虎嗅APP·2025-06-20 09:47Core Viewpoint - Tmall's overall performance during the 618 shopping festival exceeded expectations, with a 10% year-on-year growth in GMV after refunds, marking the highest growth in three years [1][12]. Group 1: Performance Metrics - The GMV growth of 10% outpaced the retail sales growth of 5% and online retail growth of 8.5% in the first five months of the year [1]. - The number of purchasing users also saw double-digit growth, indicating a successful strategy [1]. - The focus on GMV excluding refunds reflects a shift towards measuring "real completed transactions," aligning the goals of the platform and merchants [1][11]. Group 2: Strategic Changes - Tmall simplified its marketing strategies, notably through the introduction of a "discount" model, which was a significant change aimed at enhancing consumer experience [3][5]. - The company invested in improving consumer experience to stimulate demand, leading to a noticeable decrease in pre-shipment return rates [6]. - The new approach to consumer coupons, allowing discounts on any item without minimum purchase requirements, significantly improved consumer experience and purchasing demand [6]. Group 3: Support for Quality Merchants - Tmall has been focusing on supporting high-quality merchants, particularly those with innovation and stable supply capabilities, which has proven effective as evidenced by a 24% increase in the number of brands exceeding 100 million in sales during 618 [7]. - The evaluation system for merchants has been upgraded to a "real experience score" based on AI analysis, moving away from traditional metrics [8]. Group 4: AI Integration - AI plays a crucial role in Tmall's strategy, helping merchants generate marketing materials and optimize ad targeting to improve ROI [2][9]. - The AI tools assist in accurately matching merchants with consumer demographics, enhancing user experience and operational efficiency [10].