Monday, 2024 March 4

CHINA BRIEF | Kuaishou reports 500,000 new active merchants accounts as result of commercial push

Chinese short video app Kuaishou has announced Thursday that it has placed RMB 1 billion (USD 140 million) in subsidies to encourage merchants to use the platform as a marketing and sales channel.

As a result of the platform’s support to waive fees and provide preferential services, Kuaishou saw over 500,000 new active merchant from February 7 to March 31, local media Techweb reported.

The Beijing-based company initiated a campaign on February 7, allowing brands, merchants, and mid-and-small-business owners to create merchant accounts on Kuaishou for free, providing them with additional exposure in feeds of short videos, in an effort to help them offset the losses caused by the coronavirus pandemic.

Previously, a verified merchant account required to pay a yearly fee of RMB 600 (USD 85). Merchant account owners can sell goods via livestreaming, open online stores, send out coupons, and contact with customers directly on Kuaishou. In August last year, Kuaishou claimed to have more than 600,000 merchant accounts.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Wency Chen
Wency Chen
Wency Chen is a reporter KrASIA based in Beijing, covering tech innovations in&beyond the Greater China Area. Previously, she studied at Columbia Journalism School and reported on art exhibits, New York public school systems, LGBTQ+ rights, and Asian immigrants. She is also an enthusiastic reader, a diehard fan of indie rock and spicy hot pot, as well as a to-be filmmaker (Let’s see).
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