The Luster of Kuaishou's Data
In the ever-evolving landscape of social media and e-commerce, Kuaishou stands out as a pivotal platform, particularly in the jewellery and accessories sector. This comprehensive article dissects Kuaishou's data spanning from January 2021 to June 2023, shedding light on two pivotal areas: overarching industry trends and nuanced segmented trends.
The Resilience of China's Jewelry Market: A Kuaishou Perspective
Economic Resurgence and Market Growth
The Chinese gold and jewellery market has demonstrated remarkable resilience, boasting a Compound Annual Growth Rate (CAGR) of 7.17% from 2021 to 2022. The market valuation catapulted from 380.966 billion yuan to an impressive 815.898 billion yuan. With China easing its pandemic-related restrictions towards the end of 2022, the offline jewellery market has seen a robust resurgence. Forecasts indicate a 3% to 6% growth rate, aligning with the recovering economy.
The Kuaishou Effect: A Hub of User Engagement
Kuaishou is more than just a platform; it's a community where daily viewership for jewellery and accessories content exceeds 45 million. The monthly live-stream audience is even more staggering, surpassing 120 million. Notably, events like the Spring Festival and Qixi Festival (the Chinese Valentine's Day) act as catalysts for peak user engagement, with year-over-year increases in video views and playbacks by 18.6% and 19.1%, respectively.
The Social Factor: Comments and Shares
Kuaishou's audience is not merely passive; they are active participants. The platform has seen an 18.5% surge in average comments and a remarkable 41.8% hike in average shares. This level of engagement offers brands a fertile ground for increased visibility and potential sales.
Navigating the Nuances: Segmented Trends in Jewellery and Accessories
The Golden Standard: Evergreen Appeal
Gold-centric content on Kuaishou has seen a significant uptick, with a 33.7% increase in monthly average video volume in the first half of 2023 alone. Searches for gold, particularly pure and 24K gold, have also seen a substantial rise, indicating a stable yet growing interest.
The Exotic Allure: Jade and Gemstones
Jade, especially Hetian jade, has captivated Kuaishou's audience. The search volume for jade and other gemstones has skyrocketed, with jade alone showing a 149% increase. This trend signifies a burgeoning interest in these exotic stones.
The Luxury Lane: Diamonds and Premium Gemstones
Diamond-related content has seen a 15.4% increase in effective average views, with crystal following at 8.7%. Premium brands like DR Diamonds are among the most searched, underscoring the high level of user interest in luxury gemstones.
Live-Streaming Dynamics: Timing is Everything
Live-streaming trends on Kuaishou exhibit a cyclical pattern, peaking around the Qixi Festival and declining as the Spring Festival nears. This trend is invaluable for brands planning their marketing calendars.
Consumer Insights: The Who, What, and Where of Buying Behaviour
Demographics: Men Watch, Women Shop
While men predominantly consume content, women are the primary buyers, offering brands a unique opportunity for targeted marketing.
Age Demographics: The Young and the Restless vs. The Mature and the Mindful
The 18-23 age group is highly active in content consumption, but the 31-50 age group takes the lead in purchasing, particularly the 31-40 age bracket.
Geographical Trends: A Tale of Provinces and Cities
Hebei, Shandong, and Liaoning lead in consumption, but emerging markets like Yunnan, Guangdong, and Sichuan are catching up fast. High-line cities prefer amber and jade, while new-line cities show a penchant for silver accessories.
Price Sensitivity: The Sky's the Limit
Products priced above 1,000 yuan constitute over 34% of the market, indicating a consumer base willing to invest in high-value items.
The Future is Bright and Shiny
Kuaishou offers a treasure trove of opportunities for brands in the jewellery and accessories sector. With its high user engagement and expanding market, the sky is the limit for brand visibility and sales. Whether you're in the gold, jade, or diamond business, there's a segment of Kuaishou's audience eager to engage and purchase.