Empty Tables, Low Margins Show Cost of China’s Food Delivery War

As Chinese consumers snag 14-cent coffees and 50-cent meals thanks to a fierce price war among food delivery platforms, restaurants and tea chains are counting the cost of vanishing footfalls.

The latest financial results of major listed restaurants, teahouses and cafes analyzed by Bloomberg News show that aggressive online promotion campaigns took a toll on their businesses in the first half of the year, especially in the three months to June when the price war kicked off.