On November 14, financial news revealed that during this year's Double 11 shopping festival, Taobao and Tmall launched a "National Interest Subsidy" product section. Driven by the national subsidy policy, platforms and merchants increased subsidies, offering consumers over 100 million interest-free installment products via Huabei.

Data shows that after applying the national interest subsidy policy to interest-free installment scenarios, consumer potential was effectively unleashed. During Double 11, the average installment spending per capita increased by 18% compared to September, indicating greater consumer willingness to spend.

The national interest subsidy has benefited more ordinary consumers. Since September, the "Implementation Plan for Fiscal Interest Subsidy on Personal Consumption Loans" has been implemented, reducing residents' consumer credit costs through fiscal subsidies at the national level.

During Double 11, Taobao and Tmall's "National Interest Subsidy" section allowed consumers to enjoy Huabei interest-free installments without paying any interest, thanks to combined subsidies from the national policy and platform merchants. The high exposure during the promotion attracted more consumers to the subsidy policy, with 65 million visits to the section since its launch on October 30.

Data indicates that the number of consumers benefiting from the national interest subsidy during Double 11 increased by 19% compared to September. Nearly 2 million consumers who had never used interest-free installments before tried this benefit for the first time.

Multiple parties collaborated to leverage consumption growth. With national fiscal funds subsidizing consumers, merchants allocated budgets to offer more interest-free installment products and extended installment periods. Many brands experienced a noticeable boost in sales.

For instance, Bosideng Group reported that 97.8% of its products priced above 100 yuan supported interest-free installments, accounting for 12.7% of total payment volume. High-end cat food brand Feline Natural, which ranked first in Tmall's cat food category, saw a 37% year-on-year increase in orders paid via interest-free installments.

Brands offering store-wide interest-free installments saw even more significant growth. A leading solid wood furniture brand, for example, reported an 80% increase in installment sales and a 20% overall sales boost. Similarly, a well-known robot vacuum brand achieved a 90% rise in installment sales and over 30% total sales growth.

Some brands that previously rarely used interest-free installments began offering them this year under the national subsidy policy, resulting in substantial gains. One domestic appliance brand saw a 67% increase in total sales and a fourfold jump in installment sales.

Merchants noted that consumers are more budget-conscious this year, with significantly higher adoption of interest-free installments. A professional skincare brand hit 100 million yuan in sales within the first hour of presales, with installment payments doubling compared to last year.

Wang Zengwu, Deputy Director of the Banking Research Office at the Chinese Academy of Social Sciences, emphasized that the recent 15th Five-Year Plan proposal highlights the importance of "vigorously boosting consumption." The successful application of the national interest subsidy during Double 11 demonstrates an effective combination of top-level policy design and market-driven mechanisms, creating a win-win scenario for all parties involved.