Seventeen years after its debut, China's Double Eleven shopping festival no longer roars with the same frenzy of flashing deals and sleepless nights. E-commerce platforms are now focusing inward to optimize their operations with AI and instant retail. At the same time, they are expanding outward into global markets. The race has transformed from one about the loudest promotions to one about the most durable and efficient logistics. On the show: Niu Honglin, Steve & Xingyu