Kuaishou sets up e-commerce divisions for local services and property sales · TechNode

Kuaishou sets up e-commerce divisions for local services and property sales · TechNode
Kuaishou’s e-commerce unit has set up two new business centers targeting the online sales of local services and properties, Chinese media outlet Jiemian reported on Monday, citing people with knowledge of the matter. The report says that the heads of the two new centers, which were established in April, will report directly to Xiao Gu, director of Kuaishou’s e-commerce business. The short video app opened its e-commerce store to local services merchants in January and currently allows the selling of houses through livestreaming in 16 cities. Both of the services target users in China’s smaller cities, where the Douyin rival has a stronger hold. Kuaishou’s gross merchandise value increased 78.4% year-on-year to RMB 680 billion ($101 billion) in 2021.

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