Today, WalktheChat selected nuggets of insights from 5 industry reports published during the last couple of weeks. Enjoy! Live-streaming triples WeChat conversion rates in female apparel The success of Taobao live-streaming has been widely covered in recent tech news. Hosts such as Li Jiaqi and Wei Ya are now emblematic of massive impulse purchases. But live-streaming is not limited to …
How to set up WeChat Pay? A Simple Guide
In this article, we will look into: What is WeChat Pay - for end users click here What is WeChat Pay - for companies click here How can foreigners apply for WeChat Pay (for individual) click here How can you change the bank card linked with WeChat Pay (for individual) click here How to apply for WeChat Pay (for Chinese companies) click here ...
WeChat Official Account: a simple guide
WeChat Official Accounts are drawing a lot of interest these days, as WeChat has risen to dominate the Chinese social media space (Chinese users spend ⅓ of their smartphone time on WeChat). We will address the following questions: What is WeChat Official Account Click here How do users find your WeChat Official Account Click here What are the different types …
Youzan: the Booming Leader of WeChat Commerce
There is no shortage of providers of WeChat stores (WalktheChat is one of them!). But, whether we like it or not, we all have to admit that there is one leader in the market: Youzan. Let’s take a closer look at the largest WeChat store provider in China. We also wrote a step-by-step guide for how to create a WeChat …
How to sell on WeChat with Youzan? The ultimate guide
In this article we’ll learn how to sell via Youzan. We are picking Youzan as the largest WeChat shop platform in China. Many large WeChat accounts (such as Luoji Siwei) use Youzan as their main e-commerce channel. Youzan recorded a Gross Merchandise Volume (GMV) of 33 billion RMB in 2018. Click here to learn more about Youzan’s financial status and …
Tencent Q3’19 Results Show Drop in Profits
It’s been a difficult year for Tencent with tough competition and increasing regulation around gaming. Let’s see how this impacted the company’s financial performance. Revenues are still growing steadily Revenues of Tencent have kept growing at a relatively steady pace, with a 21% YOY increase. This growth has mostly been led by the expansion of the Fintech & Cloud computing …
Single’s Day 2019 breaks new record: $38 billion in 24 hours
Year over year, Alibaba has managed to beat its own record during the biggest shopping festival on the planet. There were real concerns about whether the company would pull it off once again. The answer is a resounding yes: gross merchandise volume (GMV) on Tmall reached 268 billion RMB (38 billion USD) within 24 hours, a 26% YOY growth. The …
What are WeChat Mini-Programs? A Simple Introduction
Mini-programs continue thriving in China’s digital ecosystem. Up to 2021, there are more than 4.3 million WeChat mini-programs attracting around 410 million daily active users. WeChat mini-programs are a very complex piece of technology/design, so I’ll answer the questions in 3 parts: What are WeChat mini-programs? Cons: What are the main drawbacks of WeChat programs? Pros: What makes them interesting …
A mother & baby WeChat live-streaming case study: 3.22 M RMB of sales in 2 hours
The founder of Xiaoxiaobao Mama, Sun Jing, managed an impressive feat even by Chinese live streaming standards. Last August, she sold 3.22 million RMB worth of products during a 2-hours long WeChat live stream. And these results were not due to chance. In May, during her first WeChat live stream, she managed to sell 15,360 products worth a total of …
WeChat upgrades advertising in order to fight Tik Tok
WeChat has been trying hard to sell ads lately, not very successfully. Although Tencent announced it would increase the number of ads sold on the platform, the advertising growth rate went down from 25% YOY to 16% from Q1 to Q2 2019. The reasons for this drop? A challenging macro-economic context, but also the intense competition from Douyin, Toutiao, and …