尽管看上去依然热闹非凡，但毋庸置疑的是，一场行业大洗牌正在电商领域静默地进行，曾经风光无限的增长神话，正在让位于残酷的现实。 实际上，近年以来，电商平台普遍面临的增长压力已有目共睹。这一点在头部电商公司最新发布的财报中得到集中体现，阿里虽然营收仍在增长，但净利 润却暴跌；京东更是"增收不增利"；拼多多增速连续两季降至个位数。 与此同时，电商市场涌入众多新玩家，尤其是抖音和小红书的加速冲击，传统电商平台也在不断拓展业务边际，这都昭示行业走到一个新的转折点。 某种意义上，目前电商的局面，颇有点像各在座玩家进入了"惯蛋局"关键的"报牌"时刻，但没有人愿意下牌桌。 接下来的故事，谁将成为新的王者，谁又会让位于新人？当然，市场终究会给出答案。 但无论如何，零售的本质从未改变，高效地为消费者提供物超所值的商品与服务，仍是基本的生存法则。"讲故事不如守住本分"，这句话，放在电商行 业，同样适用。 01 财报背后：多因素下的重重压力 种种现象表明，电商行业正从高速增长期进入深度调整阶段，竞争格局正经历结构性转变。 国信证券研究院的数据显示，2022年，国内电商CR2（两家企业的集中率）集中度为60%，CR5为84%；而截至2 ...

今年双11，淘宝首次在全球20个国家和地区同步启动大促，并以中、英、俄、泰、马来五种语言服务全球消费者。 双11全周期，淘宝在新加坡、马来西亚、澳大利亚、日本等十多个境外市场实现GMV强劲增长，双11加速从"中国购物节"蜕变为全球消费者的节日。 出海为淘系商家创造了巨大的增量。数据显示，双11期间，蕉内、亚朵星球、可复美、珀莱雅等数十个品牌境外成交额破千万。淘宝推出的"出海增长计 划"帮助商家0门槛出海，获得超额的海外增长回报，超过20万签约商家成交额实现翻倍增长，其GMV增幅更是淘宝出海整体大盘的三倍。 过去一年，淘宝出海不断加强出海"基础建设"。随着物流、支付、本地化运营能力的全面提升，海外消费者也正以前所未有的热情积极参与双11。双11期 间，淘宝境外日下单用户数（DAC）实现双位数增长；其中9个重点市场，日下单用户数同比增幅更超过20%，显示出这些区域作为高潜力出海目的地的巨 大价值。 今年以来，淘宝还推出了多种外语版本，显著降低了非中文用户的使用门槛，吸引了大量的海外本土消费者。双11当天，澳大利亚与新加坡英文用户成交都 创下了历史新高；在通用俄语的哈萨克斯坦，30%的新增购买用户通过俄语界面完成下 ...

"双11"走到第17年，各电商平台战报不再公布具体GMV（商品交易总额），统计周期也参差不齐，横 向可比较维度并不统一，但是各家可以在时间维度上纵向与自己比较。 11月15日，阿里巴巴公布2025年天猫"双11"成绩，称这是"以四年来最好增长收官"。 对于行业和大众来说，随着大促常态化，"双11"的独特性已逐年减弱，但是对于阿里而言，今年却有巨 大变革意味：今年是淘宝升级大消费平台、淘宝闪购全面参与、AI全面应用的第一个"双11"。 根据淘天公布的数据，今年"天猫双11"全周期（10月15日至11月14），淘宝闪购零售订单同比去年增长 超2倍，天猫品牌即时零售日均订单环比9月增长了198%。融入淘天后的第一个"双11"，飞猪成交创历 史新高，同比增长超30%。 今年阿里"双11"对消费者给出了史上力度最大的优惠福利投入，首次规模化地用AI工具来发放红包，AI 红包带动品牌日均下单用户数增长86%。最终收官的战绩包括近600个品牌成交破亿元、3.4万个品牌同 比增长翻倍等。 这是阿里巴巴在2025年结束"1+6+N"（1个集团+6大重点板块+N个其他业务）时代，回归"一个阿 里"（One Alibaba）的架构 ...

无论是逛商场、点外卖、订酒店，还是在直播间买东西、网购大件，消费者总难免遇到各种问题：货不 对板、服务态度差、退款拖延、霸王条款、售后不作为…… 很多人想投诉，却不知道到底该去哪。 其实，投诉渠道分为两大类——线下渠道和线上渠道。每种消费场景都有对应的处理方式，只要找对入 口，维权并不复杂。 一、线下消费的投诉渠道 1. 商场和门店现场投诉 如果是在实体店购物、吃饭、娱乐或办卡，出了问题最直接的方式就是： 找店内负责人、 找商场客服 台、 找现场管理人员。例如： 服装店商品瑕疵、 餐厅食品问题、 美容院服务不到位、 线下小店拒绝 退换货。 2. 投诉连锁品牌总部 如果门店属于连锁品牌（如餐饮连锁、酒店集团），可以直接向品牌总部投诉： 官方客服热线、 品牌 官网"用户反馈"、 品牌微信公众号、 品牌App。 连锁品牌通常更重视口碑，处理速度也会更快。 3. 酒店类消费 酒店问题可以按情况分成两类： 线下入住付款 — 找酒店前台 + 总经理 + 品牌总部； 平台上预定（飞猪/携程/同程等） — 在旅游平台售后里直接发起投诉。 常见问题如脏乱差、设施损坏、酒店拒绝退订等，平台客服介入通常会比较快。 大多数门店都会给 ...

Core Insights - This year's Double 11 event marked the first time Taobao launched globally across 20 countries and regions, providing services in five languages, resulting in strong GMV growth in overseas markets [1][2] - The number of daily active users (DAC) from overseas markets saw double-digit growth, with nine key markets experiencing over 20% year-on-year increases, indicating significant potential in these regions [1] Group 1 - During the Double 11 period, dozens of brands achieved over 10 million in overseas transactions, with more than 200,000 signed merchants doubling their transaction volumes, outpacing the overall growth rate of Taobao's international business by three times [1] - Taobao's introduction of multiple foreign language versions has lowered the usage barrier for non-Chinese users, attracting a large number of local overseas consumers [1] - On Double 11 day, English-speaking users in Australia and Singapore achieved record transaction highs, while 30% of new purchasing users in Kazakhstan completed orders through the Russian interface [1] Group 2 - Taobao's first-time launch of direct mail services for furniture successfully addressed the "last mile" challenge for large goods, while other self-operated businesses like Ali Health and Fliggy also initiated overseas services [2] - The cross-border free shipping trial for perishable food in Hong Kong resulted in over 50% year-on-year growth in transaction volume, highlighting the potential for more industries and merchants to benefit from overseas growth opportunities [2] - Taobao's overseas general manager emphasized that Double 11 serves as a crucial "barometer" for the Chinese e-commerce industry, with this year's event achieving local consumer engagement, diverse supply offerings, and global fulfillment [2]

【大河财立方 记者 陈薇】很多人在11月11日当天都在问：今年"双11"结束了吗？答案是——并没有。 天猫"双11"今年持续到11月14日。 11月15日凌晨，天猫发布了"双11"全周期战报，以剔除退款后的成交来看，天猫实现了四年以来"双 11"全周期最好的一次增长，其中，近600个品牌成交破亿元。 即便是繁杂多样的促销贯穿全年的当下，对很多品牌来说，"双11"最为看重的一个增长周期，除了拉长 周期之外，创造更多场景成为电商平台解锁增长的重要路径。 天猫"双11"拿下四年来最好的一次增长 今年"双11"被称为"史上最长"且"史上最早"。 抖音、京东早在10月9日就开售，几乎与国庆节假期无缝衔接；天猫10月15日开启预售、20日正式开 卖。结束时，抖音、京东还是选在11月11日，天猫则错位到11月14日。 囤完旅游，核销进度也在加快，截至11月14日24时，已出行或入住的活动商品GMV同比增长超30%。 以新疆旅游为例，疆游天下旅游旗舰店负责人宋俊岐表示，其新疆小团游商品"双11"期间累计GMV突 破1000万元，整个大促期间，就已经有超过1000位消费者履约。 场景创新多但打折依然不够省事 不仅天猫收获了四年 ...

图源：视觉中国 2025年11月15日凌晨，第17个双11购物节落下帷幕。当滚动的数字最终定格，弥漫在杭州阿里巴巴西溪园区的空气，不再是过去几年的焦虑与守成，而是一 种久违的"进攻"气息。 根据淘天最新数据，2025年天猫双11以实现四年来最好增长收官。近600个品牌成交破亿，34091个品牌同比增长翻倍，18048个同比增长超3倍，13081个同 比增长超5倍，均超去年同期。 今年3月，京东外卖入场在行业内撕开裂口，阿里也迅速看到了这个高频场景尚未被挖掘的巨大潜力。不过，蒋凡的选择是"换一个地方打"，没有让饿了么 孤军奋战，而是反手将其"并入"了淘宝。 一个月后，原淘宝"小时达"升级为"淘宝闪购"，由饿了么为其提供商品供给、配送运力及技术支持，并展示在淘宝App首页的一级入口。6月，阿里再将饿了 么、飞猪并入阿里电商事业群。 这不仅仅是一场"例行"年终大促，还是蒋凡回归并执掌阿里电商整整一年后，交出的首份年度答卷。 一年前，2024年11月，当蒋凡被任命为新成立的阿里电商事业群CEO时，他面对的是一个阿里巴巴联合创始人、董事局主席蔡崇信口中"落后了"的阿里。如 今，他带领核心团队——电商事业群发起了一场"奇 ...

Core Insights - Tmall achieved its best growth in four years during this year's Double 11, excluding refunds [4][5] - The strategic focus for Tmall in 2025 is on growth, emphasizing investment in consumers, quality brands, and new shopping scenarios [4][6] Growth Metrics - Nearly 600 brands achieved over 100 million in sales, with 34,091 Tmall brands doubling their sales year-on-year [4] - 18,048 brands saw growth exceeding three times, while 13,081 brands grew over five times compared to last year [4] - 406 new brands ranked first in trending categories, with 26 achieving over 100 million in sales [4] Consumer Engagement - The number of 88VIP members reached over 53 million, with daily orders from this group increasing by 31% year-on-year during Double 11 [5][11] - Tmall's retail orders from Taobao Flash Sale grew more than two times compared to last year [5] Strategic Adjustments - Tmall's management has shifted its focus from "platform sovereignty" to "ecosystem sovereignty," prioritizing support for quality brands and original merchants [7] - The "扶优策略" (supporting quality strategy) emphasizes the importance of original capabilities and innovation in products and brands [7][9] New Initiatives - Tmall's new membership system launched in August 2023 aims to cultivate a broader consumer base, with over 1 billion users in platinum and above categories [11] - Strategic partnerships, such as with Xiaohongshu, are aimed at enhancing traffic acquisition and integrating various platforms for better consumer engagement [12] Future Directions - Tmall is focusing on AI and instant retail as key growth areas, with significant investments planned for these sectors [13][15] - The integration of AI tools is expected to enhance user experience and operational efficiency for merchants [15] Performance Testing - Double 11 serves as a critical testing ground for Tmall's various strategies and initiatives, providing insights into their effectiveness [13][15]

Core Insights - The article emphasizes the transformation of the retail industry in China due to the integration of AI and the rise of instant retail, marking a significant shift in business rules and consumer engagement by 2025 [1][2][18] Group 1: AI Efficiency and Technological Integration - AI has significantly enhanced operational efficiency in the retail sector, with over 150 billion calls to AI models during the 2025 Double 11 pre-sale, leading to a 20% increase in transaction growth for products promoted through AI [3][4] - The introduction of AI-driven tools has allowed brands to achieve substantial growth, with 35 brands surpassing 100 million in sales within the first hour of the pre-sale [3][4] - The "AI-driven" strategy has been fully integrated into e-commerce processes, enhancing user experience and operational efficiency [3][4] Group 2: Strategic Shift to a "Big Consumption Platform" - Alibaba's transition from an "e-commerce platform" to a "big consumption platform" is a core strategic focus, integrating various services and breaking down barriers between online and offline experiences [2][18] - The new "Double 11" is positioned as a test for the "big consumption platform," showcasing the integration of AI capabilities and the enhancement of consumer experiences [2][18] - The launch of the "Flash Purchase" feature is expected to generate significant new business, with projections of trillions in added value over the next five years [18][19] Group 3: Support for Quality Merchants - Alibaba has implemented various initiatives to support quality merchants, including significant investments in promotional tools and the introduction of time-limited red envelopes to boost sales [9][10] - The platform's focus on high-quality supply and consumer experience aims to foster a healthy competitive environment, moving away from price wars [14][17] - The introduction of a new store rating system and real experience scores is designed to enhance visibility for high-quality merchants [11][13] Group 4: Financial Support and Risk Management - The platform has introduced a "fast payment" service with a limit exceeding 250 billion, allowing merchants to receive payments immediately upon shipment [14] - Enhanced risk management features have been implemented to protect merchants from fraudulent activities and ensure a secure trading environment [14][15] - The establishment of a credit system aims to improve order monitoring and preemptively identify potential issues [15][16] Group 5: Consumer Experience and Engagement - The new membership system integrates various services, providing consumers with a seamless experience across different platforms, enhancing engagement and loyalty [19][21] - The platform aims to meet consumer demands for rapid delivery, with solutions for same-day or next-day delivery being developed [21] - The focus on personalized consumer experiences through AI is expected to redefine shopping habits and increase customer satisfaction [21]

Core Viewpoint - Wuhan is emerging as a significant innovation growth hub in China, with its global research city ranking improving from 13th to 9th during the 14th Five-Year Plan period [1] Group 1: Company Developments - Major tech companies like Xiaomi, Tencent, and ByteDance have established a presence in Wuhan, creating a unique development landscape [3] - The Wuhan Alibaba Center, which officially opened on October 22, 2023, marks a critical step in Alibaba's deepening presence in Central China [3] - The Alibaba Center serves as the regional headquarters for Alibaba and houses multiple core business units, attracting over 40 leading industry enterprises [3] Group 2: Investment and Infrastructure - The total investment for the Wuhan Alibaba Center project is 5.5 billion yuan, with a total construction area of approximately 450,000 square meters [8] - The project consists of two office towers, standing at heights of 272 meters and 172 meters, along with an 110,000 square meter commercial complex [8] Group 3: Design and Functionality - The design concept, "AliCampus," aims to create a vibrant and inclusive work and living environment, breaking traditional boundaries between commercial and office spaces [8] - The architectural design draws inspiration from the traditional Chinese "Kongming lock," integrating high-rise office areas, commercial complexes, and rooftop gardens [10] - The distinctive orange staircases and sky bridges enhance the visual appeal and foster social interaction within the city [12] Group 4: Community and Government Support - The seamless connection between the office buildings and shopping center facilitates a convenient "work upstairs, live downstairs" model, addressing the younger generation's expectations for work-life balance [14] - The Wuhan government has demonstrated a proactive "shopkeeper" service spirit, actively engaging with corporate needs and positioning the project as a key component of the Wuchang Riverside Digital Innovation Corridor [16]