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251% YoY Increase in Gross Merchandise Volume from Video and Live Broadcasting commerce
SHANGHAI, Nov. 15, 2023 /PRNewswire/ -- Bilibili Inc. ("Bilibili" or the "Company"), an iconic brand and a leading video community for young people in China, announced outstanding performance for this year's Double 11 shopping festival in China. The platform's Gross Merchandise Volume (GMV) generated from video and live broadcasting commerce rose 251% compared to the same period last year.
Backed by its thriving community engagement, Bilibili saw the amount of video commerce during China's biggest online shopping festival increase 233% year-over-year, and live broadcasting commerce sessions grow 105% year-over-year. An increasing number of brands and merchants are leveraging Bilibili's comprehensive marketing solutions, cementing its status as a significant driver for incremental growth for both e-commerce platforms and brands.
Cultivating User Mindshare and Strong Conversion Capabilities
This year, the number of users on Bilibili who searched for Double 11-related keywords achieved a 25% year-over-year increase, demonstrating that more users are relying on the platform for their consumption decisions. The fastest-growing searched categories during the period were Pets, Electronics, Household Items, Baby and Maternity Products, as well as Automotive.
User interest in commodities on Bilibili ultimately translated into transactions. Starting from last year, Bilibili began to explore video and live broadcasting commerce. Double 11-related video commerce GMV on the platform swelled 376% year-over-year, and live broadcasting commerce GMV grew rapidly at 186%. These reaffirm Bilibili's status as a powerhouse of youth-driven consumer dynamics and emphasize the platform's prowess in combining content and commerce seamlessly.
In terms of video commerce, one Chinese home appliance brand achieved ROI of nearly 15 by working with content creators on high-quality reviews. For live broadcasting commerce, top Bilibili content creator @MrMiDeng accumulated a total GMV of RMB 1.68 billion across all channels on Double 11, a 500% year-on-year increase.
Deep Collaborations with E-commerce Platforms to Drive Consumption
As part of an open and collaborative strategy, Bilibili formed deep strategic partnerships with e-commerce leaders including Taobao & Tmall, JD.com, and Pinduoduo. Leveraging its popularity among young Chinese consumers, Bilibili rolled out integrated marketing campaigns, app updates, and live broadcasting promotions to create a celebratory Double 11 atmosphere, as well as recruit creators to join live broadcasting and video commerce, providing users with more shopping opportunities.
In partnership with Tmall, Bilibili launched an integrated marketing campaign to stimulate and attract young consumers on the platform through heart-touching videos. The Bilibili app temporarily rebranded its "Membership Store" tab as the "Double 11 Store" tab and added a designated "Tmall Double 11" subsection on the platform to showcase more products and create more consumption scenarios for its users. Tmall Double 11-related content creation on the platform also rose 133% year-over-year.
Bilibili also worked closely with JD.com and Pinduoduo on traffic-sharing programs and consumption insights-sharing initiatives, to encourage Bilibili content creators to direct its users to these platforms and brands, while enhancing efficiency and conversion rates. Bilibili launched the "Jinghuo Plan" campaign with JD.com during the pre-sale period, helping merchants better understand consumers' purchase intentions. In addition, the number of influencers collaborating with Pinduoduo on Bilibili increased over 140% compared to last year's Double 11, further boosting traffic and conversion for Pinduoduo.
Providing Strong Incremental Value
By leveraging its youth community and directing traffic to e-commerce sites, Bilibili provided brand partners access to new shoppers this Double 11. Over 50% of new users brought to brand partners across 8 verticals originated from Bilibili, reaching 89% for mother and baby brands. One Chinese cosmetics brand reached over 20 million target users on Bilibili during the pre-sale period of Double 11, and significantly lowered the brand's customer acquisition cost.
Bilibili has been actively exploring diverse monetization avenues to drive commercialization, while upholding its commitment to empowering content creators. Bilibili provides brands with abundant options for quality content collaborations via its Sparkle Platform, which matches brands with creators. Furthermore, Bilibili launched the incubation program Supernova for aspiring e-commerce creators to enhance their live broadcasting commerce capability.
Bilibili continues to explore tailored strategies for key verticals including cosmetics, food, appliances, education, automotive, e-commerce, healthcare, and gaming. Among those verticals, e-commerce ads have become a new engine for Bilibili's revenue growth. In Q2 this year, e-commerce ads grew 140% and gaming ads 40% year-on-year.
ABOUT BILIBILI INC
Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday life of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators, and the intense emotional bond among them. Bilibili pioneered the "bullet chatting" feature, a live commenting function that has transformed the viewing experience by displaying the thoughts and feelings of other audiences viewing the same video. It has now become the welcoming home of diverse interests for young generations in China and the frontier to promote Chinese culture worldwide.
