Core Insights - The 2025 Double 11 shopping festival marks a shift in the e-commerce landscape, moving away from the traditional GMV (Gross Merchandise Volume) reporting to a more subdued and diversified approach to growth metrics [1][3][14] Group 1: Changes in E-commerce Dynamics - The excitement and frenzy associated with Double 11 have diminished, with platforms no longer publicly announcing GMV figures, indicating a transition in consumer engagement and marketing strategies [3][4][6] - Despite the absence of GMV reports, transaction volumes continue to grow, suggesting that the underlying market remains active, albeit with a different focus [5][13] - Platforms are now emphasizing differentiated growth strategies rather than competing solely on GMV, reflecting a more sustainable approach to e-commerce [6][11] Group 2: Consumer Behavior Shifts - Consumers are increasingly prioritizing value over discounts, with a notable decrease in the proportion of shoppers motivated by sales promotions compared to previous years [7][10] - The shopping experience has evolved, with consumers now more inclined to compare products and seek out quality, rather than simply chasing the lowest price [10][12] - The rise of younger consumers (post-95 and post-00) is reshaping shopping habits, favoring instant purchases and diverse product categories, which contributes to the changing dynamics of Double 11 [13][14] Group 3: Technological Integration and Efficiency - Platforms are leveraging AI and digital tools to enhance operational efficiency and improve user engagement, with notable examples including Tmall's AI "Smart Benefit Engine" and JD's digital influencers [12][14] - The integration of online and offline shopping experiences is becoming more prevalent, with over 48% of consumers engaging in a blended shopping journey [13][14] - The focus has shifted from creating hype to ensuring operational efficiency and customer retention, indicating a more mature phase in the e-commerce sector [11][14]