Weixin, Tencent’s popular social platform in China, has expanded its ecosystem last year with strong growth in channels (video accounts), according to its annual flagship event, Weixin Open Class PRO 2023.
According to Weixin, Weixin Channels made new strides last year by increasing the number of services and content for businesses and consumers. Since our internal beta testing on January 21, 2020, we’ve seen significant user engagement. With the ability for anyone to record, create and share videos, total user time has exceeded his 80% on Moments. Asynchronous photo, video, and audio sharing.
Total views on Weixin Channels increased by more than 200% year-on-year, and AI-recommended video views increased by more than 400% year-on-year. Daily active creators and video uploads on the channel increased by over 100% year over year. The number of creators with more than 10,000 followers, viral videos with more than 100,000 likes, and views of original videos surged 308%, 186%, and 350% year-over-year, respectively. In the live streaming section, the number of users, hours watched, number of creators with quality content, and hours spent broadcasting increased by 300%, 156%, 614%, and 83%, respectively.
Channels now support features such as long video formats, dynamic soundtrack editing, live streaming, live streaming e-commerce, quick sharing, product window on homepage, etc., expanding Weixin’s huge user base for engagement with consumers. More and more merchants and brands are using .
Live streaming e-commerce on Channels has continued to grow rapidly over the past year, with Gross Merchandise Value (GMV) increasing by over 800% from 2021, with an average transaction value of over 200 RMB (29.5 USD).
This growth is primarily driven by an improved shopping experience with live streaming, an enhanced enterprise management toolkit to optimize supply chains, and an improved continuous service system to enable joint growth with merchants and service providers. promotes it.
Private domain transactions continued to contribute to the majority of Weixin Channels’ online transactions. More brands and influencers have chosen to use the channel to connect with community members and followers of his Weixin public account. This has allowed us to increase our private domain traffic and move towards sustainable and stable business operations.
Promote growth of the real economy
Such trends have underpinned Weixin’s impact on China’s real economy. Since 2020, the number of Weixin Mini Programs has surged by 183%, with widespread application in tourist attractions, hotels, air travel and other fields.
According to Industry Resilience and Recovery Potential Report 2023 presented by Weixin at Weixin Open Class PRO, the number of daily active WeCom enterprise users in the manufacturing industry increased by 30% year-on-year, including less than 500 employees of SMEs were included. 35% increase. WeCom is Weixin’s dedicated product for enterprises, which includes convenient communication tools and office automation tools.
Active mini-programs and their transactions in the food and beverage sector registered steady growth. Retailers in home furnishings, shoes/apparel/sports, and other sectors all reported mini program revenue growth of 47% or more year-over-year.
In the fast-moving consumer goods (FMCG) sector, digital connectivity between products and sales has enabled smaller brick-and-mortar stores to operate smarter and more agile. For example, beverages and dairy products can be quickly delivered to physical stores, and fresh and frozen food retailers and suppliers can easily process orders and deliveries through the Weixin Mini Program.
FMCG and F&B GMV are up over 40% year-over-year. Additionally, digital tools such as QR codes, mini programs, and community-based marketing are helping tens of millions of brick-and-mortar stores achieve new growth in the digital age.
In providing users with better products and services, Weixin will continuously improve the provision of digital tools, help brick-and-mortar merchants achieve new growth in the face of challenges, and help merchants and service providers He said he would work with them to embrace the arrival of the economy. recovery.
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