In the early hours of November 11, e-commerce platforms in China released performance statistics for Singles Day, the nation's largest consumer festival. Unlike previous years, companies refrained from highlighting their gross merchandise value (GMV) totals, a figure that had been a focal point during the event's peak popularity in the 2010s. This shift in reporting reflects a changing landscape in consumer behavior and market dynamics, as platforms adapt to evolving expectations and economic conditions. The decision to downplay GMV figures suggests a more cautious approach amid increasing competition and a focus on sustainable growth rather than sheer sales volume.
Original from TechNode.com: AI and livestreaming were the key drivers in this year’s Double 11, China’s biggest shopping festival
AI and livestreaming were the key drivers in this year’s Double 11, China’s biggest shopping festival
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