“史上最长618”收官：电商竞争转理性 “国补”“闪购”成亮点

Core Insights - The 2025 "618" shopping festival, considered the "longest ever," saw a total e-commerce sales of 8,556 billion yuan, a year-on-year increase of 15.2% [1] - Instant retail emerged as a focal point during the festival, with sales reaching 296 billion yuan, marking an 18.7% year-on-year growth [1] - E-commerce platforms shifted from price competition to rational competition, simplifying promotional rules and focusing on enhancing consumer shopping experiences [1][3] E-commerce Performance - JD reported over 100% growth in the number of users placing orders, with total orders exceeding 2.2 billion during the festival [2] - Tmall saw a 24% year-on-year increase in the number of brands achieving over 100 million yuan in sales, with international orders rising by 42% [2] - Douyin e-commerce reported that over 60,000 brands doubled their sales, with 236 brands achieving over 100 million yuan in sales through live streaming [3] Government Subsidies - The "National Subsidy" program was integrated with the "618" promotions, expanding its coverage to include 3C products, significantly boosting domestic demand [4] - Su Ning reported a 105% increase in store traffic and a 63% rise in trade-in orders during the festival [4] - The subsidy program has broadened its scope, now including high-end consumer products, which has effectively stimulated consumer demand [5] Instant Retail Growth - Instant retail saw explosive growth, with Meituan reporting over 1 billion orders and significant increases in sales across various high-ticket items [6][7] - The integration of instant retail with traditional retail has led to substantial growth in physical retail, supported by expanded infrastructure in first- and second-tier cities [7] - The market for instant retail is projected to exceed 2 trillion yuan by 2030, indicating a robust growth trajectory [7] Industry Development Recommendations - Experts suggest that the development of instant retail requires significant investment in new infrastructure, including smart logistics and delivery systems [8] - Collaboration between government and enterprises is essential for the development of public infrastructure to support the growth of instant retail [8]