F2F Class Notes (Mike)

Chinese e-commerce platforms adopted a more muted approach to the shopping festival this year, partly in response to increased regulatory scrutiny of their business practices and what regulators termed “barbaric growth” strategies. But if anything, this has only made the festival more important to their futures, as platforms are forced to abandon anti-competitive policies that allowed them to squeeze merchants. Even officials have an incentive to keep enthusiasm for the festival alive after China’s retail sector reported sluggish sales numbers this summer.

One simple explanation for consumers’ disinterest is that we’re all simply tired of the platforms’ games. For years, many of the discounts associated with the festival have existed only on paper; in some cases, they’re price hikes. For example, a wireless speaker I had my eye on was listed as on sale this year despite costing significantly more than it did just six months ago. I suppose it’s possible that the company is just an innocent victim of the global chip shortage, but similar mysterious price spikes happen just before every Double Eleven.

Vocabulary

Monopoly Law 垄断法

Monopoly 大富翁

shopaholic (adj.) 购物狂
workaholic (adj.) 工作狂
alcoholic (adj.)  酗酒，酒鬼
alcohol (n) 酒精

influencer 有影响力的人/网红

consuming habits 消费习惯

brick and mortar 实体的

instant gratification 瞬时满足感

severe – fierce – intense 紧张的，强烈的，激烈的

undergraduate – bachelor – undergrad 本科

postgraduate – master –  postgrad 研究生

tier-2 city  2线城市

views on spending 消费观

upbringing (n) 成长，养育

they will take an offer that attracts them the most
they will take the most attracting offerWork
fulfillment满足感，meaning, overtime, salary, future , working hours

value system 价值体系
to broaden one’s horizon 开眼界

the birth rate in China is in decline
the birth rate in China has dropped