Hi folks, we are back with our weekly edition of China’s Digital Digest, wherein we would bring you weekly updates on China’s digital space. The report takes a quick glance at China’s complex and rapidly evolving social media landscape by providing updates on the latest happenings across the social media industry. Here are the major highlights of the report.
1. TikTok Launches New Anti-Scam Info Hub for Singaporean Users
TikTok’s taking more action to address scammers in the app, with the launch of a new scam prevention element within its “Wellness Hub” for users in South East Asia.
Launched in partnership with the Ministry of Home Affairs in Singapore, as well as the Singapore Police Force, the hub, at this stage, is specifically aimed at Singaporean users, and providing them with resources and knowledge to identify and avoid scams. This has become a much bigger element of focus for TikTok, as it continues to advance its in-app shopping push, with users in Asian markets now increasingly looking to make purchases in the app.
2. Kuaishou Raises Bet On Local Services, A New Arena For China Tech
Kuaishou Technology, operator of China’s second-largest short-video app, is doubling down on local services, as it competes with other tech giants for a stake in a rare growth market amid the country’s uneven economic recovery.
The Beijing-based company said it was offering tens of millions of yuan in subsidies to help influencers boost their sales of group-buying deals on the platform. The programme, announced at a corporate event in Shanghai, is part of Kuaishou’s Flying Bird project, which aims to lift sales of its local services by tapping into its vast pool of popular short-video influencers. Other support to be offered includes commission incentives, online traffic diversion, training sessions, and upgraded online tools to help manage sales.
3. Alibaba’s Revenue Growth Spurts As Economy Recovers From Pandemic Slowdown
E-commerce titan Alibaba Group Holding reported the biggest percentage growth in revenue in over a year as China’s economy continues to recover from the ending of strict zero-Covid measures.
Revenue reached 234.16 billion yuan (US$32.29 billion) for the three months to June 30, up 14 percent from 205.56 billion yuan a year ago, beating the consensus estimate of 223.75 billion yuan, and driven by “improvements across all business segments”. Net income rose 51 percent to 34.3 billion yuan under global accounting standards, better than the 27.3 billion yuan expected by analysts surveyed by Bloomberg.
4. Taobao to Arm Apparel Retailers With AI Technologies
Alibaba-owned e-commerce platform Taobao has unveiled two AI-powered tools: “AI-assisted outfit pairing” and “AI fitting room” designed for its apparel merchants. The announcement was made at the 2023 Taobao Fashion New Force Week Press Conference which was held in Hangzhou on 10 August.
On top of revealing the seven 2023 Autumn/Winter fashion trends, which are “Sweetheart Barbie Style, New Vintage, New Chinese Clothing, Fashionable Bookworm, Lightweight Outdoors, Street Dopamine, and Quiet Luxury Style”, Taobao also introduced three schemes that will aim to drive growth for retailers in the fashion clothing sector.
Included is “Business Opportunity Support” which will present trend predictions and insights analysis for businesses; “Ecosystem Support”, which will help merchants to expand their digital channels by leveraging Taobao’s own assets such as Taobao Live (Taobao’s live stream arm) and Taobao Alliance (a marketing solutions service provider); and “Retail Support”, which is set to incubate 10,000 new merchants that will hit the one million RMB GMV threshold in the following year.
5. Douyin Boosts Self-Operated E-Commerce with Launch of ‘Imported Supermarket’
A new store called ‘Douyin Imported Supermarket‘ has officially opened within the Douyin app recently. It is reported that this is a cross-border e-commerce business under the Douyin e-commerce platform, mainly focusing on self-operated operations.
Due to the opening of a new store, there are currently 25 items available on the shelves of Douyin Imported Supermarket. The products include face masks, cleansing patches, eye patches, and more. It is possible that more types of products will be added in the future. The import tax of the goods has already been included in the price of the products. They are sent from domestic comprehensive bonded warehouses, inspected by mainland customs, and then delivered to consumers.
Wrapping Up
The vast and diverse nature of the Chinese Social Media space makes it incredibly challenging to keep a tab on the rapid developments taking place. However, China’s Digital Digest brings you all the latest updates from there to keep you abreast of all the evolving trends.
To delve deeper into the findings of the August report, click here.