财经观察丨双十一前，抛开公域流量的猎场，看看私域流量的农场

Core Insights - The e-commerce industry is preparing for the 2025 Double Eleven shopping festival, with various strategies being discussed on platforms like Bilibili [1] - The private domain e-commerce market in China is projected to grow at a compound annual growth rate (CAGR) of 48% from 2020 to 2024, with a steady growth rate of 20.4% expected from 2025 to 2027 [2] - By 2027, the user base for private domain e-commerce in China is expected to approach 1 billion, with a penetration rate of approximately 67% and a market transaction scale likely to exceed 3 trillion yuan [2] Industry Trends - The shift from public traffic to private traffic is becoming essential for survival in the e-commerce sector, marking a fundamental change in industry competitiveness from traffic and price competition to data-driven and automated operations [3] - The metaphor of "hunting ground" for public traffic and "farm" for private traffic illustrates the industry's transition towards deeper user relationship management and long-term value [3] - The rising costs of public traffic, with average annual advertising price increases exceeding 20% on major social platforms, are driving the development of private domain operations [4]