Kuaishou Merchants Record 5 Times Growth in June Shopping Festival

Consumer Staples Author: Yiru Qian Jun 21, 2022 06:21 PM (GMT+8)

The young generations remain the main force of purchasing.


China's short video social platform Kuaishou Technology (1024:HK) released the sales data for its third 616 shopping festival on June 20, the gross merchandise volume (GMV) of brands up 515% from last year.

Among which, Xiaomi (1810:HK), pre-prepared seafood brand Tianhaizang (Chinese: 天海藏) and sportswear XTEP (Chinese: 特步) were the top 3 brands in GMV ranking, while cosmetic brand HEXZE (Chinese: 韩熙珍), down jacket specialist Yalu (Chinese: 雅鹿) and OPPO have witnessed the largest increase in popularity.

The beauty, fresh food, digital home appliances, idle items as well as entertainment sector all broke this year's daily sales records during the promotion period.

The number of merchants served by the service providers also increased by nearly 40% compared to last year, contributing to around 60% of the GMV of the promotion.

According to Kuaishou's announcement, over 18 million consumers placed orders during the promotion period for three consecutive years. The proportion of post-90s and post-00s buyers grew significantly, with the latter group increasing by 47.97% year-on-year.

Previously, JD.com revealed its performance with a shining figure; while Kuaishou's other competitors, like Douyin, didn't disclose specific data.