购物节 (gòuwùjié): shopping festival

Per CC-CEDICT: 'shopping festival; large-scale promotional sales event (e.g. Singles' Day 双十一)'. China's e-commerce calendar runs on five anchor 购物节: 年货节 (January), 38妇女节 (March 8), 618 (June), 七夕/520 (variable), 双11 / 双12 (Nov-Dec). Together they account for the majority of yearly online retail volume.

grammar

购物 'shopping' + 节 'festival'. The 节 here is doing the same work as in 春节 (Spring Festival) or 中秋节 (Mid-Autumn Festival) — a calendrical event with shared cultural rituals, only here the rituals involve coupons and pre-sale deposits.