With the local life market gradually transitioning into the era of short videos and live streaming, Kuaishou, boasting nearly 700 million monthly active users and robust purchasing power, has become the land of opportunity for industry merchants to seize business growth. To assist local life businesses in seizing business growth opportunities more efficiently and accurately on Kuaishou, Kuaishou Local Life will hold the "2024 Power Ecological Conference" in Qingdao on March 21. The conference will comprehensively interpret Kuaishou Local Life's new strategies, ecosystems, and policies, empowering group purchase businesses to efficiently acquire new users, meet new demands, and increase their business volume, thus collectively embarking on the path of new growth in the local life arena.
Under the theme of "It's Time to Reinvent Every Group Purchase on Kuaishou," several platform executives will be present to share insights from various perspectives such as breaking through existing constraints, improving efficiency across the board, activating potential, and igniting business growth, providing comprehensive assistance to merchants in unlocking new business volumes throughout the entire chain.
During the conference, Kuaishou's Senior Vice President and Head of the Local Life Business Unit, Xiaogu, will comprehensively interpret the growth trend, user value, platform ecosystem, and policies of Kuaishou Local Life. Additionally, Kuaishou's Senior Vice President and Head of E-commerce Business Unit and Commercialization Business Unit, Wang Jianwei, will share on-site how Kuaishou supports local life merchants through multiple channels including products, services, and policies, to achieve comprehensive operational efficiency.
Furthermore, to help merchants better embrace new users and seize new opportunities on Kuaishou, Guo Baiyue, Product Manager of Kuaishou Local Life Business Unit, will provide detailed insights into the brand new upgrades in traffic strategies, operational tools, and marketing systems for the year 2024. Zhu Yunbo, Head of Kuaishou Local Life Business Unit's Service Provider Center and Content Center, will also delve into Kuaishou's targeted support policies for merchants, influencers, and service providers.
Leveraging the rapid growth of Kuaishou Local Life, the continuous release of user potential, and the increasing support intensity, an increasing number of businesses in industries such as catering and tourism have achieved efficient customer acquisition and rapid business growth on Kuaishou. During the conference, outstanding merchant representatives will also share their methodologies for achieving efficient customer acquisition and rapid growth on Kuaishou.
It is reported that since 2022, Kuaishou Local Life has been continuously promoting the digitalization upgrade of service retail and commodity retail on both the demand and supply sides, striving to become the preferred platform for users' daily lifestyle needs. Over the past year, Kuaishou Local Life has provided users with more cost-effective consumption experiences through platform ecosystem and content formats such as short videos and live streaming, while also assisting numerous partners in gaining more diverse monetization methods.
Benefiting from an open and diverse commercial ecosystem, more and more operators have joined Kuaishou Local Life's ecosystem. On January 17, Kuaishou and Ctrip announced a strategic cooperation. Ctrip will enter Kuaishou Local Life's ecosystem for the first time and gradually integrate preferred products such as scenic tickets and vacation routes into the Kuaishou platform. Kuaishou will provide a package of benefits including traffic promotion, product subsidies, and influencer collaborations. Both parties will work together to create a more comprehensive local life service experience model.
Data shows that from 2013 to 2023, the proportion of per capita service consumption expenditure increased by 5.5 percentage points to 45.2%, making service consumption the incremental growth driver. With Kuaishou Local Life's massive high-value users, well-rounded closed-loop business ecosystem, and strong support policies, now is the best time for local life businesses to join Kuaishou. With the convening of the Power Ecological Conference, Kuaishou Local Life will collaborate with more partners in the future to provide users with the best value-for-money products while also empowering merchants to efficiently acquire new business volumes.
