Here in China, consolidation continues but there remain quite a number of smaller players. It's a brutal space, very high capex, very low USP, thin margins, no return unless you scale. Basically the main players exist through VC and eyeball trading. You have to wonder what security they have against eg. Tencent/WeChat just sidestepping them. Especially as there is a lot of history of nasty backstabbing marketplace-takes-your-model in China, eg. we saw Qunar do this to hotel reservation networks (I used to run one). One area of resistance to commodified last mile delivery seems to be large chains, like KFC/McDonalds, who offer their own delivery drivers in a bid to retain control, customer ownership and margins. A major play right now for delivery operators seems to be ghost kitchen establishment and operator partnerships.
We anticipate entering the Chinese consumer food retail market within the next two quarters with closer-to-consumer, robot-produced, personalized cuisine cooked to order in an autonomous kiosk format (wholly owned and operated).