Xin Lang Cai Jing·2025-08-13 11:08Core Viewpoint - Kuaishou is rumored to be entering self-operated e-commerce through the launch of the "Kuaishou Official Self-Operated Flagship Store," but internal sources indicate that there are no comprehensive plans for self-operated e-commerce at this time [1][3] Group 1: Kuaishou's E-commerce Strategy - The "Kuaishou Official Self-Operated Flagship Store" has launched dozens of gold jewelry products, with many marked as "Kuaishou Self-Operated," indicating a potential shift towards self-operated e-commerce [1] - Kuaishou's e-commerce has previously introduced a managed model, including semi-managed and fully managed options, allowing the platform to handle various operational tasks for merchants [3] - The self-operated model allows Kuaishou to endorse product quality under its name, potentially increasing consumer trust [3] Group 2: Market Context and Performance - The overall e-commerce industry primarily relies on third-party merchants, as this model is less operationally intensive and enhances product variety [4] - Kuaishou's e-commerce GMV (Gross Merchandise Volume) grew by 15.4% year-on-year in Q1, reaching 332.3 billion, with monthly active buyers increasing to 135 million [4] - The focus for Kuaishou's e-commerce in the past year has been on optimizing product supply and improving operational efficiency to meet user demands [4] Group 3: Challenges and Competitive Landscape - The investment in self-operated e-commerce requires significant resources and poses higher operational risks, making it a less favorable option compared to enhancing platform ecology and collaboration with external supply chains [5] - Competitors like Douyin have attempted self-operated e-commerce but faced challenges, leading to the closure of several self-operated stores [5] - Kuaishou is advised to concentrate on refining its platform operations rather than aggressively pursuing self-operated e-commerce at this stage [5]