This story was originally published on TechNode on May 30, 2019. TechNode is a trusted and respected information outlet, events organizer, and an integral part of the tech and startup community both inside and outside of China. Read the original story here.
Short video apps key to engaging Chinese youth: iResearch
Many users of platforms like Douyin and Kuaishou are young, making the short video apps an ideal place for brands to market their products to China’s youth, said Hillary Han, director at market research firm iResearch.
The top two digital channels that youth spend their time on are video platforms and social apps, Han said. Specifically, apps like Douyin and Kuaishou are where younger users are spending increasingly more time, according to data from research firm Jiguang.
Short video apps are now more prevalent than online payment tools. At the end of 2018, 80% of China’s 829 million netizens used short video apps, according to a report from the China Internet Network Information Center.
Short video app users also tend to focus less on price comparisons, making monetization easier, Han said. Speaking at TechNode’s Emerge tech conference last Thursday, Han said: “If they trust this KOL [key opinion leader], if they can afford this and if that’s what they need, they buy it.”
Most purchases are in lower-tier cities, where industry giants like Douyin and Kuaishou see the fastest growth. “In top-tier cities, people have so much information and so many channels to compare. In lower-tier cities, the information channels are limited,” Han explained.