That's a bit inaccurate (and outdated) on their part.
All the major platforms released overall sales data. Tmall was flat as they say, whereas JD had some moderate growth and Douyin had exponential growth. I'm sure I've posted on this earlier in this very thread. Credit Suisse should follow me on here and maybe they'd learn something
I do believe the emphasis is shifting away from events like 11/11 etc and towards less concentrated sales. It used to be that the event itself entailed pantry stocking resulting in lower sales for the period of either side of it. I think the unpredictability of Covid and lockdowns broke that pattern. But it is just a change in the timing of sales and not necessarily the volume.
However these events still matter, even if its just for the sheer spectacle and demonstration of who is on top in terms of market share. I think this year's 11/11 showed that A2 picked up a lot of market share from Abbott, which is a toxic brand now.
That's a bit inaccurate (and outdated) on their part.All the...
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