![]() However, the emphasis placed on cash-based incentives has changed the focus of the tradition into a monetary venture. Traditionally, Lunar New Year carries themes of reunification and strengthening relationships. This in turn drew more people to WeChat accounts and use the red envelope function, increasing the user base. The growth of WeChat led some companies to use the WeChat's red envelope platform to market their brands, giving away cash or coupons to the public. It is estimated that 100 to 200 million clients with their bank details have begun using WeChat. To send or receive money in the app, users need to link their bank accounts to WeChat. Achievement Market Shares Open the Potential Market Specifically, they changed the application to generate an image with a number which could be shared on WeChat, prompting one's WeChat friends to download and open Alipay Wallet and type in the number to redeem the money. Alibaba then changed their application to require more direct interaction with Alipay Wallet if a user wanted to give the "lucky money" to their WeChat friends. Shortly afterwards, WeChat disabled the capability. Through Alipay Wallet, users were able to share Alibaba's digital red envelopes with their WeChat friends and send them onto WeChat's sharing platform Moments. Half a day after Alibaba's announcement, WeChat announced it would give away RMB500 million (around US$81m) cash and RMB3 billion (around US$484m) of e-coupons the next night. On February 10, 2015, Alibaba announced it would give away RMB600 million (around US$97m) of “lucky money” to users, with RMB156 million in cash and RMB430 million of e-coupons from merchants on its marketplaces. The competition attracted widespread attention from the public. The Red Envelope War is a financial battle between the two Internet companies competing for the mobile payment market in China. The number of shakes during the gala promotion achieved a total frequency of 11 billion and a peak of 810 million per minute. A total of 1.2 billion red envelopes, worth over half a billion RMB (US$83 million), were sent out during the promotion. During the gala, users were invited to shake their smartphones for a chance to win red envelopes. In 2014, WeChat partnered with the Spring Festival Gala and introduced the WeChat red envelope shake. On 18 February 2015, WeChat cooperated with CCTV Spring Festival Gala, the most-watched TV show of the year.From 12 February to 21 February 2015, WeChat unleashed 500 million red envelopes full of cash and another three billion virtual coupons to its users. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |