中国基金报·2025-10-15 10:27Core Viewpoint - The "Double Eleven" shopping festival has evolved into a "shopping season," with platforms simplifying discount rules while intensifying competition in instant retail and overseas strategies [1][5]. Group 1: Extended Cycle and Simplified Rules - This year's "Double Eleven" started earlier than ever, with a promotional period exceeding one month, reflecting platforms' eagerness for sales while potentially diminishing consumer urgency [3][5]. - Major platforms have adopted straightforward discount strategies, such as "automatic deductions" and "official reductions," moving away from complex rules [5][6]. - Most platforms are offering discounts around 15% to 17% off, with common promotions like "300 off 50," indicating that the overall discount intensity remains similar to previous years [6]. Group 2: Focus on Instant Retail - Instant retail has emerged as a key battleground for platforms, driven by enhanced delivery capabilities from the "takeout war" [7][8]. - The market for instant retail is projected to exceed 2 trillion yuan by 2030, with younger consumers increasingly valuing delivery speed and convenience [8]. - Platforms are integrating instant retail into their promotions, with initiatives like Tmall's "nearby flash purchase" and JD's incentive programs for instant retail merchants [8]. Group 3: New Narrative in Overseas Expansion - The overseas strategy has become a new narrative for competition among platforms, with Tmall launching a comprehensive overseas initiative and investing 1 billion yuan in marketing across 20 countries [9][10]. - Platforms are facilitating easier overseas entry for small businesses, allowing them to maintain pricing and inventory control without the need for overseas teams [12]. - The competition among platforms is shifting towards ecosystem collaboration, technology-driven efficiency, and sustainable user value operations [12].