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There is still a lot that e-commerce platforms can do to promote consumption

2024-08-07

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How can small and medium-sized businesses stand out in the traffic era? Recently, Douyin e-commerce "set an example". At the Paris Olympics, someone found that a Spanish reporter was carrying a media interview backpack from the Beijing Olympics 16 years ago. The topic "Paris reappears the 2008 Beijing Olympics backpack" quickly became a hot search. Soon, the manufacturer of the backpack, Xiangxing (Fujian) Luggage Group Co., Ltd., started a live broadcast, triggering a buying frenzy. On the first day of the broadcast, more than two million people flocked to the live broadcast room, and it is reported that the sales on that day exceeded 3 million yuan.

Photo: Xiangxing (Fujian) Bags Group Co., Ltd.

Today, relying on China's strong manufacturing capabilities, consumers can choose from a wide variety of products, which has promoted the phenomenon of consumption upgrading. However, with the abundance of supply, the factors that determine consumer choices, such as brand, price, logistics, popularity, etc., have also increased sharply, and the link of consumer decision-making has also been extended. Take clothing as an example. Traditional e-commerce platforms have greatly enriched consumers' choices, but consumers often fall into "choice difficulties". For the majority of merchants, the search method of traditional e-commerce has the Matthew effect of "the strong will always be strong" for the head merchants, and it is difficult for small and medium-sized stores to gain traffic favor in the commodity information flow. At the same time, in the current media environment, traditional e-commerce and social media often belong to different companies. This "separation" undoubtedly adds another link between some merchants and traffic, making it difficult to accurately meet the needs of consumers.

How to achieve efficient matching between consumers and merchants? How to smoothly transform from interest to consumption? Social media and e-commerce platforms should achieve deeper integration. Through the cultural tourism boom in Zibo and Harbin, we can find that the traffic of online hot events contains huge offline consumption potential. In the same way, at a time when short videos and live broadcasts have become important communication media, the "goods find people" type of interest consumption represented by Douyin e-commerce allows the consumption desire triggered by traffic to quickly connect with the supply of goods, greatly shortening the intermediate path for hot event-related goods to reach consumers, and ultimately greatly improving the turnover efficiency of "production-supply-sales". Not only Xiangxing's backpacks, the classic national brand Yumeijing and the classic daily chemical brand Vitality 28 have become "Internet celebrities" through some hot topics, driving the brand sales to soar and realizing the brand's "return of the king". Platforms represented by Douyin e-commerce provide merchants with a one-stop transaction link. Users can place orders after watching online hot spots, greatly shortening consumers' decision-making links and improving merchants' transaction efficiency.

Under the background that consumption is becoming more and more important as the endogenous driving force of the domestic circulation, realizing consumption innovation on the basis of the original traditional consumption model is an important issue for promoting consumption and expanding domestic demand, and e-commerce platforms have great potential in this regard. Especially today, the consumption concepts of the post-90s and post-00s are becoming more mature, and shopping is no longer just about gimmicks and "packaging", but more about practicality, quality and personalization. However, many small and medium-sized businesses and ordinary workers can provide distinctive goods, have the need to make a living and the enthusiasm for entrepreneurship, but do not have the ability to quickly productize and brand their own scattered skills. Platforms represented by Douyin e-commerce have accelerated and promoted this process, helping the matching of resources and capabilities between supply and demand sides, and gradually driving more non-standard e-commerce creators to settle in. More and more service-oriented, creative, and non-standard products and services are also forming new transaction scenarios and consumption models through Douyin e-commerce, and reversely driving the continuous generation of new demands, fully demonstrating the great value of global interest e-commerce in helping small and micro enterprises and expanding domestic demand.

The underlying foundation of commercial value is social value. Relying on technological means, innovating the form and content of consumption can release more opportunities and help economic and social development. This virtuous growth cycle meets society's expectations for technology companies and is the right path for the development of e-commerce. (Text/Wang Cheng)

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