Chinese short video giant Kuaishou pledges massive subsidies to fight Douyin, Meituan in local services race
- The Beijing-based company says it is offering incentives amounting to tens of millions of yuan for influencers to sell group-buying deals on its platform
- Local services offer a new source of growth for Chinese tech companies as some of their bread-and-butter businesses have plateaued, analysts say
The Beijing-based company said it was offering tens of millions of yuan in subsidies to help influencers boost their sales of group-buying deals on the platform.
The programme, announced at a corporate event in Shanghai on Thursday, is part of Kuaishou’s Flying Bird project, which aims to lift sales of its local services by tapping into its vast pool of popular short-video influencers.
Other support to be offered includes commission incentives, online traffic diversion, training sessions and upgraded online tools to help manage sales.
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“Through a series of investments, we hope to make it easy for influencers to operate, and motivate more short-video creators to join as influencers,” said Shi Chunxiao, an executive of Kuaishou’s local services business.
In China, local services describe the use of online platforms to offer offline consumer services, such as restaurant and hotel bookings, to internet users.