“In terms of communications from the platform companies around the festival, there’s been a shift away from celebrating excessive consumption and emphasizing gross merchandise value (GMV),” Jacob Cooke, CEO of e-commerce consultancy WPIC Marketing + Technologies said.
“The shift has been going on for a few years now, and that’s related to common prosperity, the anti-monopoly drive,” he added, referring to President Xi Jinping’s ongoing drive to curb the influence of big tech.