21st Century Business Herald reporter Bai Yang reported from Beijing
This year's 618, less noisy, but still lively. Traditional e-commerce platforms continue the consistent style of big promotion, and live e-commerce has become more and more mature after several years of evolution.
A senior person in the e-commerce industry told the 21st Century Business Herald that now, the industry's positioning of live e-commerce has been very clear, which is a supplement to traditional shelf e-commerce under the new consumer trend. The rapid growth of Douyin e-commerce and Kuaishou e-commerce also proves that live e-commerce is further releasing the needs of consumers.
During the 618 period this year, Douyin E-commerce launched the "Douyin 618 Good Things Festival", Kuaishou continued its "Kuaishou 616 Shopping Festival", and the video number joined for the first time, opening the "6.18 Video Number Live Good Things Festival". In this year's e-commerce war, live e-commerce is reluctant to be absent, and behind different incentive policies, live e-commerce is showing different development paths.
Keywords of the war report: vibrato "global", Kuaishou "trust"
According to the 618 war report released by Douyin E-commerce, during the Douyin 618 Good Things Festival (June 1 to June 18), the total live broadcast of Douyin e-commerce was as long as 40.45 million hours, the short video of the trailer was played 115.1 billion times, the number of live broadcast rooms with turnover exceeded 10 million reached 183, the number of brands with transaction volume exceeded 10 million reached 758, and the cumulative number of new customers who placed orders increased by 20% month-on-month.
Among them, the number of users visited by Douyin Mall during the event increased by 115% month-on-month, driving sales to increase by 514% year-on-year, and search scenarios to drive sales increased by 293% year-on-year.
On the eve of the launch of the promotion campaign, on May 31, Douyin E-commerce announced that it would upgrade its "interest e-commerce" to "global interest e-commerce". The so-called global means that on the basis of short video and live broadcast content, more e-commerce scenarios such as shopping malls and searches have been added.
In order to further promote users' consumption in the global e-commerce scene, Douyin E-commerce also launched preferential benefits for consumers such as shopping red envelopes in live broadcast rooms, mall spikes, and cross-store full reductions during the event, in addition to the incentives on the merchant side.
In particular, "cross-store full reduction", a more common subsidy promotion method of traditional e-commerce platforms, rarely appeared in the past live e-commerce platforms. The launch of Douyin e-commerce is to allow consumers to experience the shopping cart mode of shelf e-commerce in Douyin Mall.
On the other hand, the 616 data report released by Kuaishou E-commerce shows that as of June 14, during this year's Kuaishou 616 Shopping Festival, the total number of trust purchase business covers more than 400 million orders, more than 520,000 anchors provide consumers with at least one trust purchase service during the promotion, and more than 74 million consumers are protected by trust purchase.
From June 6 to June 8, Kuaishou E-commerce held a special marketing session on the Trust Day for three consecutive days, during which Kuaishou E-commerce held a total of 53 trust theme live broadcasts, with a cumulative GMV of 88.39 million, a cumulative increase of 402,000 fans, and a cumulative field view of 108 million.
In terms of brands, according to Liu Lang, the head of Kuaishou e-commerce products, the number of merchants participating in the shopping festival this year is 8 times that of last year's 116 promotion activities.
Since last year, after Kuaishou E-commerce clearly put forward the "big deal" strategy, the operation idea of the entire business has become very clear. In May this year, Kuaishou E-commerce announced that its business strategy for 2022 will be upgraded to "engage in trust e-commerce, engage in fast brands, engage in brands, and engage in service providers".
The "616 Shopping Festival", Kuaishou focuses on the theme of "real", provides tens of billions of traffic and 2 billion user rights subsidies, the goal is to help merchants achieve "revenue + powder", which is also in line with the "big deal" strategy of Kuaishou e-commerce.
Public domain PK private domain
Soochow Securities pointed out in a research report that the rise of live e-commerce is similar to Pinduoduo in two points: First, the cost of traffic acquisition is low; Second, in the process of traffic distribution, the homogeneous demand is gathered and the homogeneous supply is matched.
In the past few years, the rapid development of short videos has made Douyin and Kuaishou a depression in Internet traffic. E-commerce is essentially a traffic business, and the vibrato and kuaishou that have mastered the traffic naturally have the capital to develop the e-commerce business.
However, the traffic of the short video platform is accumulated by short videos and live broadcast content, and e-commerce is only a way for the platform to monetize the traffic. Therefore, Douyin and Kuaishou are willing to distribute traffic to the e-commerce business, but they cannot be completely tilted, and they still have to pay attention to the user experience, because this is the key to determining the sustainable development of the platform.
In terms of traffic distribution, Douyin and Kuaishou present two different models, the former focusing on the public domain and the latter emphasizing the private domain. This difference is fed back into the e-commerce business, which is that Douyin e-commerce pays attention to the conversion rate, and Kuaishou pays attention to the repurchase rate.
Soochow Securities believes that Douyin's "interest in e-commerce" and the distribution of traffic between live broadcasts are emphasizing the conversion rate of short video users to e-commerce users, which is also one of the reasons for the high monetization rate of Douyin advertising.
However, although this centralized public domain traffic distribution can maximize the conversion rate of traffic, it allows users to follow the goods, rather than follow the anchor and live broadcast room, so it is more difficult to precipitate private domain traffic and improve the repurchase rate.
The "trust e-commerce" proposed by Kuaishou emphasizes the high repurchase rate under private domain traffic, so that users can buy and repurchase behavior because they trust the anchor.
At present, if you compare the two e-commerce development paths of Douyin and Kuaishou, you will find that the efficiency of Douyin is higher, but the precipitation of Kuaishou to users will release longer-term value. Douyin may also be aware of this problem, so it put forward the concept of global interest in e-commerce, through the power of e-commerce malls, so that the conversion of public domain traffic is no longer limited to live broadcasting.
Along the above logic, it will be found that the first time you join the 618 video number, you also began to seek to monetize the traffic through e-commerce after accumulating a certain amount of user traffic. However, unlike Douyin and Kuaishou, the video number is based on the WeChat ecology, which can have strong linkage capabilities with public accounts, enterprise WeChat, and mini programs, so the strong connection on the private domain is the advantage of the video number.
During the 618 period, the video number launched a support policy based on public domain traffic, at this stage, further mining the public domain traffic dividend is the main strategy for the video number to attract businesses. Compared with Douyin and Kuaishou, the video number is just starting out to do live e-commerce, and there are many people who need to make up lessons, but in the future, once the public-private domain linkage capability based on the WeChat ecology is consolidated, the power of the video number cannot be underestimated.
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