strategy has culminated in record-breaking order volumes. In just half a year, these platforms have invested a staggering amount of nearly 100 billion yuan, leading to an abundance of subsidy coupons. This battle not only showers benefits upon consumers but also puts the profit margins of merchants and the operational prowess of the platforms to the test.