Harvard Case - Kuaishou: Developing a Livestreaming E-Commerce Business
"Kuaishou: Developing a Livestreaming E-Commerce Business" Harvard business case study is written by Wei Li, Junfeng Tian, Jianping Liang, Jing Chen, Hubert Pun. It deals with the challenges in the field of Strategy. The case study is 11 page(s) long and it was first published on : Dec 5, 2021
At Fern Fort University, we recommend Kuaishou pursue a multi-pronged strategy to solidify its position as a leading livestreaming e-commerce platform in China and beyond. This strategy involves leveraging its existing strengths in social engagement, user trust, and technology to:
- Expand its product offerings: Kuaishou should diversify its product portfolio beyond agricultural goods to include a wider range of consumer goods, particularly those with high demand in emerging markets.
- Strengthen its supply chain: Invest in building a robust and efficient supply chain that can handle the increased demand and complexity of a broader product range.
- Enhance its logistics network: Develop a comprehensive logistics network that ensures timely and reliable delivery of products to customers across its target markets.
- Refine its marketing strategy: Implement a targeted marketing strategy that leverages social media, influencer marketing, and data analytics to reach new customer segments and drive sales.
- Embrace international expansion: Strategically enter new markets, particularly in Southeast Asia and other regions with high growth potential for livestreaming e-commerce.
2. Background
Kuaishou, a leading short-form video and livestreaming platform in China, is facing a critical juncture. While it enjoys immense popularity and user engagement, its foray into livestreaming e-commerce is still in its nascent stages. The company needs to navigate the complexities of this rapidly evolving market and establish a sustainable competitive advantage.
The case study focuses on Kuaishou's efforts to build a successful livestreaming e-commerce business. The company faces challenges such as:
- Competition from established players: Alibaba, JD.com, and Pinduoduo are already dominant players in China's e-commerce market.
- Building trust and credibility: Kuaishou needs to ensure the authenticity and quality of products sold on its platform to maintain user trust.
- Managing logistics and delivery: Scaling up its logistics network to handle increased order volume and ensure efficient delivery is crucial.
- Expanding into international markets: Kuaishou needs to adapt its business model and marketing strategy to cater to diverse international markets.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Large user base: Kuaishou boasts a vast user base with high engagement levels, providing a strong foundation for e-commerce growth.
- Strong social network: The platform's social features foster trust and community among users, facilitating product recommendations and sales.
- Technology and analytics capabilities: Kuaishou has developed robust technology and data analytics capabilities, enabling efficient operations and personalized recommendations.
Weaknesses:
- Limited product offerings: Currently, Kuaishou's e-commerce focus is primarily on agricultural products, limiting its appeal to a wider customer base.
- Logistics challenges: The company's logistics network is still under development, posing challenges in scaling up delivery operations.
- International market penetration: Kuaishou's presence in international markets is limited, requiring significant investment in market research, localization, and marketing.
Opportunities:
- Growing livestreaming e-commerce market: The livestreaming e-commerce market in China and globally is experiencing rapid growth, offering significant potential for Kuaishou.
- Expansion into new product categories: Diversifying product offerings beyond agricultural goods can attract a broader customer base and increase revenue streams.
- International market expansion: Entering new markets with high growth potential for livestreaming e-commerce can unlock significant market share and revenue.
Threats:
- Intense competition: Established e-commerce giants like Alibaba and JD.com pose a significant threat to Kuaishou's market share.
- Regulatory challenges: The evolving regulatory landscape in China and other countries could impact Kuaishou's operations and growth.
- Consumer trust and safety: Maintaining user trust and ensuring product quality is crucial for Kuaishou's long-term success.
Porter's Five Forces Analysis:
- Threat of new entrants: The high barriers to entry in the e-commerce market, including capital requirements, logistics infrastructure, and established brand recognition, deter new entrants.
- Bargaining power of buyers: Consumers have a wide range of choices in the e-commerce market, giving them considerable bargaining power.
- Bargaining power of suppliers: Kuaishou's dependence on a diverse range of suppliers for its products gives suppliers some bargaining power.
- Threat of substitute products: Alternative online and offline shopping channels pose a threat to Kuaishou's e-commerce business.
- Rivalry among existing competitors: The intense competition among established e-commerce players creates a dynamic and challenging environment for Kuaishou.
Value Chain Analysis:
Kuaishou's value chain consists of the following key activities:
- Inbound logistics: Sourcing products from suppliers and managing inventory.
- Operations: Managing livestreaming broadcasts, facilitating transactions, and providing customer support.
- Outbound logistics: Delivering products to customers.
- Marketing and sales: Promoting products through livestreaming, social media, and other channels.
- Customer service: Providing support to customers throughout the purchase process.
Business Model Innovation:
Kuaishou's business model innovation lies in its unique combination of social engagement, livestreaming, and e-commerce. The platform leverages its strong social network and user trust to facilitate product recommendations and sales. This model creates a personalized and interactive shopping experience, differentiating Kuaishou from traditional e-commerce platforms.
4. Recommendations
1. Expand Product Offerings:
- Diversify beyond agricultural goods: Kuaishou should expand its product portfolio to include a wider range of consumer goods, such as clothing, electronics, home appliances, and beauty products.
- Target emerging markets: Focus on products with high demand in emerging markets, particularly in Southeast Asia and other regions with a growing middle class.
- Partner with established brands: Collaborate with established brands to offer a curated selection of high-quality products, enhancing consumer trust and brand recognition.
2. Strengthen Supply Chain:
- Invest in technology: Implement advanced inventory management and supply chain optimization technologies to ensure efficient product sourcing, storage, and distribution.
- Develop strategic partnerships: Forge partnerships with logistics providers and manufacturers to streamline operations and reduce costs.
- Build a robust network: Develop a comprehensive supply chain network that can handle the increased demand and complexity of a broader product range.
3. Enhance Logistics Network:
- Develop a nationwide delivery infrastructure: Invest in building a robust logistics network that includes warehouses, distribution centers, and delivery personnel to ensure timely and reliable delivery across its target markets.
- Leverage technology: Implement advanced logistics software and tracking systems to optimize delivery routes, manage inventory, and provide real-time updates to customers.
- Explore partnerships: Partner with third-party logistics providers to expand its reach and improve delivery efficiency.
4. Refine Marketing Strategy:
- Target specific customer segments: Identify and target specific customer segments based on demographics, interests, and shopping behavior.
- Leverage influencer marketing: Partner with influential livestreamers and social media personalities to promote products and reach new audiences.
- Utilize data analytics: Use data analytics to understand customer preferences, optimize marketing campaigns, and personalize product recommendations.
5. Embrace International Expansion:
- Focus on high-growth markets: Prioritize entering new markets with high growth potential for livestreaming e-commerce, such as Southeast Asia, Latin America, and Africa.
- Adapt to local preferences: Tailor product offerings, marketing strategies, and payment methods to cater to local preferences and regulations.
- Build local partnerships: Collaborate with local businesses, influencers, and logistics providers to establish a strong presence in new markets.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of Kuaishou's strengths, weaknesses, opportunities, and threats, as well as the competitive landscape of the livestreaming e-commerce market. They are aligned with Kuaishou's core competencies in social engagement, technology, and data analytics, and aim to enhance its value proposition to customers. The recommendations also consider the attractiveness of the target markets, taking into account factors such as market size, growth potential, and competitive intensity.
6. Conclusion
Kuaishou has the potential to become a leading player in the global livestreaming e-commerce market. By implementing a multi-pronged strategy that focuses on expanding its product offerings, strengthening its supply chain, enhancing its logistics network, refining its marketing strategy, and embracing international expansion, Kuaishou can leverage its existing strengths and capitalize on the growth opportunities in this dynamic market.
7. Discussion
Alternative Options:
- Focusing solely on domestic market: While this option might seem less risky, it limits Kuaishou's growth potential and exposes it to increased competition from established players.
- Acquiring existing e-commerce companies: This option could provide Kuaishou with immediate access to new markets and product categories, but it comes with significant financial and integration challenges.
Risks and Key Assumptions:
- Competition: The intense competition in the e-commerce market could hinder Kuaishou's growth and profitability.
- Regulatory changes: Evolving regulations in China and other countries could impact Kuaishou's operations and business model.
- Consumer trust: Maintaining user trust and ensuring product quality is crucial for Kuaishou's long-term success.
Assumptions:
- Kuaishou can successfully execute its strategic plan and overcome the challenges associated with expanding its product offerings, strengthening its supply chain, and entering new markets.
- The livestreaming e-commerce market will continue to grow at a rapid pace, providing significant opportunities for Kuaishou.
- Kuaishou can maintain its strong social network and user trust, which are key differentiators in the competitive e-commerce landscape.
8. Next Steps
- Develop a detailed strategic plan: Outline specific goals, timelines, and resource allocation for each recommendation.
- Implement pilot programs: Test new product offerings, marketing campaigns, and logistics solutions in specific markets before scaling up.
- Monitor progress and adjust strategies: Continuously monitor the effectiveness of its initiatives and make adjustments as needed to ensure optimal performance.
- Build a strong leadership team: Recruit and develop talent with expertise in e-commerce, logistics, marketing, and international business to support the company's growth.
By taking these steps, Kuaishou can position itself for continued success in the dynamic and evolving livestreaming e-commerce market.
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Case Description
As a leading short-video social and livestreaming app in China, Kuaishou Technology's Kuaishou application (app) was facing various challenges, including fierce competition from ByteDance Ltd.'s Douyin. In June 2018, to sustain its long-term growth, Kuaishou needed to evaluate the possibility of entering the livestreaming e-commerce market, as livestreaming was becoming one of the hottest ways to sell to Chinese consumers. The co-founder and chief executive officer of Kuaishou Technology needed to decide whether Kuaishou should launch a livestreaming e-commerce business. If so, should Kuaishou cooperate with an existing e-commerce platform or build its own e-commerce ecosystem? What potential challenges might Kuaishou face in its livestreaming e-commerce business expansion?
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