Livestreaming e-commerce is the trend of the moment as marketplaces and platforms alike began looking for better ways to engage customers. Tmall is literally leading the sector. According to data Taobao Live jumped 309% to reach 35.03 million this past year, and the number of purchased goods jumped 430% to reach 2.36 million. Over 100,000 brands and merchants used livestreaming to market their products on Singles Day this year, a new record.
According to Deloitte, in 2018, with revenue of $4.4 billion, a 32%t increase over 2017, 86 percent higher than in 2016. The number of viewers reached 456 million. Surveys said 70% of these streamers are female and about two thirds are under 26 years old. These young hosts stream everything from singing to just chatting about life. But male new kol are merging too.
Thus livestreaming is not only the ultimate entertainment format but it is also the internet’s next form of digital communication. It is coming from China to reshape the whole e-commerce industry one stream after the other. That’s why every big e-commerce player such as Pinduoduo, Xiaohongshu and more decided to embrace this trend.
How brands can maximize live streaming for successful Marketing and E-commerce in China ? And Why live-streaming is so welcomed in China?
First, livestreaming is the “go-to” option for Chinese consumers when seeking out new products and deciding on what to buy. It is an essential part of the discovery journey, unlike for consumers in Western countries.
Second, Live streaming allows experts to demonstrate the products when being used and talk through their functions in the liveliest way possible. Meanwhile, the audience can ask questions and receive explanations instantly, leading to immediate purchases. Besides, there’s a feeling of authenticity that comes from live streaming.