阿里大消息。 阿里巴巴集团CEO吴泳铭6月23日发布全员邮件宣布，即日起，饿了么、飞猪加入阿里中国电商事业 群。范禹继续担任饿了么董事长兼CEO，向蒋凡汇报。南天继续担任飞猪CEO，向蒋凡汇报。饿了么、 飞猪继续保持公司化管理模式，业务决策执行上与中国电商事业群集中目标、统一作战。 淘宝闪购显著提升了平台用户活跃度。在刚刚过去的天猫618购物节，用户规模和活跃度创下新高，平 台购买用户数实现双位数增长，618全周期天猫剔除退款后的GMV同比增长10%。随着淘宝闪购零售品 类订单显著增长，今年的天猫618购物节，品牌纷纷加码即时零售，3C数码、服饰、运动户外等行业多 个品牌成交创历史新高。 分析人士称，阿里在大消费领域具备深厚优势，包括10亿年度活跃消费者、30万家天猫品牌货盘、成熟 的电商服务体系等。此次战略调整后，阿里加大力度整合集团资源，升级走向大消费平台，也有望为淘 宝闪购带来更为强劲的增长。 校对：陶谦 END 潜望系列深度报道丨股事会专栏丨投资小红书丨e公司调查丨时报会客厅丨十大明星私募访谈 吴泳铭在全员邮件中说："这是我们从电商平台走向大消费平台的战略升级。未来，我们将更多从用户 角度出发优化整合 ...

Core Insights - The article highlights the significant changes in the e-commerce landscape during the 618 shopping festival, particularly focusing on Tmall's new approach to reporting gross merchandise volume (GMV) by excluding returns, which reflects a deeper transformation in business models [2][3] E-commerce Trends - Tmall's cancellation of "full reduction" promotions and introduction of "official discounts" has simplified the shopping experience, leading to a 10% year-on-year increase in GMV, marking the fastest growth in three years [3][12] - The shift from promotional efficiency to long-term effectiveness is emphasized, with platforms now focusing on understanding market demands and supporting brand growth rather than just driving sales [5][10] Brand Dynamics - New consumer demands are reshaping brand strategies, with brands needing to adapt quickly to fragmented consumption patterns and rising competition from both new and established players [6][9] - Brands like Perfect Diary have experienced rapid growth followed by declines due to high marketing costs and insufficient brand value, highlighting the challenges in sustaining growth post-initial success [7][9] Platform Strategies - E-commerce platforms are evolving to become value creation spaces rather than just transaction venues, focusing on brand innovation and sustainable growth [10][14] - Tmall's strategies include providing data insights to brands, enabling them to respond to consumer trends effectively, as seen with brands like Mammut and Shuangshan [12][14] Consumer Engagement - The article discusses the importance of understanding consumer behavior and preferences, with Tmall implementing strategies to enhance user engagement and retention, achieving an 88% store retention rate [18] - The dual approach of simplifying consumer purchasing processes while enhancing brand support through targeted marketing and data insights is crucial for fostering long-term relationships between brands and consumers [17][18]

"最简单618"落下帷幕。今年618，天猫率先简化玩法，放弃沿用多年的跨店满减，改为立减叠加无门槛优惠券，消费者不 用做"数学题"。这也是618大促最大的变化之一。 天猫不仅将88VIP的9折优惠券直接发放至账户，还在大促期间分多轮发放，这也让甜甜不再急于快速下单或做出决策，而 是多了不少时间从品牌、评价等不同维度考量后挑选"高性价比"的商品。"更从容和理性地购物，退货率也比过去低好 多。" 大促玩法经过多年演进和迭代，愈发复杂，时常被消费者吐槽购物如同做奥数题，且不得不为凑单先买后退，拉高退货 率。今年618年中大促，最大的变化之一即机制的简化。天猫618放弃沿用多年的跨店满减，改为更为直接的立减叠加消费 券、品类券、国补等优惠。 这样的优惠发放了多轮。例如，6月16日至6月20日，在官方立减8.5折基础上，每个会员88VIP可领取总价值900元的9折无 门槛券。每张消费券使用时无凑单门槛，限额内的活动商品直接打9折，相当于每个88VIP叠加官方立减8.5折后，可以获得 7.65折优惠。这使得沿用多年的"凑单"彻底退出了促销活动。 大促是观察平台策略的窗口，主动改变背后恰是电商平台增长逻辑的改变。不一味追逐 ...

海报新闻记者 孙杰 报道 618年中大促已进入尾声。和往年618不同，当消费者厌倦了满减公式与比价焦虑，今年618期间，以天 猫为代表的电商平台正悄然掀起一场"减法革命"，这场革命的核心密码是：让规则简单些，让品质说 话。 "今年不用再列Excel表算满减了！"济南白领陈林点开天猫618活动页，85折起的官方立减标识清晰醒 目。她看中的一款扫地机器人直降1100元，叠加88VIP无门槛9折券后，最终以7.65折拿下。更让她感到 意外的是，页面标注着"价保至7月5日"的承诺——两周后当她在朋友圈看到同款再降200元，一键申请 便完成了价保退款。 良好的购物体验，也为原本疲软的电商大促注入了一针强心剂。易观咨询数据显示，今年美妆、服饰以 及家电数码等品类生意均迎来开门红。天猫618数据显示，截至6月18日24点，453个品牌在天猫618成交 破亿，同比去年增长24%。 告别复杂规则的"去内卷化"突围 "去年双11我们设置了112种优惠组合，运营团队加班三个月。"某国产美妆品牌电商总监王敏展示的 Excel表令人瞠目：跨店满减、会员加赠、直播间专属券等玩法层层嵌套，最终导致23%的订单因优惠 计算错误引发客诉。 这 ...

Group 1 - Southbound funds net bought Hong Kong stocks worth 1.427 billion HKD on June 19, with notable purchases including Xiaomi Group-W (495 million HKD), China Construction Bank (370 million HKD), ZhongAn Online (278 million HKD), and United Energy Group (104 million HKD) [1] - Southbound funds have continuously net sold Tencent Holdings for 15 days, totaling 17.35164 billion HKD, while net buying China Construction Bank for 7 consecutive days, amounting to 4.31973 billion HKD [3] Group 2 - Xiaomi Group-W reported a record-breaking sales figure of over 35.5 billion RMB during the 618 shopping festival, marking a new high for the company [4] - ZhongAn Online benefits from the recent passing of the Stablecoin Ordinance in Hong Kong, which will take effect on August 1, 2023 [4] - United Energy Group's outlook is influenced by historical patterns indicating that Middle Eastern conflicts may have diminishing long-term effects on global oil prices [4] - Citigroup raised its target price for the Hang Seng Index, maintaining a positive outlook on Hong Kong stocks due to clearer tariff developments and anticipated earnings growth in the coming year [4] Group 3 - Pop Mart has been actively restocking its popular Labubu series ahead of the 618 shopping festival, leading to a decrease in secondary market prices for these products [5] - Alibaba's Taobao Tmall Group reported strong performance during the 618 shopping festival, with 453 brands achieving over 100 million RMB in sales, and a significant increase in user participation [5] - The prescription drug sector has shown strong performance since the beginning of the year, with a consensus forecast for EPS in 2025 being revised up by approximately 2% [5]

Core Insights - The 2025 "618" shopping festival shows a more open platform and simpler gameplay, with a 9.4% year-on-year growth in GMV across major e-commerce platforms, including Taobao, Tmall, JD, and Pinduoduo [1] - The overall online retail sales in China reached 60,402 billion yuan from January to May, reflecting an 8.5% year-on-year increase, aligning with the positive online transaction trends reported by Analysys [3] - The simplification of gameplay during the 2025 Tmall 618 event has effectively stimulated new consumer spending, leading to record user engagement and transaction growth across various sectors [5] E-commerce Performance - The comprehensive e-commerce market share for Taobao and Tmall reached 62.4%, with a transaction growth rate of 9.2% [1] - The 618 festival's sales approach has shifted from a sales-centric to a consumer-centric perspective, with platforms lowering barriers and improving efficiency [3] - The number of express delivery packages during the 2025 618 period is expected to exceed 20 billion, marking an increase of approximately 3 billion packages compared to the previous year [3] Consumer Engagement - The number of active users and overall engagement on Taobao and Tmall saw significant increases, with double-digit growth in purchasing users during the 618 period [5] - The high-net-worth 88VIP membership surpassed 50 million, indicating a new record in user scale [5] - Brand membership numbers grew by 15% year-on-year, with brand members' average spending reaching 1.93 times the overall industry average [5]

新华财经北京6月19日电（记者丁雅雯）淘宝天猫19日发布的数据显示，5月13日至6月18日，453个品牌 成交额破亿元，用户规模和活跃度创新高。国补拉动"以旧换新"消费全面爆发。 "618"正值春夏运动消费旺季，运动户外产品增长远超预期，36个品牌成交额破亿元，2196个品牌成交 额较去年"618"翻倍增长。今年夏天"小球运动"兴起，羽毛球、网球、匹克球销量较去年"618"分别增长 超50%、超75%、超1100%。 新品成为驱动品牌业绩增长的核心动力之一。"天猫618"期间，新品整体成交额较去年"618"增长 153%，其中12个新品成交额破亿元，504款新品成交额破千万元，6970款新品成交额破百万元。 天猫相关负责人表示，玩法简化的"天猫618"提质提效，促进品牌整体成交增长。今年天猫全力扶持优 质品牌、原创品牌，从商家激励、新品扶持、品牌会员、品质直播、用户增长等方面加大投入，全面支 持优质品牌2025年高质量增长。 （文章来源：新华财经） 数据显示，"天猫618"期间，家电家装、3C数码产品销量明显增长，其中，参加国补的品类成交总额较 去年"双11"增长116%，113个品牌成交额破亿元，超9200 ...

Group 1 - Tmall's 618 event saw a significant increase in user scale and activity, with 453 brands achieving over 100 million yuan in sales, a 24% year-on-year growth [1] - High-value consumer group 88VIP members exceeded 50 million, marking a new high, while brand membership increased by 15%, with member average spending 1.93 times the overall industry average [1] - The home appliance and 3C digital sectors experienced explosive growth, with total sales for participating categories up 116% compared to last year's Double 11, and over 9,200 brands doubling their sales [1] Group 2 - Quality live streaming has become a new industry standard, with 81 live streaming rooms achieving over 100 million yuan in sales, and the number of live streaming rooms exceeding 10 million yuan increased by 21% year-on-year [2] - Emerging sectors such as trendy toys, jewelry, pets, and beverages are identified as high-growth trends during this year's Tmall 618 [3] - The event focused on quality improvement and efficiency, simplifying the shopping experience while supporting quality and original brands through various resources [3]

华尔街见闻获悉，2025天猫618玩法简化，用户规模和活跃度创新高，品牌全周期成交高效增长。美 妆、服饰、家电家装、3C数码、运动户外、潮玩、宠物等行业成交规模及增速，蝉联全网第一。截至6 月18日24点，453个品牌在天猫618成交破亿，同比去年增长24%。（全天候科技） ...

如果消费者对电商大促已逐渐形成免疫力，平台如何带领品牌穿越周期？ 从比拼低价，到更强调高质量增长，史上最长"6·18"正在酝酿新变化。 平台之间不再单纯比拼低价，无论是商家还是用户，开始更理性看待电商大促。消费者对电商大促审美 疲劳，不再冲动消费囤货；商家们根据不同货源选择不同平台和销售形式。部分接受采访的商家表示， 今年"6·18"最大的变化是根据自身需要选择是否参加大促。 在这些看似理性的选择背后，电商大促终于走到十字路口。据了解，部分品牌商已经开始重新评估电商 大促对销售的拉动作用，大促之外能否为线上生意找到新增量，新的玩法和实验正在研究中。相比大促 短期拉动GMV，品牌商更关心如何运营长线生意。 《中国经营报》记者从天猫方面了解到，最简单的一届"6·18"背后，新的策略和方法论正在实践和打 磨，天猫开始尝试重构电商大促。 告别复杂：回归"简单实惠" 商家告诉记者，以往消费者为了凑单，临时增加一些不需要的衣服或者小件，"凑单的命运最后大概率 都是退货"，对于商家则是增加额外工作量和无效劳动。 不仅天猫，今年"6·18"大促整体玩法都在变简单。京东的核心优惠也趋向于直接降价和补贴，优惠券可 在显眼位置一键 ...