Short video platform Kuaishou unveils ambitious new e-commerce targets amid live-streaming boom
- Kuaishou plans to incubate 100,000 businesses and help them achieve US$146,000 in annual sales within the year
- It also wants to groom 10,000 live-streamers and host over 1 million e-commerce live-streaming sessions during this period
The Beijing-based company is also going to build over 100 industrial bases around the country, groom 10,000 live-streamers and host over 1 million e-commerce live-streaming sessions during this period, it added.
There were over 10 million e-commerce live-streaming sessions in China attracting more than 50 billion views in just the first half of the year, according to China’s Ministry of Commerce.
Kuaishou first attempted to squeeze into the already competitive e-commerce market in China two years ago with the launch of Kuaishou Shop, a sales platform within the short video app. Currently, there are over 100 million daily active users for its e-commerce services, with those from first and second-tier cities accounting for 45 per cent, the company said in the press release.
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While their roles in these partnerships have primarily been as sales channels allowing short video app users to purchase products from e-commerce platforms without leaving the apps, Douyin and Kuaishou have both been moving to expand into the lucrative business.
(Alibaba is the parent company of the Post.)