Live e-commerce New Year’s Festival: Douyin, Kuaishou, and Video Accounts are “equally matched”

As the Spring Festival approaches, the New Year Goods Festival has become one of the major focuses of Internet platforms, merchants and consumers. In addition to e-commerce platforms, live e-commerce platforms such as Douyin, Kuaishou, and Video Number have also joined the army of preparations for the New Year Goods Festival.

As the Spring Festival approaches, the New Year Goods Festival has become the focus of attention for Internet platforms, merchants and consumers. As one of the most important sales activities, the New Year Goods Festival is also an important opportunity for platforms and merchants to expand their brand influence and increase sales. Therefore, major platforms and merchants are gearing up for the New Year Goods Festival.

After all, the success of the New Year Goods Festival is crucial to the performance at the beginning of the new year. Therefore, in order to better grasp the sales opportunities of the New Year Goods Festival and achieve better performance, in addition to e-commerce giants such as Taobao, JD.com, Pinduoduo, and retail players such as Hema Fresh and Dingdong Maicai, live streaming e-commerce companies such as Douyin, Kuaishou, and Video Number have also joined the army of preparations for the New Year Goods Festival.

1. Live e-commerce “reforms” the New Year Shopping Festival

With the continuous advancement of Internet technology and the increasing diversity of consumer habits, the live broadcast of the New Year Goods Festival has become a highlight of the e-commerce industry. As the most prominent players in the field of live broadcast e-commerce, Douyin, Kuaishou, and Video Account are particularly popular in large-scale shopping events such as the New Year Goods Festival.

For consumers, the live broadcast of the New Year Goods Festival is highly interactive and can greatly enrich consumers' shopping experience. With the continuous changes in consumer demand, the model of live broadcasting has become one of the most obvious trends in the e-commerce field in recent years. The live broadcast of the New Year Goods Festival not only allows viewers to learn about product details in real time through live broadcasts, but also allows them to get more personalized shopping suggestions through interaction with the anchor. In addition, the live broadcast of the New Year Goods Festival is often accompanied by interactive links such as limited-time discounts and red envelope draws, which also increases the fun and interactivity of shopping to a certain extent, thereby enhancing consumers' sense of participation and satisfaction.

For merchants, the Live New Year Festival provides an excellent platform to help them achieve sales growth. As a new sales channel, the Live New Year Festival can be said to be an excellent opportunity to test the brand influence of merchants and optimize their marketing strategies. Merchants can quickly increase their brand awareness and product sales by choosing to cooperate with suitable anchors. At the same time, the Live New Year Festival also provides merchants with a channel to communicate directly with consumers, allowing them to collect market feedback and consumer needs in order to better optimize products and services.

For the e-commerce industry, the Live Streaming New Year Goods Festival has broken the boundaries of traditional e-commerce and promoted the continuous innovation of e-commerce platforms and technologies. The Live Streaming New Year Goods Festival has demonstrated the huge potential of the live streaming sales model. It is the product of the combination of the e-commerce industry and Internet technology, and is an effective supplement to the traditional shopping model. As an innovation in the e-commerce industry, the Live Streaming New Year Goods Festival has injected new vitality into traditional New Year shopping, making shopping more vivid and real. It can be said that the Live Streaming New Year Goods Festival is an important driving force for the innovation and development of the entire e-commerce industry, and can have a profound impact on the entire e-commerce industry.

As the New Year Goods Festival approaches, a new competition drama has also begun, and the tension between major e-commerce platforms has become increasingly intense. However, even on the same road, different steps can be taken. When holding the New Year Goods Festival, Douyin, Kuaishou and Video Account each demonstrated their unique advantages and strategies.

2. Douyin is “unique”

As one of the most watched e-commerce events during this period, the New Year Goods Festival has successfully attracted the attention of countless consumers. Compared with traditional e-commerce, Douyin, a player represented by live-streaming e-commerce that has emerged in recent years, has not dared to slack off. In this grand event that combines shopping, entertainment and culture, Douyin has used its powerful platform capabilities to play a different game.

First, Douyin has provided real benefits to consumers through multiple full-reduction activities. Since the official start of the New Year Goods Festival, Douyin has set up a special "15% discount" venue area to provide consumers with super value and cost-effective New Year gifts. In addition, Douyin's "New Year Goods Festival" also provides multiple full-reduction coupons subsidized by the platform. While emphasizing the direct supply of good goods from factories, it also launched super value promotion strategies such as "Food Benefits China New Year 24.88 Capped New Year Gift Box". In addition to cross-store full reductions, super value purchases, and platform funding subsidies, Douyin's New Year Goods Festival also set up lucky draws, free orders, and North-South New Year Goods PK activities, so that consumers can get more cost-effective New Year goods.

Second, Douyin has helped merchants to continue to grow by giving them benefits. In this "New Year Goods Festival" promotion, Douyin e-commerce focuses on giving benefits to merchants. Douyin has not only set up New Year's goods fan coupons, New Year's goods flash sales, and New Year's goods newcomer areas, but also upgraded a number of products for merchants and influencers to better serve consumers. Douyin has also carefully planned a series of support policies for merchants, such as the Festival Alliance Plan, the Stellar Plan, and the Doudian Loan with unlimited interest-free for the first payment of early payment and 45 days of interest-free. These measures are all aimed at allowing merchants to gain greater benefits in this promotion.

Third, Douyin has set up a hometown New Year's goods venue to meet the needs of different user groups. Although the New Year is a time for the whole family to reunite, there are also many people who cannot go home. Therefore, Douyin has set up a hometown New Year's goods venue, which brings together special New Year's goods from all over the country, such as Beijing fried noodles with soybean paste, Shanghai pear paste candy, etc.; it also launched the "hometown people bring hometown goods" interactive gameplay, encouraging local creators and merchants to promote local high-quality New Year's goods. Through this activity, wanderers away from home can buy local specialties and agricultural products in the agricultural specialties New Year's goods live broadcast room, and out-of-town consumers can also buy more high-quality New Year's goods from other places.

3. Kuaishou “innovates”

The New Year Goods Festival, a shopping feast, has attracted many platforms to participate, and Kuaishou will naturally not miss it. Kuaishou's New Year Goods Festival has become one of the most anticipated e-commerce events on the eve of the Spring Festival every year, especially in the sinking market. Different from the New Year Goods Festivals of other e-commerce platforms, Kuaishou's New Year Goods Festival also shows its own characteristics with its unique market positioning and user base.

First, Kuaishou launched the "10,000-person group" gameplay to help merchants seize the sales opportunity. Merchants have always played a vital role in the New Year Goods Festival. Kuaishou launched a number of "10,000-person group" promotional activities during the New Year Goods Festival, and carefully selected high-quality goods with seasonal attributes, high value attributes, and low price attributes were delivered to live broadcast rooms, shopping mall shelves, short videos and other global business scenarios. Through the dual-domain linkage of content and shelf fields, the business opportunities of platform merchants are fully activated, helping merchants achieve both transaction and growth.

Secondly, Kuaishou proposed the concept of "good products at low prices", which effectively protected the interests of consumers. It is reported that the "2024 Kuaishou Mall New Year Festival" will launch the "Low Price Sale" channel, and the products in this channel will be labeled "Low Price Sale" in all channels, providing users with price-competitive low-priced good products in all-domain consumption scenarios, and strengthening users' awareness of the low prices of products in this channel. For example, during the Kuaishou New Year Festival, many different categories of popular New Year products such as Luzhou Laojiao, Chilean cherries, Supor floor scrubbers, iQOO mobile phones, Sulwhasoo gift boxes, Adidas sweatshirts, etc., all released low prices across the entire network during the pre-sale period, so that users can take the super-value New Year products home.

Third, Kuaishou launched the "pay if you buy at a higher price" gameplay, which effectively improved the platform's credibility. As major platforms reiterate the trend of "price experience", cost-effectiveness has once again become the focus of industry competition. This Kuaishou e-commerce New Year Festival launched new and special gameplays such as "pay if you buy at a higher price", which is another important attempt in the pursuit of cost-effectiveness. Kuaishou e-commerce's official exclusive guarantees such as genuine insurance for big brands, nine times compensation for fakes, and return shipping fees provide users with a high-quality and worry-free stocking experience. Kuaishou stores will also hold a "Boss's Strict Selection Special" during the New Year Festival, where all products will be compensated if they are bought at a higher price, so that consumers can buy with confidence without comparing prices.

4. Video Account "Steady and Steady"

With the successful holding of the New Year Goods Festival, live streaming e-commerce platforms such as Douyin and Kuaishou have highlighted their differentiation in the New Year Goods Festival based on their own characteristics, and Video Account will naturally not miss this opportunity to bring more traffic to itself. As an important part of the WeChat ecosystem, Video Account has also demonstrated its unique advantages and development potential in this annual event through its eye-catching gameplay.

On the one hand, the video account has launched a number of incentive policies to attract more merchants to actively participate. WeChat Video Account launched the "2024 Video Account Live New Year's Festival Promotion Incentive Plan" on the eve of the New Year's Festival to help brands, merchants and influencers achieve rapid growth during the New Year's Festival live broadcast. Specifically, WeChat Video Account has launched six major platform policies, including appointment coupons to issue traffic coupons, GMV target task traffic coupons, technical service fee reductions, list rankings, today's big coffee live broadcast rooms, and selected top 100 brands, to attract more merchants to actively participate in the New Year's Festival activities.

On the other hand, the video account continued to use the gameplay of Double 11 and Double 12, guiding more users to place orders. For this New Year's Goods Festival, the video account still continued the rhythm and gameplay used earlier in Double 11 and Double 12, and divided the live broadcast activities into two parts: the planting period and the formal period. During the planting period, merchants can release relevant warm-up short videos to guide users to make reservations for live broadcasts in advance, thereby locking in fans' consumption minds; during the formal period, experts can recommend selected New Year's Goods Festival products to fans through video account live broadcasts, guiding users to facilitate transactions.

In short, in this year-end promotion of the New Year Goods Festival, each platform has demonstrated its own innovation and strength. Whether it is Douyin, Kuaishou, or WeChat Video Account, through this live broadcast of the New Year Goods Festival, it has brought users a diversified and personalized shopping experience, and also provided merchants with a new shopping and marketing platform. However, even though this New Year Goods Festival is large-scale and comprehensive, it is only a phased event. If the live broadcast e-commerce platform wants to continue this popularity, it may take some effort.

Author: Liu Kuang, WeChat public account: Liu Kuang (liukuang110)