11月26日，值得买科技11月AI进展分享会顺利举行。值得买科技CTO王云峰分享了集团AI最新进展，重点介绍了全新打造的"海纳"ACP（代理商业协议）， 并透露将与微盟共建，并接入支付宝的AI支付能力。"什么值得买"产品总监吴娴和值得买科技AI研究员张立飞分别围绕负责项目进行了分享。 AI进展分享会是值得买科技自今年5月推出的线上直播活动，持续向外界同步集团AI进展，与行业保持高频沟通、共建AI时代。在此前的分享中，值得买科 技已向外界完整介绍了面向C端用户、B端客户以及AI生态的AI产品、应用及服务，也多次邀请行业嘉宾共同探讨AI议题。 分享会上，"海纳"ACP作为重点项目进行了正式亮相。王云峰介绍，"海纳"平台是面向AI生态的消费服务能力增强平台，其中，"海纳"MCP服务聚焦大模型 消费信息能力增强，夯实AI底层基础建设；而"海纳"ACP协议则面向"对话即购物"场景，打通在智能体上完成交易链路的全流程。二者协同配合，形成 "能 力供给-匹配交易" 的完整闭环，加速构建AI电商消费新范式。 11月MCP月输出量破亿、"张大妈"活跃用户增长8倍 11月分享会上，王云峰以一系列数字来分享集团AI具体成绩："海纳 ...

值得买科技AI研究员张立飞介绍，ACP是"对话即购物"的底层技术标准，也是连接AI能力与商业价值的 关键基础设施，并将在AI时代创造无限新机遇。 新浪科技讯 11月26日晚间消息，值得买科技11月AI进展分享会上，值得买科技CTO王云峰介绍，"海 纳"MCP Server合作伙伴数量破40家，11月对外输出量破1亿，在具体场景中还助力荣耀YOYO实现定向 优惠券发放、自动领券及全网比价功能。AI购物管家"张大妈"不仅实现了活跃用户环比增长8倍、平均 次留环比增长24%，还通过A2A协议入驻华为小艺智能体中心。此外，核心产品"什么值得买"11月 AIGC阅读时长占比相比去年同期提升4倍。 今年10月，值得买科技与微盟达成战略合作，将自身消费数据服务能力与微盟SaaS商业操作系统深度融 合，率先在国内建设AI电商交易闭环。在11月的分享会上，王云峰也透露，在与微盟合作基础上，将 进一步与支付宝合作探索AI支付服务，构建起"AI智能体、用户、商家与支付平台"协作交易闭环。 据悉，"海纳"ACP将率先在"张大妈"App中实现场景落地，实现用户从"对话-推荐-下单-支付"的全流程 无缝衔接，并形成AI电商的可验证样本。 ...

AI电商Agent正重塑消费入口：大摩预测2030年Agent电商规模将达3850亿美元，占美国电商总额 20%。当前ChatGPT等通用平台已展现强大商业转化力——36%用户通过AI建议完成购买，阿里巴巴千 问APP与OpenAI购物搜索的布局显示科技巨头正全力抢占从"对话"到"交易"的新流量入口。 AI的叙事逻辑正在从单纯的"对话"向"行动"——即掏空用户的钱包——发生剧烈转变。从阿里巴巴 发布的"千问APP"到OpenAI推出的购物搜索，科技巨头们正通过"电商Agent"（代理式AI）争夺下 一个时代的流量入口。 巨头进场：从阿里到OpenAI的"超级入口"之争 新闻层面的频繁动作证实了AI To C商业化的加速。 11月23日，大摩分析师Brian Nowak及其团队最新发布研报称，我们正处于一场商业变革的前 夜。Agent式电商预计在2030年将达到3850亿美元的GMV规模，约占美国电商总额的20%。 当前 数据显示，通用大模型平台（如ChatGPT）在购物渗透率上远超零售商自研AI，且用户不仅 在"聊"，更在"买"——约30-40%的AI用户已通过平台建议完成购买。 对于投资者而言，这一趋势直接 ...

Core Insights - The company is a leading domestic e-commerce operation service provider established in 2012, focusing on providing professional e-commerce retail services to major brands in the fast-moving consumer goods sector, including beauty, personal care, and health products [1] - The company has initiated an AI e-commerce strategy, aiming to leverage AI technology to enhance operational efficiency and reduce costs, with initial financial improvements already visible [2] Company Overview - The company employs nearly 1,300 staff across major cities in China and operates under a dual strategy of "full-service e-commerce provider + new consumer brand accelerator" [1] - Key brand clients include Procter & Gamble, Shiseido, Amorepacific, Yili Group, and Mao Geping, among nearly a hundred others [1] Industry Dynamics - The e-commerce operation industry has undergone a 3-4 year adjustment period, transitioning towards self-owned brands and AI integration [1] - Alibaba's e-commerce business has refocused on growth as a core strategy, shifting from a "live streaming + low-price strategy" to activating core customer groups and enhancing platform performance [1] AI Strategy and Implementation - The company has launched several AI systems, including cloud-based solutions and intelligent customer service, which are expected to drive a shift from a labor-intensive to a technology-intensive model [2] - The company is part of Alibaba's first batch of AI Agent co-creation projects, indicating a strong partnership and resource sharing within the Alibaba ecosystem [2] Financial Outlook - The company anticipates a significant performance turnaround in 2025, driven by the recovery of the Tmall market and the implementation of AI applications [2] - Profit forecasts for the company are projected at 110 million, 160 million, and 190 million yuan for the years 2025, 2026, and 2027, respectively, with a strong recommendation for investment [2]

Core Insights - Tmall achieved its best growth in four years during this year's Double 11, excluding refunds [4][5] - The strategic focus for Tmall in 2025 is on growth, emphasizing investment in consumers, quality brands, and new shopping scenarios [4][6] Growth Metrics - Nearly 600 brands achieved over 100 million in sales, with 34,091 Tmall brands doubling their sales year-on-year [4] - 18,048 brands saw growth exceeding three times, while 13,081 brands grew over five times compared to last year [4] - 406 new brands ranked first in trending categories, with 26 achieving over 100 million in sales [4] Consumer Engagement - The number of 88VIP members reached over 53 million, with daily orders from this group increasing by 31% year-on-year during Double 11 [5][11] - Tmall's retail orders from Taobao Flash Sale grew more than two times compared to last year [5] Strategic Adjustments - Tmall's management has shifted its focus from "platform sovereignty" to "ecosystem sovereignty," prioritizing support for quality brands and original merchants [7] - The "扶优策略" (supporting quality strategy) emphasizes the importance of original capabilities and innovation in products and brands [7][9] New Initiatives - Tmall's new membership system launched in August 2023 aims to cultivate a broader consumer base, with over 1 billion users in platinum and above categories [11] - Strategic partnerships, such as with Xiaohongshu, are aimed at enhancing traffic acquisition and integrating various platforms for better consumer engagement [12] Future Directions - Tmall is focusing on AI and instant retail as key growth areas, with significant investments planned for these sectors [13][15] - The integration of AI tools is expected to enhance user experience and operational efficiency for merchants [15] Performance Testing - Double 11 serves as a critical testing ground for Tmall's various strategies and initiatives, providing insights into their effectiveness [13][15]

Core Insights - The 2025 "Double 11" shopping festival marks its 17th year, evolving from an annual e-commerce promotion to a nationwide shopping extravaganza, with instant retail becoming a new highlight this year due to Taobao's participation [1][2] Group 1: Transformation of E-commerce Platforms - E-commerce platforms are transitioning into "big consumption platforms," integrating diverse scenarios and demands, with "Double 11" serving as a testing ground for internet innovation [1][2] - The focus of growth has shifted from merely acquiring traffic to achieving synergy through instant retail, content recommendations, and scenario linkage, allowing platforms to tap into deeper consumer needs [4] Group 2: Changes in Consumer Behavior - Consumers are moving from planned bulk purchases to seeking instant experiences, desiring immediate access to products and services across various categories [3] - The rise of young consumers is reshaping supply dynamics, with a shift from mass-market products to personalized and culturally resonant offerings [5][6] Group 3: AI Integration in E-commerce - This year's "Double 11" is characterized as the year of AI's full integration into e-commerce, enhancing consumer experiences and operational efficiencies for merchants [8][9] - AI technologies have been implemented across the shopping process, significantly improving merchant efficiency and product sales [8] Group 4: Future Competitive Landscape - The competition in e-commerce is expected to pivot from price advantages to technological capabilities, with AI algorithms and data governance becoming critical for efficiency and user experience [9] - Future competition will focus on four key elements: scenario integration, technological capability, rapid supply response, and a healthy ecosystem [9]

Core Insights - The 2025 Double 11 event marks a significant transformation for Taobao, driven by the "Big Consumption" strategy and the integration of AI, which aims to enhance user engagement and operational efficiency [2][3] - Taobao is undertaking a major project to reconstruct its product database using AI, resulting in a new, AI-optimized database of 2 billion products that serves as a foundation for search and promotion [2][10] - AI is evolving from a mere auxiliary tool to a business partner for merchants, providing comprehensive solutions in data analysis, marketing, design, and customer service [3][14] - The integration of AI into the shopping experience aims to improve consumer decision-making efficiency, with six new AI shopping applications launched to enhance user experience [4][21] AI Integration and Efficiency - This year's Double 11 is the first to fully implement AI across all transaction stages, addressing key pain points in traffic matching, consumer decision-making, and merchant operating costs [4][5] - The AI-driven reconstruction of the product database has led to a double-digit increase in traffic matching efficiency, with search relevance improving by 20 percentage points [11][12] - AI tools for merchants have significantly reduced operational burdens, with the AI assistant generating over 5 million business analyses daily, saving merchants an average of 30% in workload [15][17] Consumer Experience Enhancement - The shift in consumer behavior towards platforms like Douyin and Xiaohongshu necessitates a more user-friendly Taobao, focusing on alleviating decision fatigue [19][20] - New AI applications, such as AI Universal Search and AI Help Me Choose, facilitate a more intuitive shopping experience by allowing users to input complex queries and receive tailored recommendations [21][23] - The overall goal is to create a sustainable business cycle where improved platform efficiency, merchant growth, and enhanced consumer experiences are interconnected [26]

Core Insights - The 2023 Double Eleven shopping festival reflects a shift in consumer behavior towards cautious spending, with a significant increase in discussions around promotional strategies and price discounts, while concerns about product quality have decreased [2][6][8] - The festival is evolving from a focus on sheer volume to a more nuanced approach that emphasizes personalized and targeted promotions, indicating a transition in the e-commerce landscape [5][15][18] Insight 1: Shift in Consumer Decision-Making - The primary factors influencing purchasing decisions have shifted to promotional strategies, with discussions on "promotional gameplay" increasing nearly fivefold, surpassing discussions on price discounts and product quality [8][10] - The mention of product quality has dropped from 42% to 15%, while discussions on price discounts rose from 17% to 23%, indicating a focus on how to maximize savings through complex promotional tactics [10][11] Insight 2: Personalized Promotions - The complexity of promotional strategies has increased, with platforms offering tailored coupons based on consumer profiles, reflecting a shift towards "precision marketing" [15][16][18] - This approach aims to enhance consumer engagement and drive sales by targeting specific consumer needs and preferences [17][18] Insight 3: High-Growth Categories - The most significant sales growth during Double Eleven was observed in essential daily goods and personalized experiences, with entertainment spending surging by 1177% [24][26] - Other categories showing robust growth include medical products, transportation, and outdoor apparel, highlighting a trend towards quality-driven consumption [26][27] Insight 4: Rise of Instant Retail - Instant retail has gained traction, with platforms like Taobao and JD seeing substantial increases in active users and sales driven by flash sales and quick delivery options [28][29] - This trend signifies a shift towards a seamless shopping experience where consumers can fulfill various needs within a single ecosystem [34][35] Insight 5: AI Integration in E-commerce - AI technologies have become integral to the shopping experience, with platforms implementing AI tools for personalized recommendations and customer service, enhancing overall shopping efficiency [35][36][40] - Approximately 70% of young consumers have engaged with AI-driven e-commerce services, indicating a growing acceptance of AI in retail [37][40] Insight 6: Importance of Offline Experiences - There is a notable resurgence in interest towards offline shopping experiences, with over 70% of young consumers participating in offline activities during Double Eleven [41][44] - This trend suggests that physical stores are becoming essential for building deeper connections between brands and consumers, emphasizing the need for a hybrid shopping model [41][45]

Core Insights - The 2025 Double 11 event is notably low-key compared to previous years, with Alibaba's Taobao and Tmall not releasing a comprehensive sales report, indicating a shift in the event's significance [2] - The appeal of major promotional events like Double 11 has diminished, leading platforms to focus on "local increments" rather than overall sales growth [2][3] - Instant retail has surged, with significant growth in categories such as convenience store orders increasing by 670% and 3C digital products seeing over 290% growth compared to the previous year [3][4] Market Environment - The market landscape has changed dramatically, with instant retail becoming a major player, affecting traditional e-commerce strategies [3][4] - Instant retail has attracted numerous offline stores to participate in Double 11, leading to a more integrated online and offline shopping experience [3] E-commerce Strategy - E-commerce platforms are shifting their focus from total GMV to supporting high-growth categories and core members, moving away from a one-time sales model [6][9] - Taobao and Tmall are implementing strategies to reduce reliance on one-time purchases, encouraging long-term customer relationships and brand loyalty [10][11] Logistics and Delivery - The logistics sector is experiencing increased pressure, with reports of early peak volumes and some areas facing delivery bottlenecks [6][7] - The use of smart logistics, including a significant rise in the deployment of unmanned delivery vehicles, is enhancing delivery efficiency [8] Consumer Behavior - There is a notable shift in consumer spending patterns, particularly in the pet care sector, with premium products gaining traction [13][14] - The integration of AI in e-commerce is enabling more personalized shopping experiences, allowing smaller brands to gain visibility [12] Competitive Landscape - The competition between traditional shelf e-commerce and content-driven platforms like Douyin is intensifying, with each adapting their strategies to capture consumer interest [14][15] - The evolution of consumer expectations is leading to a more holistic approach to e-commerce, balancing product quality with emotional and experiential needs [15]

Core Insights - OpenAI's collaboration with Walmart signifies a shift in retail experiences, moving AI from backend advertising to frontend consumer interactions, which has positively impacted stock prices of involved companies [1] - The competitive landscape in e-commerce is intensifying, with platforms like Taobao responding to AI advancements by integrating AI into their operations to enhance user experience and operational efficiency [2][7] Group 1: AI Integration in E-commerce - Taobao has initiated a significant paradigm shift by utilizing AI to drive its entire system during the Double 11 shopping festival, with over 15 billion calls to its AI model on the first day of pre-sales [3][9] - The company aims for a systematic overhaul rather than superficial AI integration, focusing on enhancing user interactions and operational processes [8][9] - Taobao's AI-driven tools are designed to improve efficiency for small and medium-sized businesses, automating tasks such as data analysis and marketing [11][13] Group 2: Competitive Landscape and Market Position - The competition from platforms like Pinduoduo, JD.com, and Douyin is increasing, prompting Taobao to leverage AI as a means to build technological barriers and enhance user retention [7][26] - Alibaba's market value is under pressure from competitors, highlighting the urgency for Taobao to demonstrate the effectiveness of its AI initiatives during major sales events [7][26] - The introduction of AI tools has led to significant improvements in operational efficiency, with reports indicating that AI pricing systems and advertising models have enhanced return on investment by 12% [15][18] Group 3: User Experience and Interaction - Taobao is shifting from traditional search interfaces to conversational decision-making interfaces, allowing for a more intuitive user experience [24] - New AI features such as "AI万能搜" and "AI帮我挑" are designed to facilitate user decision-making through natural language processing and multi-modal understanding [22][24] - The transition to AI-driven interactions aims to reduce communication costs for users and improve conversion rates for the platform [24][25]