Tech Node: Bytedance Rival Kuaishou Launched New E-Commerce Feature

(Image Source: Retail in Asia)

Kuaishou is reportedly the second largest short video sharing app in China, a direct rival to Bytedance. The group saw a significant downturn in December, forcing them to lay off 30% of their workforce. Amidst fierce competition, it has made a new move to introduce a new e-commerce feature following the partnership with Meituan. 

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The Beijing-based company allows online retailers to sell their goods and services, ranging from food delivery to healthcare and entertainment. From 15 Jan, local merchants in 15 listed categories can set up their stores on the platform called Kwai Shop. Here they can manage online to offline services, converting customers’ attention to offline sales. 

In this early stage, Kuaishou gives full support to founding merchants with generous incentives. The platform will offer promotion plans up to $158 and viewership from 50,000 customers. American chain KFC, hotpot chain Haidilao, Meituan’s booking service and healthcare chain iKang are among the earliest brands to join the platform. 

In a recent statement shared with TechNode, Zhu Yunbo, Head of Kuaishou’s Local Life Service Unit, said:“The growth of the traditional in-store group-buying business model is slowing down, and merchants are in urgent need of new service models to attract users and to promote purchasing frequency.”

Source: Bytedance rival Kuaishou opens up e-commerce feature to local merchants.

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