Video number brings goods by leaps and bounds

Video number e-commerce GMV exceeds 100 billion

Wechat video number station C is becoming more and more "full of hope".

Recently, according to the exclusive news of LatePost later,The total turnover (GMV) of WeChat video number e-commerce this year is around 100 billion yuan.. At the same time, Tencent will further expand the team of video number e-commerce business. It is understood thatThe WeChat payment team will also join the construction of video number e-commerceParticipate in the expansion and operation of various industry categories, talents and customers, as well as the construction of basic functions such as trading products.

It is worth mentioning that in the first two years, the video number never published specific data on e-commerce, emphasizing the growth rate. In 2021, the GMV with live video number increased by over 15 times. In 2022, the GMV of live video payment with goods increased by more than 8 times year-on-year.

This year, with specific data, the total turnover exceeded 100 billion, and the e-commerce business of video number realized running all the way and entered a new stage of growth. Nowadays, the addition of the WeChat payment team means that Tencent has increased the scale of manpower investment, and it also shows the company’s determination to further increase the video number e-commerce.

In the field of live delivery, the development momentum of video number is rapid. At the end of last year, Ma Huateng, the founder of Tencent, gave instructions on the development direction of video number, hoping to be closer to the transaction and make the e-commerce closed-loop.

What is certain is that,This year, the video number has accelerated the pace of layout of e-commerce.

In January, video number charged technical service fees to merchants at the rate of 1%-5%, which was similar to the commercialization of e-commerce in Tik Tok and Aauto Quicker. In July, the video number was officially launched in Daren Square to build a docking platform for Daren and the head of the delegation to help Daren quickly establish a supply chain with goods. In addition, the video number has also introduced relevant incentive policies to support talents and merchants to bring goods to further improve the e-commerce ecology.

Click on the video number, you can find that many official flagship stores have settled in, and start live broadcast with goods.

Video number Bee official, vitality Yili account Source: Video number

Platform drainage, WeChat adds a "commodity" tab in the navigation position at the top of the video number search, and adds a video number store commodity entrance in the search results page; In terms of user experience, the government requires that the products in the video shop with the price of 30 yuan and below must be mailed, even including Hong Kong, Macao and Taiwan, overseas and remote areas, and has also launched functions such as freight insurance and order encryption.

There are still many problems to be solved in video number.

At present, the commercialization of video numbers mainly focuses on advertising, live broadcast services and e-commerce. At present, the video number has grown into an important incremental market for Tencent commercialization.

In the third quarter of this year, the overall broadcast volume of video numbers increased by more than 50% year-on-year, and its advertising revenue also increased significantly. The growth of video number advertisement and its technical service fee not only promoted the optimization of enterprise service income structure, but also promoted the overall gross profit margin of Tencent.

Tencent Financial Report Video Number Data Source: WeChat Video Number Creation Camp WeChat official account

The video number was launched in 2020. After three years, the growth of the video number is in full swing. Last June, the number of monthly active users of video number surpassed that of Tik Tok, and it became the short video platform with the largest number of users. At present, the number of daily active users of WeChat video number is second only to Tik Tok, ranking second in China. However,Compared with Tik Tok e-commerce and Aauto Quicker e-commerce, video number e-commerce is still too small.

As far as short video content platform is concerned, Tik Tok e-commerce is firmly in the lead. According to market sources, in early 2023, Tik Tok set the GMV target at 2.3 trillion yuan. As of January-October this year, the e-commerce in Tik Tok has reached nearly 2 trillion GMV, with a year-on-year growth rate of nearly 60%.

The end of the year is the peak consumption season, and shopping in double 11 is greatly promoted. The GMV of Tik Tok Mall increased by 119% year-on-year. This year, Taobao cancelled the Double 12 and held the year-end Good Price Festival, while Tik Tok opened the 12-day "Double 12 Good Things Festival in Tik Tok Mall", which was in full swing. From this point of view, it is almost certain that Tik Tok E-commerce will achieve its annual target.

Tik Tok Mall Double 12 Good Things Festival Source: Tik Tok E-commerce

E-commerce in Aauto Quicker should not be underestimated. In the first half of 2023, the GMV of e-commerce in Aauto Quicker was 490.3 billion. According to the latest financial report data of Aauto Quicker, the total amount of e-commerce transactions in Aauto Quicker increased by 30.4% year-on-year in the third quarter, reaching 290.2 billion yuan. During double 11, the order volume of Aauto Quicker increased by nearly 50%, and the GMV of pan-shelves increased by over 160% compared with last year. This year’s Double 12, Aauto Quicker e-commerce is also not idle.

Last year, the GMV of e-commerce in Aauto Quicker exceeded 900 billion, and this year, it is estimated that the GMV of e-commerce in Aauto Quicker will enter the trillion scale.

In this way, the annual turnover of video number 100 billion is obviously not enough. Of course, the video number also said that this year is not in a hurry to pursue the large-scale growth of GMV. The first important task is to attach importance to the user’s product experience.

Short video platform with goods, content is the key to e-commerce. Compared with the huge user scale, the content stickiness of video number is still insufficient. Moreover, the short video content of the video number has beenNo mature ecology has been formed., the content type is relatively single and not rich enough.

In addition, the establishment of content ecology is inseparable from the creation of authors. Video number live broadcast with goods ecology lacks head anchors like Crazy Xiao Yang Ge and Aauto Quicker Simba, and there is no case of circle-breaking. The lack of original exclusive content of the creator is quite unfavorable to the video number in the competition.

It’s not enough to only have a content field. This year, both Tik Tok and Fast Torch are making efforts in the shelf field, linking with the content field to create a whole-field consumption scene and complement the e-commerce map. The shelf yard is still far from the video number e-commerce that just started. Video number alsoA perfect supply chain has not been establishedThere are many shortcomings in after-sales service.

The video number also needsFind your own platform positioning. Tik Tok Entertainment, Aauto Quicker Laotie and bilibili Eryuan all have distinct labels to attract users to open the software. In contrast, the video number is more like a "blank sheet of paper". There is also a question in the market: "Why do you need to brush the video number when you have Tik Tok Aauto Quicker?".

Users are trapped in silver-haired groups.It is also an undeniable fact. Liu Chiping, president of Tencent, said at the third quarter financial report meeting of Tencent in 2023 that there are still a large number of high-income groups among WeChat users who are not used to online shopping. Market participants pointed out that at this stage, the real high-viscosity users of video numbers are still middle-aged and elderly users. How to cultivate the habit of young people to brush video numbers and expand the scale of users is a big problem.

Live e-commerce has turned in an all-round way

This year is the year when the industry returns to low prices. Under the trend of consumption degradation,The trend of "reverse consumption" is gradually rising.. Consumers no longer blindly pursue brands and prices, but pay more attention to quality and practicality.

In November, Pinduoduo released its financial report, and its market value soared almost to Alibaba, which is a proof of the low-price strategy. Under such a trend,Live e-commerce has also begun to turn around in an all-round way, brewing a new change..

At one time, the head broadcast room was synonymous with low prices. Now, their credit in the hearts of consumers has been greatly reduced. As we all know, since the second half of this year, the life of Li Jiaqi, the first brother with goods, has not been easy. At first, Hua Xizi’s eyebrows were disputed, and later, he was accused of having a "floor price agreement", which seemed to fall into the whirlpool of negative public opinion. Not only that, crazy Xiao Yang Ge was also exposed to the "insurance agreement", and consumers gradually realized that there were many "catty" commodity prices in the live broadcast room of the big anchor.

And as a result,The store broadcast is on the top, and it begins to break out.. From the data point of view, it is the most obvious. During their stay in double 11, Tmall and JD.COM both emphasized the growth of store broadcasting. In JD.COM, as of November 11th, the cumulative number of viewers of the live broadcast of JD.COM has exceeded 320 million, becoming a new sales growth point. The dispute over the "bottom price agreement" of the super anchor seems to make brands and consumers realize that without the intermediate link of the big anchor, they can achieve low prices and achieve a win-win situation for both sides.

Users put forward higher requirements for the content of the live broadcast room.On December 6th, Xiao Yang Ge’s apprentice "Yellow at Traffic Lights" resumed live broadcast, and the result was banned after three minutes of live broadcast. Subsequently, the topic of "Xiao Huang’s live broadcast room was blocked for a few minutes" rushed to the top of the hot search.

I think everyone knows what happened. At the end of October, the remarks about Xiao Yang’s apprentice’s vulgar goods began to ferment. Subsequently, the crazy Xiao Yang’s live broadcast room was also found by netizens to have all kinds of vulgar goods. In November, China Consumers Association named Xiao Yang’s apprentice "Yellow at Traffic Lights" to bring goods in a vulgar way.

When the voice of doubt and dissatisfaction gradually rings, whether it is humor or vulgarity, the answer is self-evident. This also means that the way to attract audiences by judging ugliness and scratching the edge is doomed to be short-term. Competition is fierce, and high-quality content is the best weapon to achieve breakthrough.The live broadcast room needs to be innovative in content, legal and compliant, and attract users to achieve growth..

Live e-commerce ushered in a new trend, and the video number should also conform to the wave of the times.

In general, video number e-commerce is still in its early stage, with huge development space, and it is still an attractive blue ocean for the time being. However, the entire e-commerce market is moving towards stocking. For video numbers, there is still a long way to go to build a closed-loop business.

Author | Ally Li