生鮮電商進入下半場，每日優鮮們打算怎麼走？
昨日，央行公佈的最新金融數據顯示，國內6月社會融資規模增量達到5.17萬億元，新增人民幣貸款2.81萬億元，遠超市場預期。國內寬鬆財政貨幣政策的效果正在反應，將為下半年經濟的加快復甦奠定基礎。
經濟持續向好的預期下，中國資產的吸引力持續提升，部分超跌板塊的反彈機會得到關注，生鮮電商就是其中的典型代表。6月以來，兩家主要生鮮電商上市公司每日優鮮(MF.O)、叮咚買菜(DDL.US)均呈現出較為明顯的反彈趨勢，其中前者股價較此前最低值上漲137%，後者亦錄得約135%漲幅。
支持者的依據眾多，第一條就是國內生鮮市場空間足夠大。推崇“民以食為天”的中國人樂意為生鮮食品花錢，艾瑞諮詢的數據顯示，2020年中國生鮮市場規模已經達到5萬億元，預計2025年這一數據還將攀升至6.82萬億元，但眼下生鮮食品的流通渠道仍以線下菜市場為主，與中國發達的互聯網和電商文化格格不入，線上化的變革是必然趨勢。
二是疫情和“懶人經濟”加速生鮮的線上滲透。疫情期間，想必不少人都有從美團、每日優鮮上“搶菜”的經歷，各地防疫形勢實時變化，生鮮電商平台能夠充分發揮自身的網絡渠道優勢，從直採基地調配貨源，保障生活必要物資供應。在此過程中，各生鮮電商app打開頻次和訂單規模都顯著增長，虧損也隨之大幅收窄，新的消費習慣同步加快養成。
三是行業進入壁壘高。尤其是前置倉模式，不僅要建設兼顧時效性，產品容量、質量(滿足全程冷鏈)的前置倉，還要進行持續的智能信息系統建設，較大的投入規模和較高的科技含量都意味着更高的進入壁壘。
儘管“前途”光明，但擺在生鮮電商平台面前的盈利壓力也很現實。以往互聯網公司只管搶佔市場，規模領先之後，再慢慢摘果子的路子不再適用，投資人如今更傾向於“盈利才是硬道理”，這也是所有互聯網公司面臨的普遍情況。
對生鮮電商平台來説，收縮戰線幾乎是必然選擇。無論是每日優鮮、叮咚買菜，還是美團優選、京喜拼拼、興盛優選都不約而同地選擇了關閉虧損較多的城市和站點，轉而將資源更多地投放到核心市場，畢竟空有規模的“面子”恐怕難以捱過黎明前的黑暗，從這個角度看，生鮮電商平台擺正心態，力求務實的行業風向對提升盈利能力以及扭虧為盈更有裨益。
當然，不少平台也在積極挖掘新的增長機會。比如每日優鮮依託主業務開闢出的智慧菜場、零售雲兩大新業務，就展現出可期的成長潛力。
生鮮電商還處於繼續做大蛋糕的階段，進入下半場，仍舊站在跑道上的玩家，其內在價值本身就已得到深化，近日每日優鮮、叮咚買菜的反彈或許也有這層意思。
既然一切言之尚早，那不妨讓子彈先飛一會。
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