Chinese developers turn to viral mobile app TikTok to reignite property sales
With some resorting to offering virtual consulting services and providing massive project discounts
Chinese property developers have been hit hard by the economy and the COVID-19 pandemic. To recover their losses, some have decided to re-evaluate their marketing strategy and turn to unconventional means of attracting buyers, particularly focusing on the viral video-sharing platform TikTok, reported South China Morning Post.
Among them is Beijing-based builder Modern Land (China) who have been live-streaming their sales pitches to potential buyers in the comforts of their own homes.
“Let me know what song you like and I will sing it for you,” said sales agent Wang Yufei after showcasing one of their developments on TikTok.
“The three-layer filter in the central ventilation system can effectively screen viruses, dirt and bacteria in the air. If you are interested in our homes, or have any questions, just add me on WeChat.”
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Her TikTok is post is just one of the measures adopted by developers who are worried, particularly about central Hubei province and its capital Wuhan. Some have resorted to providing virtual consultants, while others, like China Evergrande, have announced massive discounts for all their projects.
“It is impossible to say that our business is not being impacted,” said managing director of Modern Land Cristiano Cui. “Construction and sales across the country have been suspended for about 25 to 30 days. In Hubei, the fastest we could possibly resume is at the end of the second quarter.”
Early last week, the National Bureau of Statistics revealed that home sales value plunged by around 35 percent in value in January and February compared to the year before, which is its biggest decline since 2013.
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