Hu Xiu·2025-06-20 07:35Core Insights - Tmall's overall performance during the 618 shopping festival exceeded expectations, with a 10% year-on-year growth in GMV after refunds, marking the highest growth in three years [1][12] - The focus on "GMV excluding refunds" reflects a shift towards measuring real transactions, aligning the goals of the platform and merchants [11][12] - The increase in purchasing users was attributed to simplified marketing strategies, particularly the introduction of the "instant discount" model [3][8] Performance Metrics - The 10% growth in GMV after refunds surpassed the expected figures, with a notable decrease in return rates, especially among 88VIP users [12] - The number of purchasing users achieved the highest growth in nearly three years, driven by effective marketing strategies and improved consumer experience [8][12] Strategic Changes - Tmall implemented a simplified marketing approach, including the "instant discount" strategy, which was a significant change aimed at enhancing consumer experience and driving demand [3][5] - The company shifted its evaluation metrics for merchants to a "real experience score" based on AI analysis, moving away from traditional metrics [7][9] AI Integration - AI plays a crucial role in Tmall's strategy, helping merchants with targeted advertising and improving return on investment (ROI) [2][9] - The use of AI extends to generating marketing materials and enhancing user experience through precise customer targeting [9][10] Merchant Support - Tmall has focused on supporting high-quality merchants, particularly those with innovative capabilities, which has led to a significant increase in the number of brands participating in the 618 event [6][8] - The strategy of supporting quality merchants began in December of the previous year and has shown positive results in the latest shopping festival [6][8]