Announcing outstanding performance for the Double 11 shopping festival in China this year, Bilibili Inc. ("Bilibili" or the "Company"), an iconic brand and the leading video community for young people in China, has announced outstanding performance for this year. When compared to last year, the Gross Merchandise Volume (GMV) generated by video and live broadcasting commerce on the platform increased by 251%.
Bilibili saw a 233% increase in video commerce during China's biggest online shopping festival thanks to its thriving community engagement, as well as a 105% increase in live broadcasting commerce sessions during the festival. As a growing number of brands and merchants are utilizing Bilibili's comprehensive marketing solutions, Bilibili is proving itself to be one of the most important drivers of incremental growth in both e-commerce platforms as well as brands.
Developing strong conversion capabilities and cultivating user mindshare
Bilibili reported that this year, the number of users who searched for Double 11-related keywords on the platform increased by 25% over last year, demonstrating that more and more users are turning to Bilibili to make their purchasing decisions. During the period, Pets, Electronics, Household Items, Baby and Maternity Products, as well as Automotive were among the top searched categories.
A significant amount of user interest in commodities on Bilibili has translated into transactions. Starting last year, Bilibili has begun exploring video and live broadcasting commerce in order to expand its services. The platform's video commerce volume soared 376% year-over-year, while the live broadcasting commerce volume soared 186%. These results reaffirm Bilibili's status as a powerhouse of youth-driven consumer dynamics and emphasize the platform's prowess in seamlessly combining content and commerce.
By working with content creators on high-quality reviews, one Chinese home appliance brand was able to achieve an ROI of approximately 15 by using video commerce. Bilibili's top content creator @MrMiDeng generated a total GMV of RMB 1.68 billion across all channels on Double 11, a 50 percent increase on a year-over-year basis for live broadcasting commerce.
Developing deep collaborations with e-commerce platforms to drive consumption of our products
As part of an open and collaborative strategy, Bilibili formed deep strategic partnerships with e-commerce leaders such as Taobao & Tmall, JD.com, and Pinduoduo as part of an open and collaborative approach. The Bilibili brand leveraged its popularity with young Chinese consumers by implementing integrated marketing campaigns, app updates, and live broadcasting promotions that created a celebratory Double 11 atmosphere, in addition to recruiting creators who would be involved in live broadcasting and video commerce, enabling customers to shop more easily.
A heart-warming video campaign was launched by Bilibili in partnership with Tmall in order to encourage and attract young consumers to the platform by creating an integrated marketing campaign on the platform. To showcase more products and create more consumption scenarios for users, Bilibili has temporarily rebranded its "Membership Store" tab as the "Double 11 Store" tab and added a designated "Tmall Double 11" subsection to its platform. In addition, Tmall Double 11-related content creation on the platform increased by 133% year-over-year.
A close working relationship was also established between Bilibili and JD.It was agreed that Bilibili would collaborate with Pinduoduo and com on traffic-sharing programs and consumption insights sharing initiatives in order to encourage Bilibili content creators to direct their users to these platforms and brands, thereby increasing efficiency and conversion rates, respectively. In collaboration with JD.com, Bilibili launched a campaign called the "Jinghuo Plan".During the pre-sale period, com helps merchants better understand consumers' intentions to make purchases during the pre-sale period. Additionally, the number of influencers that collaborated with Pinduoduo on Bilibili increased more than 140% compared to last year's Double 11, contributing to Pinduoduo's increase in traffic and conversions.
Additionally, the number of influencers that collaborated with Pinduoduo on Bilibili increased more than 140% compared to last year's Double 11, contributing to Pinduoduo's increase in traffic and conversions.
Delivering strong incremental value to our clients
During this Double 11, Bilibili was able to provide brand partners with access to new shoppers by leveraging its youth community and directing traffic to e-commerce sites. In all 8 verticals, Bilibili brought in over 50% of new users for brand partners, with a rate of 89% for mom and baby brands. As a result of the pre-sale period of Double 11, one Chinese cosmetics brand reached over 20 million potential customers on Bilibili and significantly reduced the brand's acquisition costs as a result.
As part of its commitment to empowering content creators, Bilibili has explored various monetization avenues to drive commercialization. As part of its Sparkle Platform, Bilibili is able to match brands with creators so that they can collaborate on quality content. Additionally, Bilibili has launched the Supernova incubator program for aspiring e-commerce creators to enhance their ability to conduct live broadcast commerce with their live broadcasting channels.
In addition to cosmetics, food, appliances, education, automotive, e-commerce, healthcare, and gaming, Bilibili continues to explore tailored strategies for key vertical markets. E-commerce ads are one of Bilibili's new engines of revenue growth within those verticals. In Q2 of this year, e-commerce ads grew 140% year over year, while gaming ads grew 40% year over year.
BILIBILI INC - WHAT WE DO
Founded in 2005, Bilibili is a leading video community and brand in China with a mission to enrich the everyday lives of young generations through video content.. There are a wide range of video-based content available through Bilibili, with its value proposition being All the Videos You Like.. It is Bilibili's mission to build a community based on aspiring users, high-quality content, talented content creators, and the emotional bond that exists among them.. It was Bilibili that pioneered the "bullet chatting" feature. This feature is a live commenting feature that adds to the viewing experience by displaying the thoughts and feelings of other audiences viewing the same video as you.. Today, it has become one of the most welcoming homes for young people in China who have diverse interests and is also the frontier for promoting Chinese culture worldwide
Today, it has become one of the most welcoming homes for young people in China who have diverse interests and is also the frontier for promoting Chinese culture worldwide
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Source prnewswire