BABA(US:BABA) 3 6 Ke·2025-10-22 23:09Core Insights - This year's Double Eleven shopping festival sees platforms like JD and Douyin starting earlier than Tmall, which retains its pre-sale phase and appears to be lagging behind [1] - Tmall's strategy includes multiple discounts such as an 85% official discount, additional 10% coupons, and a significant 30 billion yuan in red envelopes for live streaming [1] - The dominance of Li Jiaqi in live streaming continues, but there is a noticeable lack of new top influencers in Taobao Live, contrasting with Douyin's approach [1][4] Group 1: Tmall's Strategy - Tmall is shifting its promotional tactics by reducing emphasis on cross-store discounts and introducing various layered discounts [1] - The platform is leveraging high-profile influencers like Li Jiaqi to attract consumers, with new initiatives such as daily coupon distributions [1] - The introduction of multiple celebrity influencers in Taobao Live aims to compete with emerging platforms like Xiaohongshu [4] Group 2: Influencer Dynamics - The decline in sales performance for top influencers, such as Li Dan, indicates challenges in maintaining viewer engagement and sales volume [4][6] - Xiaohongshu's traffic distribution model favors mid-tier influencers, which may limit the growth potential for top creators on that platform [4] - Previous attempts by Taobao Live to attract influencers from other platforms have resulted in mixed outcomes, with many experiencing a drop in performance after initial success [6][8] Group 3: Content and Engagement Challenges - Taobao's inherent content limitations hinder its ability to capture user attention compared to platforms like Douyin and Kuaishou [8] - The platform's focus on efficiency and speed in transactions may detract from user engagement, as seen with the introduction of AI features aimed at quick conversions [8][10] - The financial implications of these strategies raise questions about Taobao's ability to invest heavily in influencer recruitment as it did in the past [10]