The report divides various life keywords, identifies, and analyzes life trends in 2023 using Xiaohongshu’s data statistics and topic content from the previous year. To observe and research young people’s lifestyles, Xiaohongshu and the Institute of Sociology, Chinese Academy of Social Sciences, published the “2023 Life Trends” report with the theme “Into Real Life.” “By making extra efforts, brands need to increase their influence,Ģ023 Xiaohongshu Annual Life Trend Analysis These celebrities typically don’t have Xiaohongshu or Douyin, only Weibo. Huang Bo, a 48-year-old actor, was named the ambassador for Shiseido’s high-end line on February 9. People in their mid-forties, also referred to as “uncle stars,” provide a safer option for brands and have a wider market recognition among both young and old consumers.īrands are testing a new cast of ambassadors due to the expensive unpredictability of “traffic stars,” who heavily rely on the fan economy to push the sales of the products they promote. Idol scandals have tarnished China’s entertainment sector in recent years.Īs was the case with Louis Vuitton and rapper Kris Wu, luxury brands associated with wrongdoing (“little fresh meat”) were forced to act quickly to sever their endorsement agreements in order to allay public outrage. The Rise Of China’s ‘Uncle Stars’: How Middle-aged Men Are Taking The Spotlight The large language model team and the image model team will be managed by Zhu Wenjia, head of global search and development for TikTok. When ByteDance launches its large language model, which is anticipated to happen in the middle of this year, it will put a particular emphasis on language and imaging.
It remains to be seen whether Douyin Pay will become a threat to Alipay or Wechat Pay, but there is no doubt that the exclusive partnership is a major opportunity for Bytedance, and something that the two tech giants Alibaba and Tencent follow closely.ByteDance to emphasize search and imaging as it develops ChatGPT’s rivalīyteDance, the owner of TikTok, has assembled a sizable language model team and plans to integrate the technology into its search and advertising businesses as the hype surrounding ChatGPT, an AI-powered chatbot service, continues to encourage Chinese businesses to create analogous products of their own. The move is a scoop for Douyin Pay and can potentially attract hundreds of millions of consumers onto Douyin Pay´s platform.
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The hosts of the Spring Festival Galla will reveal a code which the viewers will have to use on their phones to get the red envelopes. It is now commonplace to use mobile platforms to send digital ’red envelopes’. It is also what brands typically hand out as coupons or vouchers. The red envelope is a traditional Chinese monetary gift signaling future prosperity that parents and grandparents usually give to their children.
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The Gala is broadcasted on the eve of the Chinese New Year, which last year had over 1.2 billion viewers, making it the world’s most-watched TV broadcast.ĭuring the show, Douyin will have the exclusive right to sponsor and issue 1.2 billion yuan (185 million USD) in the form of ’red envelopes’ directly to the viewers. According to Reuters, Douyin has in an aggressive move sued Tencent Holdings (owner of Wechat) for alleged monopolistic behavior, and asked for 13.94 million USD, so the battle is on.īytedance’s CEO, Zhang Nan, has announced that Douyin will be an exclusive partner of the Spring Festival Gala 2021 TV show next week. It may therefore become increasingly difficult for the existing players such as AliPay, Wechat Pay and now Douyin Pay to compete in the arena of payments.Ĭompetition is fierce, and currently Tencent´s Wechat is preventing users from sharing content from Douyin.
This happens alongside tighter regulations for the tech giants, which was exemplified by Ant Financials IPO being taken of the table following Jack Ma’s speech about slow progress and innovation among Chinese regulators. When launching an official digital currency, the tech giants will no longer have a duopoly on digital payment solutions and the power will flow back in the direction of the state. With the introduction of an official, digital currency China is taking a further step on its digital transformation journey. But China is not only ahead when it comes to digital payment solutions.
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