![]() This is clearly a defense against Douyin's initiatives in local services in the past years.Īlibaba this week announced that it would split up into six different companies, some of which might see IPOs in the future. It is also testing live-streamed product introductions in Shenzhen, to be rolled out country-wide later. Meituan is also introducing a new marketing tool, Shenqiangshou, that lets merchants launch limited-time deals. Meituan’s marketing expenses also increased 22.7% YoY, exceeding the growth rate of revenue (21.3% YoY). As a result, Meituan has been giving discounts on advertising prices. Meituan’s income from commissions increased by 13.7% YoY, but income from advertising dropped 4.8% YoY due to competition from Douyin. Merchants have been shifting advertising budgets from Meituan to Douyin. Last week 36Kr reported (link in Chinese) how Meituan’s Q4 report sheds some light on the impact. ![]() All rights reserved.Two weeks ago we published an extensive article about Douyin’s local services initiatives. Copyright © 2023 South China Morning Post Publishers Ltd. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. In July, Alibaba's Taobao and Tencent's hugely popular mobile game Honour of Kings announced an invitation-only competition, with the finals aired on live-streaming service Taobao Live in early August. A drop in China's consumer prices in July, the first in more than two years, has spurred Beijing on a daunting task to use every tool available in its toolbox to deflate chronic deflationary pressure and avoid the economic stagnation that had plagued Japan for more than a decade.Ī 1.7 per cent drop in food prices in August, compared with a rise of services prices by 1.3 per cent, indicated an uneven post-Covid-reopening economic recovery in China.Īmid uncertainty in the macroeconomic environment and rising competition from younger rivals such as ByteDance's domestic short-video sensation Douyin, Alibaba and Tencent have deepened their partnerships. Tencent Video, a streaming platform, has allowed direct links to Taobao since 2021.ĭo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.Īlibaba, owner of the South China Morning Post, and Tencent would also collaborate in the upcoming Singles' Day shopping festival, the largest annual online retail event in China, by investing millions of yuan in subsidies and boosting traffic together, Alimama said in a statement.Īlibaba and Tencent are both trying to navigate their way out of a slowing economy. WeChat Moments, a blogging feature, and mini-programs on the social media app already support advertisements linking to Alibaba online shopping sites. The two tech giants announced on Monday that "high-quality" advertisements placed on WeChat Channels, a short-video sharing platform, through Alimama Uni Desk, an Alibaba-affiliated digital marketing platform, can be connected to shops and live-streaming rooms on Taobao and Tmall. ![]() China's two biggest internet companies have tightened their collaboration, allowing users who click on advertisements on Tencent Holdings' WeChat to be directed to Alibaba Group Holding's Taobao and Tmall e-commerce platforms.
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