Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Mass Returns on the Worst 11.11: 80% Return Rate for Every 100 Items Sold, Crushing Sales Figures" video.

  1. 💸 The Double 11 shopping festival in China has become more focused on returns and discounts, leading to declining interest and confusion among online shoppers. 00:23 The search volume for Double 11 has been declining since 2017, with this year's figure down 60% compared to last year. Over 80 million products were launched with price matching and a minimum 15% price reduction, but the multitude of discounts left consumers unable to calculate actual savings. Confusion about discounts led some consumers to ask their children for help in calculating the best deal. 📉 Small and medium-sized merchants struggled to earn profits during Double 11 due to competition for online traffic and rock bottom prices. 02:35 Online traffic dominated by large merchants and famous live streamers, forcing smaller merchants to invest in buying traffic. Tik Tok had no traffic due to competition from big live rooms and brand discounts on other e-commerce platforms. Investing in traffic becomes less profitable for small merchants as more merchants do the same. 💰 The popularity of China's Double 11 shopping event has declined due to the rise of new shopping channels and economic challenges caused by the pandemic. 05:31 New shopping channels like P DOA and Tik Tok live streams offer year-round low prices, reducing the appeal of Double 11. Some people blame e-commerce platforms for the economic downturn and express dissatisfaction with shopping culture. The economic recession and unemployment waves in China have led to tighter wallets and a shift towards frugal shopping. 📉 The job search has become difficult for young people and even government officials due to pay cuts and layoffs, leading to a decline in consumption. 10:24 Retail sales in the first 9 months of 2023 grew only 6.8% year-on-year, below pre-pandemic levels. The middle class is cutting back on non-essential spending and opting for more affordable products. Consumers are turning to cheaper alternatives, minimizing social activities, and participating in cashback activities.
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