第一财经·2025-11-12 10:43Core Viewpoint - This year's Double 11 marks a strategic transformation in the e-commerce landscape, shifting from a focus on low prices and traffic to a more sustainable model centered on user experience and value creation [1][25]. Group 1: E-commerce Ecosystem Collaboration - Major e-commerce platforms like Taobao are evolving into comprehensive consumer platforms, integrating instant retail with e-commerce to unlock new growth channels in a saturated market [1][3]. - Taobao Flash Sale has significantly contributed to the Double 11 event, with over 100 million new users generating orders during the period [1][10]. - The integration of e-commerce and instant retail is breaking down user boundaries, allowing for the introduction of high-value users into the instant retail space, thus creating new growth opportunities for local businesses [5][8]. Group 2: Supply Quality Enhancement - The competition in instant retail is shifting from traffic scale to supply quality, with platforms focusing on matching high-quality supply to meet the demands of discerning users [13][18]. - During Double 11, Taobao Flash Sale introduced a "Hot Stores" channel, promoting restaurants with higher price points and established dining reputations, thereby enhancing the quality of offerings [14][15]. - High-quality merchants are adapting their products and services to meet the platform's standards, leading to improved operational efficiency and customer experience [17][22]. Group 3: Transition from Subsidies to Service - The industry is moving away from reliance on subsidies towards a focus on sustainable value competition, where the emphasis is on service quality rather than just price [19][23]. - Platforms are implementing measures to ensure service reliability, such as accelerated delivery and compensation for delays, which are crucial for maintaining high customer expectations [20][21]. - This shift in focus allows merchants to build long-term customer relationships through enhanced service and product quality, rather than competing solely on price [24][26].