光大證券:阿里(09988.HK)手淘APP首頁升級 加速信息流化及視頻化
光大證券發表報告表示,據阿里巴巴(09988.HK)信息,旗下手機淘寶APP首頁將重大升級,首頁焦點圖將由橫版變成豎版,移至信息流第一幀位置;「淘寶直播」、「聚划算」、「百億補貼」及「有好貨」等頻道繼續精簡;首頁信息流位置繼續上移。
該行認為,手機淘寶APP首頁焦點圖屬典型旳CPM的展示類廣告,是阿里「鉆展」廣告產品最重要的收入貢獻來源之一,可加速推進視頻化及信息流化。隨著用戶習慣逐步視頻化、直播化、橫版圖片展示類的廣告轉化效率逐步下降。此次改版後,首頁焦點圖除橫版變成豎版外,其展示形態將由單純的圖片,升級為靜態圖片、動態創意、短視頻等多種展現形式,從而將首頁圖片類素材進一步視頻化及信息流化。
同時隨著「淘寶直播」、「聚划算」等頻道位置繼續精簡,首頁信息流產品的位置繼續實現上移,使用戶在首頁第一屏即可進入信息流產品中,從而進一步將流量向信息流產品傾斜,加強手淘APP「逛街」屬性。該行認為,「雙十一」將成產品改版升級最理想的試金石。
光大證券稱,隨著手淘APP首頁改版的逐步落地,認為淘系產品的視頻化、信息流化將繼續加速,平台流量將進一步向個性化推薦傾斜,提升人貨匹配效率及流量轉化效率,從而在中長期提升總交易額的增速及貨幣化率水平,維持對阿里「買入」評級。
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