Chinese live-streaming e-commerce firm East Buy saw sales at its online store on WeChat cross the 1 million yuan (US$136,586) mark on Monday, with more than 80 per cent of transactions made through the app’s gift-giving feature, according to a report by local media outlet National Business Daily, citing company sources.
The feature enables shoppers to search for products on WeChat by keywords. After the sender completes payment, the recipient must accept the gift and submit a postal address within 24 hours or the order will be cancelled, and the money returned to the sender. Users can only send a single gift to one WeChat friend per order.
According to WeChat’s official guidelines, prices of products made available via this feature are capped at 10,000 yuan, and exclude jewellery and tutoring classes.
East Buy’s latest sales results on WeChat bodes well for the Tencent super app – with nearly 1.4 billion monthly active users – as shopping heats up around China’s Lunar New Year holiday, which runs from January 29 to February 12.
