08/11/2022
Taobao and TikTok complement each other
Taobao has put forward a new core strategy, which is from transaction to consumption. In addition to focusing on maximizing the efficiency of existing traffic, it is also necessary to build a discovery site for user consumption, so that consumers who do not have clear shopping needs can obtain professional and diversified advice, so as to form new consumption decisions. This requires transforming live streaming from the current traffic consumption field into a traffic creation field, integrating content and consumption on the platform.
According to a report by LatePost, TikTok currently distributes 7%-8% of the traffic to e-commerce, including short video content with a small yellow cart (shopping cart) and e-commerce live broadcast rooms. Combined with data such as traffic ratio and user purchase behavior, the GMV ceiling of TikTok live e-commerce is about 2-3 trillion yuan. According to estimates, TikTok e-commerce is expected to reach a turnover of 1.5 trillion yuan in 2022. The need for a balance between commercialization and user experience means that the traffic and resources that TikTok can ultimately share with e-commerce is limited.
According to CCTV Market Research (CTR) information, the monthly active number of mobile Internet users in China reached 1.36 billion in June 2022, a year-on-year increase of 4.6%, and the growth rate further slowed down; the average monthly usage time of users was 218.1 hours, an average of nearly 7.3 hours per day. These data are all at a high level, and it is difficult to achieve more growth.
At this stage of live streaming, the blue ocean crowd has basically disappeared. The users of each brand have a high degree of overlap, but the traffic structure and user mentality of each platform are different. For brands to take advantage of the Double 11 promotion, they not only find new growth points, but also need to prove their flexibility.
