Kuaishou E-commerce International Beauty Brands GMV YoY Growth Exceeds 100% During "618"
- Chaileedo Press
- Jun 24, 2023
- 2 min read
According to Kuaishou's e-commerce data, during this Kuaishou 618 Shopping Festival (June 1 to June 18), the GMV of international beauty brands on Kuaishou's e-commerce platform increased by over 100% year on year.
Recently, the Kuaishou 618 Shopping Festival came to a successful conclusion, with the beauty industry standing out as a popular category for e-commerce promotions. According to Kuaishou's e-commerce data, during this Kuaishou 618 Shopping Festival (June 1 to June 18), the GMV of international beauty brands on Kuaishou's e-commerce platform increased by over 100% year on year. The number of live streamers with GMV exceeding 10 million yuan ($1.39 million) increased by more than 30%, and the number of single products with GMV breaking 10 million ($1.39 million) increased by 300% YoY.
In addition, TQDAN single product GMV exceeded 100 million yuan ($13.93 million), the number of brands with GMV over 10 million yuan (($1.39 million) increased by 65% YoY, nearly 60 sub-categories GMV increased by over 100% YoY, men's beauty GMV increased nearly 50 times, and the GMV of seasonal sunscreen products increased by 400%. The beauty industry achieved all-around growth during this 618 Shopping Festival.
Among them, Whoo, L'Oréal, and Sulwhasoo ranked among the top three international beauty brands in the 618 Shopping Festival, thanks to their high-quality, well-known, and professional functional products. Kans, OSM, and Grainrain, who focus on combining domestic consumer demand and characteristics, and are committed to launching more suitable beauty products for Chinese skin types, became the top three domestic brands.
As more and more post-95s and post-00s become the main force of market consumption, driven by the "Generation Z" consumer concept, both women and men are constantly raising their demand for beauty products.
Moreover, to enhance the traffic capacity of brand merchants during the promotion and help brands accumulate user assets, Kuaishou e-commerce launched a membership marketing tool before the event. This tool helps brand merchants improve their private domain operation capabilities, efficiently converting public domain traffic into private domain traffic, and guiding brands to fully tap the conversion and repurchase potential of Kuaishou consumers.
Notably, at the Kuaishou E-commerce Gravitation Conference in May, the head of the Kuaishou E-commerce Beauty and Personal Care Industry Operations Center announced that Kuaishou will create over 100 beauty brands with an annual scale of over 100 million yuan ($13.93 million). It will continue to implement new supply, new distribution, new consumers, new scenarios, new marketing, new experience, and new infrastructure, striving to become the largest e-commerce platform for beauty industry growth in 2023. Starting from this promotion, Kuaishou e-commerce will further expand its marketing space, providing more comprehensive support for the long-term development of the beauty industry.
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