BABA(US:BABA) Guan Cha Zhe Wang·2025-10-15 06:20Core Insights - Tmall's Double 11 shopping festival will officially start at 8 PM tonight, with physical goods available for sale starting at 8 PM on October 20 [1] Promotions and Discounts - This year, Taobao has abandoned the "full reduction and order matching" strategy, opting instead for a model that includes an "official 15% discount, plus an additional 10% discount coupon, industry category coupons, and shopping credits" [1] - Li Jiaqi's live streaming session will distribute a 10% discount coupon with no minimum purchase requirement for the first time during Tmall's Double 11 [1] - The total value of the 88VIP coupon package has reached a record high of 3.25 billion yuan, which includes a no-threshold 10% discount coupon, as well as various rights such as home appliance coupons, takeout red envelopes, and travel coupons from Fliggy [1] Government and Brand Subsidies - Consumers can benefit from a four-layer discount system that includes a 20% government subsidy for trade-ins, a 15% official discount from brands, a 10% national subsidy coupon, and a 5% brand red envelope subsidy [1] - Brand partners will also issue large discount coupons, with Huawei offering discounts up to 1,500 yuan [1]