BEIJING, June 12, 2019 /PRNewswire/ -- Kuaishou Technology, the developer of Kuaishou, one of the world's leading short video social platforms boasting more than 200 million daily active users, is featured in two trends within the 2019 Internet Trends Report by Mary Meeker, Founder of Bond Capital and former Kleiner Perkins investment partner.
The section dedicated to China from the 2019 Internet Trends Report, provided by Hillhouse Capital, reports on the continued popularity of the short-form video formats. While short-form video is projected to grow to 600 million daily hours spent this year, Kuaishou is featured as one of the two largest short-form video applications in terms of daily usage. In a separate trend by Hillhouse Capital, Kuaishou is showcased as an original example of a new and emerging livestreaming-cum-e-commerce trend in China, where livestreaming apps are rapidly evolving into shopping destinations.
According to the Internet Trends Report, selling products through livestreaming platforms like Kuaishou increases transparency, fosters high influencer engagement, and interactivity between viewers and the livestreamers.
While most e-commerce platforms that are simply a website with a few product photos, are neither engaging, nor easy to trust, livestream viewers can engage with livestreamers to ask questions or learn about why the product is being sold or why the product would be relevant to the viewer's lifestyle. In turn, trust is fostered as viewers are able to put a face to a seller.
Through this new e-commerce format, Kuaishou has driven tens of million of orders during China's peak shopping days including "Double 11" (Single's Day) and "Double 12," representing hundreds of millions of RMB in transactions.
Fueling this trend has been the result of an organically growing demand from users for an engaging social commerce experience, and readily being fulfilled by Kuaishou's livestreamers. While most livestreamers have gotten their start on Kuaishou by simply sharing their day-to-day life, exotic scenery, or talents, many have found themselves with an entrepreneurial opportunity, often at the behest of their viewers.
According to research from Kuaishou's developer, Kuaishou Technology, the trend had been born from livestreamers that are often asked by viewers about products and produce seen growing in the background during a livestream. Or viewers will request products to be built or sold using the livestreamer's unique talent. And requests such as these will often evolve into an ecommerce business opportunity that leverages viewer traffic from the Kuaishou platform to sell their own goods, and even goods from their neighbors or friends as well.
For instance, Kuaishou user "Taste of the Mountain Village" hails from a rural village in Jiangxi province, China. Known as a comedic cosplaying mukbang livestreamer with 1.6 million followers, his e-commerce foray began when viewers would request that he use his comedic talents sell products local to his village including tea and kudzu. By leveraging his visibility on Kuaishou, he now not only sells his own products along with those harvested by neighboring villagers, but even promotes tourism to his village.
About Kuaishou Technology
Founded in 2011, Kuaishou Technology is the developer of Kuaishou, one of the world's leading short video social platforms boasting more than 200 million daily active users. Led by Founder and CEO, Su Hua, Kuaishou Technology is on a mission to increase every individual's happiness through big data and A.I. technology and fueled by the belief that everyone's lives are worth chronicling.
Through the sharing of short videos, photos and livestreams, Kuaishou is designed to shine the limelight on the often overlooked, yet diverse and down-to-earth communities of people in China. Since its launch, Kuaishou has grown to become China's largest life sharing platform with 15 million pieces of user generated content created everyday, 350 million daily likes, and boasts an archive of 10 billion original short videos.
SOURCE Kuaishou Technology