In the past, shopping on #SinglesDay (11-11) meant going to #Taobao by default. Perhaps a quick check of #JD for some.
But this year… #consumers have completely new #choices. Kuaishou and Douyin – China’s top video apps – have entered the game. They own a lot of #traffic and have stand-alone #ecommerce platforms.
#Livestream is the name of the game this year and #Alibaba is ramping it up. Livestream only contributed to 10% of GMV on 11-11 last year. This year, they’re pouring in #resources to push that number up as livestream has become mainstream.
#Douyin and #Kuaishou aren’t playing around either. Both of these platforms set very high sales targets for livestream & video sales in 2020… and all the action is planned for November.
During the 1st half of the year, Kuaishou hit about $14B out of their target $37B GMV #target for 2020. Douyin only hit $6B during the first half of 2020 while aiming to sell $23B worth in the second half of this year.
That’s 65% – 80% of the year’s target all planned for the second half of the year. There’s no #Christmas or #Thanksgiving shopping in #China. Everything will happen on 11-11.
Do you think Kuaishou & Douyin can put a dent in Taobao Live’s #marketshare?