Kuaishou’s e-commerce platform Kwaixiaodian announced on Sept. 16 that its e-commerce orders in August 2020 exceeded 500 million and its daily active users (DAU) surpassed 100 million.
Over the past year, the total number of accumulated orders of its e-commerce sector ranked fourth in the industry after Tmall, JD.com and Pinduoduo.
Kwaixiaodian recently launched its “116 investment and promotion plans” to further attract customer traffic, billion-yuan-level cash subsidies and red pockets, focusing on supporting high-quality yet second-tier sales livestreamers as well as boosting total sales volume. Kuaishou this year is also aiming to incubate 100,000 businesses.
The e-commerce strategy taken by Kuaishou is to only release the order volume but not GMV, which shows its focus on user growth. Livestreamers on Kuaishou can both sell products and feature their original content on the platform. 50% of the livestreamed content is displayed in its Local Content section, which more accurately recommends content to users, while the ratio is only 25% in this category on its rival platform Douyin. And the monthly sales of Kwaixiaodian in 2019 reached more than 10 billion yuan.
The Beijing-based Chinese video-sharing company is rumored to seek to list in Hong Kong as soon as this year with a target valuation of $50 billion, as reported by Bloomberg, Reuters and The Information.