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Double Eleven
Double Eleven Shopping Carnival refers to the online promotion day on November 11 every year. It originated from Taobao Mall (Tmall) on November 11, 2009. The number of merchants participating in the online promotional activities and the promotional intensity were limited, but the turnover far exceeded expectations.
November 11th has become a fixed date for Tmall to hold large-scale promotions. Double Eleven has become an annual event in China’s e-commerce industry and has gradually affected the international e-commerce industry.
On October 27, 2021, the Information and Communications Administration Bureau of the Ministry of Industry and Information Technology disclosed that the ministry has held an administrative guidance meeting to regulate the "Double 11" SMS marketing behavior of e-commerce platforms, requiring e-commerce platforms not to do so without the consent of consumers. or request unauthorized marketing text messages. ?On November 8, Xinhua Finance and Suning.com released the "Double Eleven" Household Consumption Upgrade Report.
Double 11 in 2021, a new change is: more and more factories choose to launch new products on Double 11. The direct supply model not only brings new opportunities to the upgrading and transformation of industrial manufacturers, but also It fully meets the needs of more and more consumers who pay attention to cost performance.
Social Evaluation of Double Eleven
In the current context of increasing downward pressure on the economy, the "Double Eleven" shopping carnival has witnessed surging passenger flow and extremely large single-day transaction volume. It shows the people's strong willingness to consume and their high spending power, which is undoubtedly a positive signal for stimulating domestic demand.
The counter-trend "blowout" of e-commerce demand reveals the huge potential of China's online consumption, which is a confrontation between traditional retail formats and new retail formats. Alibaba Group CEO Jack Ma believes that the "Double Eleven" shopping carnival is a signal of China's economic transformation and a battle between new marketing models and traditional marketing models.