Core Viewpoint - The 618 shopping festival this year marks a significant transformation in the e-commerce industry, shifting from complex marketing tactics to a focus on value creation and consumer needs, with Tmall reporting a 10% growth in GMV after refunds, the highest in three years [1][6][8]. Group 1: Simplification of Shopping Experience - This year's 618 event has simplified the shopping experience, moving away from complex discount structures to straightforward pricing, which has positively impacted conversion rates for brands [2][3]. - Tmall eliminated complicated "full reduction" rules, offering a basic discount of 15% off and up to 50% off, making the shopping process more user-friendly [3][4]. - The simplification of rules has reduced the burden of refunds and returns, allowing merchants to operate more efficiently and increasing the number of participating consumers [5][6]. Group 2: Shift in Consumer Behavior - The change in discount structure has led to a shift in consumer decision-making, focusing more on product quality and suitability rather than navigating complex rules [4][10]. - The increase in user participation and engagement during the 618 event indicates a successful transition to a more straightforward shopping experience, with Tmall reporting a double-digit growth in user numbers [5][6]. Group 3: Support for Quality Merchants - The e-commerce industry has been plagued by low-price competition and excessive marketing, which has eroded profit margins and quality [10][11]. - Tmall's strategic focus on supporting quality brands and products aims to shift the competitive landscape from price wars to long-term value competition [12][16]. - The recent initiatives by Tmall, including the introduction of a "real experience score" and support for original brands, have shown positive results, with a 9% revenue growth reported in the latest quarter [13][14]. Group 4: New Product Growth - The 618 event has seen significant growth in new product sales, with overall transactions for newly launched products increasing by 153% [18]. - Innovative brands have capitalized on the "new product dividend," with some achieving sales growth of up to 200 times during the event [19]. - The focus on quality and innovation is expected to drive sustainable growth in the e-commerce sector, moving away from a reliance on traffic and low prices [21].