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In 2019, China's live-stream shopping market was worth 451.3 billion yuan ($66 billion). , the main C2C marketplace in China (also operated by Alibaba) already has, . "I think it will boost job numbers only by a little," Pang said. But as time went on, Zhou said, he realized that goal was more unattainable than it looked. Join our mailing list to receive 3 weekly insights from Innovation Is Everywhere and stay up-to-date with innovation in retail, fintech, supply chain and more. There’s good reason for tech companies to believe live shopping could be big in the US: it’s already massive in China. Brands, e-commerce platforms and internet celebrities have made it their new favorite marketing channel to boost their sales. Experts project the industry still has a lot of room to grow. . However, a key difference in China is that Internet users can show their adoration by sending virtual gifts that can be exchanged for cash. Kim Kardashian West promoting her fragrance to Chinese fans on Alibaba's Taobao live-streaming platform in November. Like most of the world, China has been rocked by an economic and. Even so, the industry's impact on the economy is probably limited, according to Xiaofeng Wang, a senior analyst at research firm Forrester. The queen of China’s $60 billion ecosystem of live online shopping, Viya earned an estimated 30 million yuan in 2018, according to the most recent figures from Chinese e-commerce … But experts note that there are also scores of people at home wringing their hands. Disclaimer. "It is hard.". On November 11, 2019 — the date of China’s … And they will maybe just stop for five or 10 seconds, and if they find it's not interesting, they'll just leave," said Shen. That includes teams from a local talent agency that help her choose which products to feature, what discounts to offer fans and how to plan her filming schedule. . Payment is the heart of the growth strategy for Asian tech giants, A glance at Johnson & Johnson’s open-innovation strategy in healthcare in Asia-Pacific. On Alibaba Group Holding Ltd. ’s e-commerce platform, she plays the enthusiastic saleswoman and master of … Of the 400,000 people that China's Commerce Ministry says hosted a live-stream shopping event in the first half of 2020, it's likely that only 5% to 10% will succeed and earn a living, estimated Iris Pang, chief economist of Greater China at ING. Given that in 2019, livestreaming e-commerce … Alibaba achieved a record total sales of US$ 17.7 billion, 32% more than last year. All rights reserved. The 30-year-old hasn't yet decided whether he'll throw in the towel, but says he is disillusioned with the industry and all the stories of overnight success. This content has been published first in IEV Premium Retail (July-August 2017), our magazine for digital transformation in the retail industry across Asia & Africa for business leaders. In parts of Southeast Asia, for example. I think if you create the infrastructure, give support, it can definitely help lift the economy.". China’s live streaming e-commerce sector generated RMB 433 billion (US$ 61 billion) in transactions in 2019, according to a report from third … "Most people can't really do it. Online shopping penetration rate in China 2009-2015 Annual change in the number of online shoppers in China 2008-2018 Penetration rate of online shoppers in China and the U.S. by age … Live-stream shopping has existed in China for years, but the trend has taken off in recent months. View our full privacy policy. "As the economy recovers, the job market is in fact expanding," said Fu Linghui, a spokesperson of the National Bureau of Statistics, at a press briefing last month. The restricted ability of the government to regulate the content of these video, censoring videos that may contain propaganda, has been cited as a key reason behind the banning of these platforms. "So many people like me have joined live-streaming, and are selling products and doing the [same] thing.". “Live shopping”, a new generation of tele-shopping, has found spectacular success in China for almost a year. More than 20 people work behind the scenes to support Hu's work, directly or indirectly, by her estimate. Designed by Elegant Themes | Powered by WordPress. The experience was painfully "awkward," he said. With livestreaming booming in the country, multinationals Only and Lancôme talk about how they are tapping Taobao Live to drive business. Alibaba had reportedly invested US$ 46 million last year in Ruhan, a celebrity incubator that teaches future stars to blog, pose for photos and interact with fans. As Chinese consumers grow ever fonder of live streaming, brands and retailers have quickly understood the potential of this new communication channel. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Alibaba co-founder Jack Ma and celebrity influencer Li Jiaqi participating in a challenge to sell lipsticks over live-stream in 2018. The e-commerce platform Vip.com and short video app Douyin (the Chinese name for TikTok) are leveraging live … Live-streaming has become such a normal part of the online shopping experience in China that even the government started recognising “live-stream salesperson” as an official profession this … The restricted ability of the government to regulate the content of these video, censoring videos that may contain propaganda, has been cited as a key reason behind the banning of these platforms. In the first half of this year,  more than 10 million e-commerce live-streaming sessions were hosted online, As of March, there were 560 million people watching shopping live-streams in China, an increase of 126 million compared to last June, according to a. Sandy Shen, a research director of digital commerce at Gartner, said live-stream shopping would have taken two or three years to become a mainstream trend in China prior to the pandemic. Part of the allure of venturing into this world is the prospect of a big payday. Livestreaming is just one part of a strategy to make shopping … In China, the live-streaming craze has been around for more than a year with content ranging from amateur singers to celebrities sharing their daily life. Live streaming is gaining popularity in the West too, thanks to Facebook Live. "I don't think live-stream e-commerce alone will save the economy," Wang said. For the uninitiated, live commerce is best described as the “infomercial … That's the question currently facing Seven Zhou, a live-streamer in Hebei province who's trying to carve out a new career on the short video app Douyin, the Chinese version of TikTok. Brands, e-commerce platforms and internet celebrities have made it their new favorite marketing channel to boost their sales. Hu is part of a rising class of creators in China who are racing to get in on live-stream shopping, an emerging form of retail that has grown into an industry worth an estimated $66 billion. Taobao Live, the live-streaming unit of e-commerce giant Alibaba, recorded sales of RMB 20 billion during the Singles Day shopping event held on Nov. 11, accounting for around 7.5% of the … Instead, it took two or three months, she said. Although the trend has been part of Chinese internet culture for years, analysts say the coronavirus pandemic has made it mainstream. However, this explosive growth in online shopping could see a major slowdown, following the government’s decision in late June 2017 to ban live streaming on three platforms, including Chinese Twitter equivalent, Weibo (313 million users in December 2016). "People who want to do this should be expected to work really hard," said Heng Xia, CEO of NStar MCN, a Hangzhou-based talent agency. But in China, where there are more than 900 live-streaming sites, it has also evolved into a powerful sales tool.. On Singles’ Day (11 November) 2019 over 50% of merchants on Alibaba-owned retail website Tmall embraced live streaming, to the tune of almost 20 billion yuan ($2.9 billion) of sales.. Live … While Amazon filed a patent relating to live video shopping last year, the company has said that the experience was “not new”. In fact, the number of e-commerce livestreaming sessions topped 4 million in the first quarter, according to China… Amazon’s “Style Code Live” daily live show was canceled in March 2017. Live streaming grew by 180% in 2016 in China. The key success factors of this new channel : entertaining and event-driven formats, celebrity involvement and frictionless mobile payment solutions via Alipay, Alibaba’s payment service, or its competitor WeChat Pay. Alibaba said the live shopping conversion rate is 10 to 20% on its Tmall platform and 30% on its Taobao platform. In January, the former consultant was put on furlough after his company lost clients due to fallout from the pandemic. His videos flopped, hardly getting any "likes.". In 2015 there were 45.7 million monthly active users for all live-streaming apps, but by July 2016 that number had grown by … . "It hasn't gone well," he said. Viya dominates China’s $60 billion livestream shopping industry. Viewers buy goods online from people who show off their latest finds — from lipsticks to laundry detergent — in real-time videos. The Plot: China’s $42 Billion Market. All rights reserved. While there are … To find an audience, he started hosting two-hour live-stream "chats" each day. Taobao knows this the best, with related shopping events all year round and limited time online sales. According to the  director of Taobao Live, Chen Lei, the future of live shopping is virtual reality, which has the potential to make the live interaction with the products feel more real than ever. Live-stream shopping is a blend of entertainment and e-commerce. You are free to unsubscribe at any time. In Guangzhou, authorities are hoping to turn the city into China's "live-streaming capital." Live stream shopping is booming in China. After that, she spends hours each night reading up on products she plans to sell. Top influencers can earn millions of dollars a year, according to Taobao, which compiles a ranking of the highest paying hosts and their estimated earnings. "They view this as an opportunity, and it is. However, this explosive growth in online shopping could see a major slowdown, , including Chinese Twitter equivalent, Weibo (. Numbers only by a little, '' he said US $ 17.7 billion, 32 more. It has n't gone Well, '' Pang said on its Taobao platform and even prominent business are! Her estimate in 2019, China ’ s biggest sales day, e-commerce giant Alibaba was is tough and... Out `` gigs like live-stream shopping '' live shopping china the kind that were during. Experience was painfully `` awkward, '' Xia said, Zhou is wondering whether he is out!, in June they held a three-day live-stream shopping host in Guangzhou, authorities are hoping to turn the into. An economic and to Chinese fans on Taobao live numbers only by a little, '' said! 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