Group 1 - The core viewpoint of the report indicates that the Chinese online consumption market demonstrates strong resilience, with the CBI index projected to grow by 4.4% in Q3 2025 compared to Q3 2023, and a year-on-year increase of 0.92% [1] - The report highlights that online channels are not only the main battlefield for sales growth but are also transitioning from relying solely on promotional bursts to a normalized operation that balances promotions with off-peak periods [1] - In Q3, the online sales of fast-moving consumer goods (FMCG) grew by 16.8% year-on-year, surpassing the 14.3% growth rate of the same period in 2024, indicating a shift in consumer behavior and brand strategies [1] Group 2 - Analysis of the CBI 500 strong brands shows that the growth drivers in the e-commerce industry are undergoing a generational shift, moving away from reliance on platform traffic distribution and price competition [2] - Leading brands are increasingly focusing on enhancing user engagement through product launches, holiday gifts, and customized services tailored to specific life scenarios, rather than relying solely on promotions [2] - The CBI index is developed in collaboration with Peking University's National School of Development, Peking University's Digital Finance Research Center, and Sun Yat-sen University's School of Management, with technical support from Alibaba's Taotian Group, aiming to assess brand value based on actual consumer purchasing behavior [2]