Core Insights - The 618 shopping festival has become less impactful, with consumers showing fatigue and the event being stretched over a longer period, leading to diminished excitement [1][10] - Despite a reported 15.2% year-on-year growth in GMV for major e-commerce platforms, the extended duration of the event has resulted in a less impressive performance when analyzed over a consistent timeframe [2][4] - Instant retail emerged as a significant growth area during the 618 festival, with platforms like JD and Meituan seeing substantial increases in user engagement and transaction volume [6][7] E-commerce Performance - The overall GMV for the 618 event increased by 15.2% year-on-year, but the extended duration of nearly 20% has skewed the perception of growth [2][4] - JD's app achieved a record high in daily active users (DAU), driven largely by its foray into the instant delivery market [6][8] - Instant retail platforms, including Meituan and JD, reported a 18.7% increase in transaction volume, outperforming traditional e-commerce channels [7] Consumer Behavior - Consumers are showing signs of fatigue towards frequent shopping festivals, with the 618 event now competing with numerous other promotional periods throughout the year [10][11] - The introduction of the "Red Cat and Red Jing Plan" aimed to attract users through content-driven marketing, but the effectiveness of such strategies is being questioned [3][11] Subsidy Impact - National subsidies have shifted from being auxiliary to becoming a central component of sales strategies for platforms like JD and Tmall, significantly impacting sales in categories like home appliances and electronics [8][10] - The depletion of subsidy funds has led to price adjustments, with some products being more expensive during the 618 event compared to previous months [10] Marketing Strategies - Tmall invested 50 billion yuan in cash incentives, focusing on live streaming and advertising to boost user engagement and sales [12][14] - JD's strategy included significant investment in its delivery workforce, which has resulted in a substantial increase in user numbers and order volume [13][14] - Douyin has emerged as a strong competitor, with its sales figures approaching those of JD, indicating a shift in consumer shopping behavior towards content-driven platforms [15][16]

正值"618"，想要"'618'补贴和国补同时享受"的消费者却发现，没那么容易了。 据媒体此前报道，多地家电"国补"由统补变为抢券补。与此同时，重庆、湖北等地包括家 电、家装厨卫"焕新"产品在内的消费品以旧换新"国补"出现暂停或调整的情况。 "国补"对于消费的带动作用十分明显。 据国家统计局最新发布的数据，1-5月份，社会消 费品零售总额203171亿元，同比增长5.0%。全国网上零售额60402亿元，同比增长 8.5%。其中，实物商品网上零售额49878亿元，增长6.3%，占社会消费品零售总额的比重 为24.5%。1-5月份，服务零售额同比增长5.2%。 家电"国补"还将持续 据新华网报道，记者6月9日登录京东APP平台，查看补贴资格领取和使用流程。在江苏家 电国家补贴专区，页面提示"因活动升级，家电品类国补资格暂时停止领取"。湖北专区提 示"智能家居国补活动升级中，升级期间暂时无法享受国补优惠，后续开启时间另行通 知"。类似暂停和调整的情况在重庆、河南、广东等多地出现。 记者还注意到，一些可领取补贴资格的地区，对领取时间和时效做了限定。比如，河北地区 每日8:30-22:00点限量领取；四川地区每日8:0 ...