Tuesday, 2024 March 5

KEY STAT | Short video app Kuaishou becomes fourth-largest e-commerce platform in China

Riding on China’s booming livestreaming e-commerce wave, short video app Kuaishou has seen online shopping orders generated on its platform exceed 500 million in August, reported 36Kr. 

The whopping orders made Kuaishou the fourth-largest e-commerce platform in China by total order volume in the past 12 months, after Alibaba (NYSE: BABAHKEX: 9988)’s Taobao & Tmall, JD.com (NASDAQ:JD; HKEX: 9618) and Pinduoduo (NASDAQ: PDD).

Boosted by the COVID-19 outbreak, livestreaming e-commerce in China is in its heyday. In July, Kuaishou claims to have more than 170 million daily active users (DAUs) on its livestreaming service—with e-commerce streaming sessions surpassing 100 million DAUs, KrASIA reported.

The Tencent-backed app has a 2020 sales goal of USD 37 billion in mind, whereas rival Douyin set a target of USD 29 billion.

More on Kuaishou’s livestreaming e-commerce business please read: Short video platform Kuaishou unveils ambitious new e-commerce targets amid livestreaming boom

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

Julianna Wu
Julianna Wuhttps://kr-asia.com
Data visualist & writer

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