Kuaishou and Douyin both see e-commerce growth slow in first half of 2024: report · TechNode

E-commerce growth has slowed for China’s two major short video platforms, Douyin and Kuaishou, since the beginning of this year, local tech media LatePost reported on Wednesday. Nevertheless, the two content platforms have still enjoyed double-digit GMV increases of around 20% in recent months, according to the report, which quoted a source close to Kuaishou as pointing to the lack of significant expansion in its overall user base as the main reason that sales growth has dragged. Kuaishou is aware that too many advertisements could discourage short video viewers from placing retail orders in the app, said the report, with the company’s commercialization head Wang Jianwei also taking over the e-commerce business last November in an attempt to find the right mix of engagement and advertising. [LatePost, in Chinese]

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