Kwai Ecommerce's Beauty GMV up 245% YoY
- Chaileedo Press
- Feb 23, 2023
- 2 min read
Updated: Apr 3, 2023
Users in Kwai Beauty account for 76.2% of the total number of buyers of top influencers, and maintain a high growth rate of 50%+.
Recently, Kwai e-commerce held the Kwai Beauty Brand & Influencer Selection Event in Hangzhou. The meeting brought together over 150 brand merchants and 72 influencers. By helping to connect influencers and brands efficiently, the event achieved mutual benefits for brands and influencers.
Kwai is a Chinese short video community for users to record and share their production and life. Its 2022 third quarter financial results show that Kwai's average daily active users exceeded 363 million, up 13.4% year-on-year. In 2022 first three quarters, Kwai's revenue increased by 16.3%.
Beauty, an important business division of Kwai, has also achieved rapid growth this year. At the event, Li Huan, head of Kwai's e-commerce distribution business, said in his sharing that in 2022, Kwai's e-commerce beauty industry grew rapidly, with nearly 300 beauty live streams breaking 10 million yuan ($1.45 million) in GMV, an annual beauty GMV growth of 245% year-on-year in 2021, and nearly 40 influencers breaking 100 million yuan ($14.5 million) in annual turnover.
At the same time, the marketing of the influencers became an important boost to pry new increments in the beauty industry. At the event, Dong Bo, head of professional e-commerce operations at Kwai, introduced the new opportunities for influencers marketing in the beauty industry at Kwai. In 2022, the beauty category saw sales of tens of billions of yuan in the live streaming, with users in Kwai Beauty accounting for 76.2% of the total number of buyers of top influencers, and maintaining a high growth rate of 50%+.
The distribution segment further promotes Kwai's beauty business. According to Zhang Liwei, head of the goods aggregation center of Kwai's e-commerce distribution department, Kwai's e-commerce beauty distribution business grew across the board in 2022, with a year-on-year increase of over 269% in distribution scale, 120%+ growth in the number of distributors, over 230,000 active influencers and 300%+ growth in their revenue.
CHAILEEDO notes that beauty brands are gradually deploying on the Kwai platform and achieving good results. According to the 2023 Double 11 Kwai platform ranking, DoraDoSun topped the Kwai Double 11 beauty brand list with 142 million yuan ($20.6 million), and WHOO ranked seventh in the Kwai skincare brand ranking with sales of 31 million yuan ($4.5 million).
Kwai official said, next, Kwai e-commerce will integrate influencers and merchants from the operation, ecology, independent and other multi-dimension to create a list of high-quality goods, build efficient goods position, and customize the cooperation scene for stimulating new growth in business.
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