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During the 2025 618 shopping festival, the cumulative gross merchandise volume (GMV) of e-commerce platforms surged 15% year-over-year, hitting a remarkable 855.6 billion yuan. Notably, Alibaba and JD.com exhibited accelerated GMV growth rates, while Pinduoduo maintained a steady performance and Douyin's growth momentum decelerated. Marketing strategies pivoted towards promoting brand products with less aggressive discounts, and AI-driven tools emerged as key enablers for merchants to enhance operational efficiency. Looking ahead, Alibaba's consumer-to-merchant retail (CMR) revenue and JD.com's retail sales are anticipated to grow steadily. However, investments in the food delivery and online-to-offline (O2O) sectors could potentially squeeze profit margins.
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