双十一变沉默？日均销售额腰斩，1.7万亿拆解，潜价值才是硬通货

Core Insights - The 2025 Double Eleven shopping festival experienced a significant decline in excitement and sales reporting compared to previous years, with major platforms like Taobao, JD, and Pinduoduo being notably subdued in their announcements [1][3] - Despite the lack of specific sales figures from platforms, third-party data indicated a total online sales figure of 16,950 billion yuan, representing a 14.2% increase from the previous year [3][4] Sales Performance - Total transaction volume for 2025 reached 16,950 billion yuan, up from 14,418 billion yuan in 2024, marking a 14.2% year-on-year growth [4] - Comprehensive e-commerce transaction volume was 16,191 billion yuan, a 12.3% increase from 11,093 billion yuan in 2024 [4] - Instant retail transaction volume surged to 670 billion yuan, a remarkable 138.4% increase from 281 billion yuan in 2024 [4] - Community group buying transaction volume fell to 90 billion yuan, down 35.3% from 138 billion yuan in 2024 [4] Consumer Behavior - The average daily sales during the 36-day event were only 472 billion yuan, significantly lower than the peak daily average of 1,048 billion yuan in 2022 [5] - The volume of express deliveries increased by only 6.4%, indicating a lack of overwhelming demand [5] - Younger consumers (those born in the 1990s and 2000s) are now the main spending force, with their average spending increasing by 30% [9] Emerging Trends - Instant retail emerged as a major highlight, with live-streaming retail sales reaching 670 billion yuan, a 138.4% increase from the previous year [7] - Consumers are increasingly valuing "hidden benefits" such as immediate delivery and emotional satisfaction over traditional price discounts [19] - Health-conscious products and smart home appliances are gaining traction, with 82% of consumers purchasing kitchen appliances for health reasons [14] Customer Expectations - A significant 28.9% of consumers prioritize reliable after-sales service over influencer recommendations, which only 7.9% consider important [16] - Brands that offer trustworthy after-sales support, like 365-day return policies, are seeing increased consumer trust and sales growth [16][17] - The market is shifting towards brands that understand consumer needs rather than those competing solely on price [19]