Shen Zhen Shang Bao·2025-06-16 22:46Core Insights - The 2025 "618" shopping festival began on May 13, marking the longest "618" event in history, with a notable trend of top streamers becoming less prominent during this period [1] - Major platforms like Pinduoduo, Alibaba, and JD.com saw their stock prices decline by 13.58%, 13.54%, and 9.13% respectively since May 13, resulting in a combined market value loss of approximately $78.1 billion [1] - The share of GMV (Gross Merchandise Volume) from top streamers dropped significantly from 45% in 2020 to 18% this year, while new channels such as brand self-broadcasting, AI digital influencers, and social e-commerce experienced a 230% year-on-year growth [1] Industry Trends - The rise of instant retail is a noteworthy trend during this year's "618" event, with platforms like Meituan and JD's delivery services performing exceptionally well, particularly Meituan's "30-minute delivery" model attracting many young consumers [1] - Young consumers are increasingly demanding instant retail services while showing a decreasing sensitivity to prices, indicating that platforms must enhance their services, logistics, and user experience [2] - The collective "disappearance" of top streamers and the pressure on platform stock prices reflect the challenges of decentralized traffic and intensified industry competition, suggesting a need for platforms to evolve towards a "content + social + e-commerce" ecosystem driven by AI technology [2]