Kuaishou, Douyin predict e-commerce growth to slow in H1 2024: report TechNode

E-commerce growth has slowed on China’s two major short video platforms, Douyin and Kuaishou, since the start of this year, local tech site LatePost reported on Wednesday. Nevertheless, both content platforms have continued to enjoy double-digit GMV growth of around 20% in recent months, according to the report, with a source close to Kuaishou citing a lack of significant expansion in its overall user base as the main reason for the slowdown in sales growth. Kuaishou is aware that too many ads can discourage short video viewers from placing retail orders on the app, the report said, and the company’s commercialization chief Wang Jianwei also took over the e-commerce business in November last year in an attempt to find the right mix of engagement and advertising. (LatePost, in Chinese)

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