Ecmoho Ltd – ADR (NASDAQ: MOHO) is the leading health and wellness integrated solutions provider in China’s biggest market. The company recently announced that it joined hands with actress Eva Huang, the famous Chinese artist, is launching its new line of health equipment in a LIVE broadcast. The new health equipment is entitled KGC DreamCloud Smart Massage Chair and comes with comprehensive and powerful features. So far, the massage chair has attracted as many as 2 million users. Therefore, it’s pretty surprising that the chair has also achieved single-brand, single-event gross merchandise value, or GMV worth RMB 2.38 million.
Rise of social media and rising GMV
It is worth noticing that there has been a general rise in interest in social media. As a result, the GMV for goods sold through Douyin in the previous year has surged over 50 times on a YoY basis. This year, the company had organized its June ‘618’ event. The company saw a notable increase in gained market share and sales of partnership brands in the event.
An increasing opportunity for makers of health appliances
Small health appliances and equipment are much sought-after in the Chinese market, becoming the fastest-growing market. The massage-related products offer a vast opportunity for the small appliance makers. The China Economic Net stipulates that the appliance market for China’s massage products has grown to RMB 14.8 billion from RMB 4.9 billion in 2020 and 2010, respectively. However, despite that, the makers of health appliances are in flux regarding new growth opportunities. ECMOHO understands this demand and the gap between materializing it, thus making the most of marketing opportunities. Therefore, the company has been seeking newer channels of promotion of its health products.