The 4th Kuaishou 116 Shopping Festival is here!
What new ways will Kuaishou come up with this year's shopping festival? Regarding this question, Kuaishou has given the answer to a series of new ideas and new policies centered on "new additions and new prosperity" at the 2022 Kuaishou E-commerce 116 Merchant Conference held on September 29.
1. Another year is 116, Kuaishou e-commerce unlocks new gameplay
In the opening speech of the conference, Ye Heng, head of Kuaishou e-commerce user operations, determined the theme of this year's shopping festival as "focusing on new additions and creating new prosperity together." Under this theme, Kuaishou has released a series of new gameplay and new policies, which have made participating merchants feel excited. In fact, the two keywords "new addition" and "new prosperity" are also vivid portrayals of the development history of Kuaishou 116 Shopping Festival over the past four years. Looking back on history, the 116 Shopping Festival first started with the "116 Kuaishou King of Sales" event held by Kuaishou Platform in 2018. At that time, Kuaishou's e-commerce business was in its early stages, but this fashion event with a certain exploration nature achieved quite impressive results once it was launched: driven by a group of "popular people", Kuaishou's live streaming sales were amazing. A host with 40 million fans exceeded 160 million yuan in sales in just 10 hours. The Redmi 6 mobile phone sold 10,000 units in just a few seconds on the platform... The record set by the first event of
was soon broken in the second year. In 2019, Kuaishou officially positioned the promotion event on November 6 as the "116 Shopping Carnival" and began to carry out its own "festival creation" against Double 11. In this carnival, the platform not only continues the extremely popular list of the selling kings, but also launches a total list and a sub-list including eight categories, making the atmosphere of the creation of the solar term stronger; by 2021, the 116 Shopping Festival has penetrated into the minds of consumers and becomes a real shopping season for everyone. This year, Kuaishou established a new strategy of "building big brands" and proposed a business methodology on brand self-broadcasting, public domain traffic, distribution cooperation, private domain economy, and channel special supply development. The new strategy and methodology were verified at the 116 Shopping Carnival. During the entire event, the number of e-commerce merchants broadcasts increased by 52% year-on-year, the number of brand merchants broadcasts increased by 391% year-on-year, and the GMV of brand products increased by 433% year-on-year, and more than 4,000 brand merchants participated in 116 for the first time. At this point, Kuaishou's 116 Shopping Festival has become a benchmark node for brands and merchants to obtain new business growth and the entire Internet new economy to achieve new prosperity under the environment of Internet stock. It is widely regarded by the industry and consumers as a new "festival" that can be compared with traditional shopping activities such as Double 11 and 618.
Time enters 2022. Based on the strategy of "big brand development" last year, Kuaishou proposed the "four major developments" including trust e-commerce, fast brands, big brands, and big service providers. Standing at the new starting point of this new "four major developments" strategy, this year's 116 Shopping Carnival will focus on the word "new", emphasizing the use of new products to meet new needs. The series of policies and gameplay proposed by Kuaishou for this year's event are also focused on the word "new", aiming to create an environment for merchants that is more conducive to obtaining traffic, attracting new products and increasing sales. Looking at the policies issued by Kuaishou platform this year, there are two highlights: scenarios and incentives; while the gameplay focuses more on interaction.
First of all, in order to provide merchants with new traffic scenarios that are more conducive to operations than before, the platform has invested twice the previous boost traffic this year. New marketing activities will be held in the main venue of 116 and interactive gameplay will be launched, so that merchants can have a three-dimensional marketing site in the entire region. At the same time, the navigation Tab at the top of the Kuaishou APP will also bring hundreds of millions of traffic to the main venue; in order to make merchants more motivated, the platform has launched event merchant incentives throughout the entire cycle of the 116 Shopping Festival (September 28-November 11), including registration rewards, fan increase rewards, broadcast rewards and other multi-level incentives. On this basis, it also provides fan-pleasing live broadcast room, super subsidy officer, good origin anchors, anchor ranking competition and other scene incentives; and in terms of gameplay, this year, Kuaishou launched the "66 Shopping Fund" for the first time on the platform's universal full-salary coupon, and exclusive rights such as Kuaishou's high purchasing power users.During the water storage period of the big promotion, Kuaishou also launched a pre-sale gameplay "10,000-person bargaining group", where users can pay deposits to lock in popular top goods in advance. The more people deposit, the cheaper the goods. At this moment, new policies and new gameplay have been announced, and a large number of cooperative merchants are also ready to enter the market.
2. The new demand behind Kuaishou 116 Shopping Festival
It is worth noting that this year's 116 Shopping Festival, which is about to kick off, is not only an e-commerce provincial capital, but also an important node for the iteration and upgrading of Kuaishou platform's own business logic. For example, Ye Heng emphasized at the home conference that starting this year, Kuaishou will focus on "new traffic" as one of its operating priorities. The word "new" before traffic mainly refers to the platform's need to strengthen innovation in traffic distribution strategies. During this shopping festival, Kuaishou will change its previous practice of focusing too much on private domain traffic, and instead increase its operational efforts on the public domain side of traffic. This new traffic operation strategy is quite exciting for merchants. In the past, the traffic obtained by merchants on the Kuaishou platform mainly came from the "Follow" page, which belongs to a typical private domain traffic model. Although this model is conducive to the personalized operation of merchants, it is difficult to obtain sufficient support from Kuaishou's huge public domain traffic.
is precisely because of a profound insight into this limitation that Kuaishou decided to use a series of public domain traffic operations to allow more high-quality merchants to get more opportunities to reveal on the "Discover" page. With the support of huge public domain traffic, merchants can first complete users' new varieties, generate new purchase users and new scenarios, and stimulate new demands on a large scale. Then, through their own store broadcasts, guide fans to the store, carry out private domain traffic operations, realize sales and repurchase, and bring real new growth. In this process, the user's stay time will increase significantly, which in turn will improve the overall user stickiness of the platform and attract more new users to visit the Kuaishou platform through the user's reputation, thereby completing the complete cycle of traffic from the public domain to the private domain, and then returning to the public domain. This new traffic operation model is the "public and private domain dual-wheel cycle" that Kuaishou is actively guiding. On this basis, the platform will further launch the "Kuaishou New Product Super Plan": use the platform's resources to create 100 Kuaishou ecological new products with a GMV of over 100 million, and 10,000 new products with a GMV of over 10 million. The Super Plan will open up the entire link of new product marketing, helping merchants achieve the ultimate explosion of the entire new product through three steps.
From the industry situation, after the "public and private domain dual-wheel circulation" traffic strategy was announced, the enthusiasm of merchants to participate in the 116 Shopping Carnival has increased unprecedentedly. However, merchants should also note that although the platform provides them with a more favorable traffic environment, in order to achieve ideal operational results, merchants still need to focus on improving their "product power". As Ye Heng repeatedly emphasized at the conference, when merchants operate business in Kuaishou e-commerce, they must first talk about the cornerstone of "trust". Users' trust in merchants comes directly from "experience-price ratio". To this end, merchants must strive to provide users with more high "experience-price ratio" good products, continuously meet user needs, and thus achieve business explosion.
So, what should merchants do specifically to achieve product strength with a better experience-price ratio? At this conference, many business representatives who have achieved excellent business results on the Kuaishou platform gave a detailed explanation of this issue with personal experiences and lessons. For example, Chen Wei, the manager of the fast clothing brand MOMO ERA, pointed out, "As a new merchant or a new brand, at first, everyone has no understanding of everything about you, and everyone will judge the quality of the product through the product. In fact, on Kuaishou, it is actually from the product to the brand." She said that merchants should first attach great importance to "new products", and strive to expose more opportunities on the "discovery" page through high-quality, grasping the user's psychology, and "new products based on weekly units", so as to get the greatest support for the platform's public domain traffic operation. At the same time, we must continue to improve product quality and win absolute competitiveness with absolute product strength, so as to achieve a "two-way rush" between the brand and fans.The experience of MOMO ERA and many successful merchants is worth learning from!
3. In the fourth year of Kuaishou 116 Shopping Festival, it has become a big big in the e-commerce field IP
With the closing of the merchant conference, the thrilling fourth Kuaishou 116 Shopping Festival is about to begin. Looking back on the four years from 2018 to the present, Kuaishou 116 has been initially positioned as the "king of goods" in the short video and live broadcast fields to now becoming a shopping carnival for all categories of e-commerce promotions. Its evolution speed and efficiency have been highly praised by the industry. The Kuaishou platform itself has become a "old" e-commerce platform that has gone through 11 years. The progress of Kuaishou 116 is directly due to the improvement of the richness of merchants and product categories by the Kuaishou platform itself. From the perspective of merchants, the Kuaishou platform is no longer a place where "novice" merchants gather, but has grown into a large e-commerce platform with newbies, mid-level experts, and top celebrities. The business entities of platform e-commerce are becoming increasingly rich and layered. Taking brands/merchants as an example, there are mature brands, emerging brands, and "fast brands" that strive to show their strengths on Kuaishou. Supported by the full-link business solutions and professional service provider system created by Kuaishou E-commerce, these brands have also bid farewell to uncertain growth and have relatively standardized strategies and paths from cold start, climbing to jumps.
At the same time, the content ecosystem of Kuaishou platform is also becoming increasingly prosperous. In the second quarter of 2022, Kuaishou opened up the content ecosystem, Kuaishou Xingmang Short Drama launched hit short dramas such as "Remarriage" and "The Legend of the Ancient Snake", and stars such as Jackie Chan and Jay Chou and Jay Chou have launched exclusive live broadcasts. As of June 30, 2022, more than 2,000 celebrity accounts have entered Kuaishou, with an overall number of fans exceeding 1 billion. With the efforts of various merchants and the support of the content ecosystem, the product categories of Kuaishou platform are becoming more abundant and more attractive to users: the first-level categories of Kuaishou platform products now include clothing/shoes/bags, jewelry/clocks, sports outdoors, maternity and infants, and food, which almost cover all aspects of the current young generation's demand for food, drink and entertainment. As the categories continue to enrich, Kuaishou e-commerce's receivables have also accelerated. By the second quarter of 2022, Kuaishou's total revenue increased by 13.4% year-on-year to 21.7 billion yuan. At the 4th 116 Shopping Festival this year, these increasingly rich business camps and product categories covering the wide range of users’ needs will be launched to perform a more exciting carnival with the majority of users!
In fact, since the 116 Shopping Festival entered the preparation period, Kuaishou users have been looking forward to it and pay close attention to it. Considering that Kuaishou's average daily active users reached 323.3 million and the average monthly active users of 578.0 million, coupled with the boosted traffic invested by Kuaishou this year is twice that of previous ones, hundreds of millions of traffic are expected to flood into the main venue, and the impact of this shopping festival will be quite astonishing. Judging from the specific investment plan of Kuaishou Store 116 event, the investment category covers beauty and personal care, wine and beverages, jewelry, shoes and bags, daily necessities, various clothing, home appliances and food, etc. With such unprecedented investment efforts and platform appeal, many businesses have attracted to participate.
Starting from 2021, the continuous implementation of Kuaishou's "big brand development" and "big brand development" strategies has also caused greater attractiveness to merchants. Data shows that in 2021, the brand’s self-broadcast GMV will grow by 8 times this year, and the annual GMV of 61 brands exceeds 100 million. In the first half of 2022, the growth of brand merchants reached 479% year-on-year. Up to now, more than 1,300 industry-oriented brands have entered Kuaishou E-commerce, of which 162 brands have annual sales exceeding 50 million in the first half of the year. Supported by such excellent performance, merchant brands' enthusiasm for participating in the 116 Shopping Festival has increased unprecedentedly. Although the platform has not disclosed the specific number of merchants participating in the event, only judging from the earlier 616 Real Shopping Festival, the number of merchant brands that are eager to participate in the 116 Shopping Festival will likely increase significantly this year.
Kuaishou 116 Shopping Festival has become a big IP in the e-commerce field.
