Your ultimate cheat sheets in getting to know this exploding Social Commerce platform.
Have you heard of Little Red Book, but aren’t quite exactly sure what it is or how your brand can use it? Read on to get up to speed in record time – all it takes is the time to read this blog post and five slides!
Little Red Book (or Xiaohongshu) is China’s largest lifestyle sharing platform. Between 2015 and 2019, it’s grown to a platform used by 200 million Chinese consumers per month (see Figure 1 below).
FIGURE 1: Little Red Book’s Growth
So what’s a “lifestyle sharing platform”? Well, it’s a little like a combination between Instagram, Pinterest and Net-A-Porter. Little Red Book helps users discover and buy domestic and overseas products, share shopping, travel and lifestyle tips and swap fashion ideas (see Figures 2 and 3 below).
FIGURE 2: The Best Way to Understand Little Red Book If You’re Coming At Fresh
FIGURE 3: An Overview of Little Red Book’s Functions
Alibaba, Tencent, Zhen Fund and GGV Capital have thrown their weight behind Little Red Book. It’s now valued at USD 3 billion.
Brands haven’t been shy in getting on board either. Currently, 8000 brands have official accounts on the platform. In a recent coup, Louis Vuitton has debuted on the platform. Brands’ confidence in Little Red Book stems from its user demographics – users skew towards relatively affluent females in first tier cities (see Figure 4). This group are trend-setters and tast-makers, sharing their experiences with the best domestic and international products and showing off their product collocations.
Little Red Book originally started out as a place to share overseas product purchases. However, it’s since extended well beyond any one type of product or category. Here at AgencyChina, we’ve had great success with brands in the categories pictured in Figure 5.
FIGURE 5: Extension of Little Red Book’s Product Categories
You can download our five-page slide deck explanation here.