Core Insights - The 618 shopping festival has transformed into a prolonged pressure test for the industry, raising questions about its necessity and effectiveness [4][13][14] - Small and medium-sized merchants are struggling under the weight of platform-imposed discounts and coupons, leading to a chaotic pricing structure [4][5][11] - The traditional reliance on "super anchors" for sales is diminishing, with brands shifting towards self-broadcasting and a more stable promotional system [10][11][15] Group 1: Industry Dynamics - The 618 event lasted 37 days, marking it as the longest promotional period in history, but resulted in exhaustion rather than excitement for participants [2] - Merchants are burdened by overlapping discounts and coupons from platforms, complicating their pricing strategies and negatively impacting sales [4][5] - The cancellation of the "full reduction" strategy has led to consumer confusion, as many find themselves better off with direct discounts rather than complex coupon systems [5][6] Group 2: Consumer Behavior - Consumers are increasingly frustrated with the complexity of the shopping process, feeling that they are forced into a "mathematical" approach to shopping [5][6] - The perception of "lowest prices" has diminished, with many users now conducting cross-platform price comparisons before making purchases [11][12] - Instant retail services are gaining traction, providing immediate delivery options that challenge the traditional pre-sale and tail payment model [12] Group 3: Strategic Shifts - Major platforms are moving away from dependence on top influencers, focusing instead on brand self-broadcasting and collaborative promotional strategies [10][11][15] - The shift towards a more rational consumer mindset is evident, with 76% of online shoppers comparing prices across platforms before purchasing [11] - The 618 festival is evolving from a simple sales event to a comprehensive industry evaluation, testing supply chain stability, customer service, and technological capabilities [14][15]