Алексей Гусев (Редактор отдела «Спорт»)
从绵延不绝的外卖大战，到戛然而止的价格战，瑞幸2025年财报，清晰展现了中国咖啡行业龙头在竞争压力之下的成长逻辑——一方面，3万余家门店、4.5亿用户的规模优势，构建了难以逾越的行业壁垒，供应链效率与数字化运营能力的提升，为长期发展奠定坚实基础；另一方面，外卖大战带来的成本压力，将推动瑞幸加速从“规模优先”向“规模与盈利并重”转型。
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