Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Factset: FactSet Research Systems Inc.2018. As Chinese consumers grow ever fonder of live streaming, brands and retailers have quickly … Competitors such as live streaming app Huya have also raised US$ 75 million in April 2017 whilst another competitor Huajiao raised US$ 45 million in September 2016. Céline is managing digital strategy, innovation and digital transformation projects for Fortune500 clients of Innovation Is Everywhere, as well as the digital marketing of the agency. Alipay and WeChat Pay, with respectively 450 and 600 million active users, are making it very easy to pay while watching video on mobile. 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. Estimated revenue per hour generated by different channels of communication in China in 2016 (Kleiner Perkils, Hillhouse Capital). [In this job,] you need to talk a lot, because your mood is contagious. Even Chinese President Xi Jinping has taken notice. His videos flopped, hardly getting any "likes.". The queen of China’s $60 billion ecosystem of live online shopping, Viya earned an estimated 30 million yuan in 2018, according to the most recent figures from Chinese e-commerce … Live-stream shopping grew out of the larger live-streaming movement in China. Alibaba achieved a record total sales of US$ 17.7 billion, 32% more than last year. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Hu, 27, is an influencer, with a twist. And even prominent business leaders are getting in on the act. 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 … Some local governments are even working to transform their towns into live-stream shopping hubs. "The system isn't as simple as it seems.". In January, the former consultant was put on furlough after his company lost clients due to fallout from the pandemic. 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 … Livestreaming is just one part of a strategy to make shopping … 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 … "For the government, they see this as a trend that can help keep the economic growth, and also help keep the employment," said Shen. In the West, a similar concept was launched in the form of a daily live shopping program “Style Code Live” by Amazon, in March 2016, but was canceled after just one year of broadcast. Alibaba co-founder Jack Ma and celebrity influencer Li Jiaqi participating in a challenge to sell lipsticks over live-stream in 2018. But as Hu and other newcomers are discovering, making it in this field is not easy. Alibaba’s “See now, buy now” fashion show on its Tmall platform on November 11, 2016, The live-streaming service of Taobao, the main C2C marketplace in China (also operated by Alibaba) already has more than 10,000 celebrities reviewing beauty, sports, food and baby products, making shopping a real entertainment experience for the new generation. 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. All rights reserved. In May, the Ministry of Human Resources and Social Security even added "live-streaming host" to its list of recognized professions, meaning the government would start counting those people as officially employed. In parts of Southeast Asia, for example. Only when you talk enthusiastically can you get your audience excited.". . Everbright Securities research has shown that 80 percent of livestreaming purchases in 2019 happened on Taobao Live, the first livestream e-commerce channel in China. In fact, the number of e-commerce livestreaming sessions topped 4 million in the first quarter, according to China… 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). For shopping in China, Guangzhou’s Shangxiajiu Pedestrian Street is … , ahead of mobile games, television, radio, videos and music. Instead, it took two or three months, she said. 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. "They view this as an opportunity, and it is. In 2019, China's live-stream shopping market was worth 451.3 billion yuan ($66 billion), according to iResearch, a Shanghai-based market research firm. We've hired many new graduates, and some of them couldn't make it.". She typically spends seven hours a day speaking on live-stream to her fans, offering deals on everything from vacation getaways to snacks to skincare products. Analysts predict the trend could catch on overseas, too. He singled out "gigs like live-stream shopping" as the kind that were "vital" to stabilizing the market. "So many people like me have joined live-streaming, and are selling products and doing the [same] thing.". But the hours can be grueling. While Amazon filed a patent relating to live video shopping last year, the company has said that the experience was “not new”. Most stock quote data provided by BATS. Many liken the concept to TV shopping channel QVC, but the Chinese model is distinctly more modern, mobile and interactive. ... Why Does E-commerce Live-Streaming Work So Well in China? They are now selling directly to consumers via what can be hours of live video. "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. 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. Designed by Elegant Themes | Powered by WordPress. "I don't think live-stream e-commerce alone will save the economy," Wang said. View our full privacy policy. "It hasn't gone well," he said. Investments in these live video platforms have multiplied in recent months. Chinese celebrity Dayi Zhang, owner of a shop on the Taobao e-commerce site, achieved a revenue of 2.7 million euros in 2 hours of live streaming. Hu quit her job this year to pursue her dream of becoming an online star. 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. It’s already happening in China, where it’s fuelling a huge new industry in live … To that end, in June they held a three-day live-stream shopping "festival," where businesses. "Most people can't really do it. She said it was hard to predict how many jobs had been added to China's economy so far because many people working in this field were not full time. China clearly has had a head start in e-commerce innovations. . Her husband helps out with odd jobs and occasionally pops up on camera, too. The first two develop content that engages potential customers whilst payment capabilities enable the final purchase. I think if you create the infrastructure, give support, it can definitely help lift the economy.". In 2015 there were 45.7 million monthly active users for all live-streaming apps, but by July 2016 that number had grown by … That could more than double to … Similar to TV shopping channels but with a faster route to checkout, "live shopping" was popularized by Alibaba Group Holding Ltd.'s Taobao, China's largest e-commerce platform. Taobao knows this the best, with related shopping events all year round and limited time online sales. 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. "Every day I wake up, I work, work, eat, work, and sleep," she said. Tencent, the creator of WeChat, is planning to pour money and resources worth US$ 294 million into its own live-streaming platform Now Live. Like most of the world, China has been rocked by an economic and. 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. Hu and her team make money, meanwhile, through a couple of avenues: The companies pay for their products to be featured, and then Hu earns a commission off of each sale she makes. The experience was painfully "awkward," he said. At its last Singles Day, China’s biggest sales day, e-commerce giant Alibaba was. Ali Express. E-commerce is steadily invading these videos, regardless of whether it is via a fashion show or internet celebrities reviewing the latest cosmetic products via video; enabling Internet users to buy what they see on the screen in real time. (Source: Everbright Securities) Taobao Live. 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. Few viewers stopped by his channel. A typical commission rate varies from 6% to 16% depending on the platform, according to the iResearch report. Hospitality in Asia : Hotels and Startups Are Reinventing Accommodation, Shajgoj, a online community platform for Bangladeshi woman, in Bengali language, BRICS series #5: Remitix, a South African solution for cheaper remittances. Live streaming is gaining popularity in the West too, thanks to Facebook Live. China’s Social Credit Score: how can companies leverage on these 3 digits? The total scale of China’s live streaming e-commerce industry reached RMB 433.8 billion in 2019 and is expected to double by the end of 2020. Hu said she now earns in a month what she used to make in a year. , the main C2C marketplace in China (also operated by Alibaba) already has, . Viya dominates China’s $60 billion livestream shopping industry. There’s good reason for tech companies to believe live shopping could be big in the US: it’s already massive in China. Competitors such as live streaming app Huya have also raised US$ 75 million in April 2017 whilst another competitor Huajiao raised US$ 45 million in September 2016. This live video is important in the context of rapidly growing numbers of mobile shoppers (around 500m on Taobao) who each engage multiple times a day with the Taobao app for an average of around half an hour. Brands, e-commerce platforms and internet celebrities have made it their new favorite marketing channel to boost their sales. Brands, e-commerce platforms and internet celebrities have made it their new favorite marketing channel to boost their sales. All rights reserved. "I think it will boost job numbers only by a little," Pang said. Live streaming in China is a mix of product education and entertainment. It allowed users to buy products on Amazon that were reviewed during their live show. Live-stream shopping has existed in China for years, but the trend has taken off in recent months. Tencent, the creator of WeChat, is planning to pour money and resources worth US$ 294 million into its own live-streaming platform Now Live. 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. Brands routinely announce tens or hundreds of millions of dollars in sales in a single sitting. "It shouldn't be big enough to move the needle.". 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 … Innovation Is Everywhere does not share or sell your personal information. 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. Chinese President Xi Jinping talking to a live-streaming host during the set-up of a live shopping session to market local produce in Jinmi, Zhashui county, northwest China's Shaanxi province in April. "It is hard.". As Chinese consumers grow ever fonder of live streaming, brands and retailers have quickly understood the potential of this new communication channel. ", "Viewers might have doubled, but there's probably about seven or eight times more new live-streamers now," she estimated. Eight months on, Zhou is wondering whether he is cut out for this business. 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. More than 20 people work behind the scenes to support Hu's work, directly or indirectly, by her estimate. The Plot: China’s $42 Billion Market. China’s live stream shopping model may have grown its roots from the model of home shopping channels, but it offers an experience that no other outlet can compare to. including Adidas, Burberry and Gap, on its Tmall platform. You are free to unsubscribe at any time. The industry is tough, and few workers can parlay their skills into a successful career. She noted that live-stream shopping is still a very small percentage — estimates suggest around 5% — of the country's e-commerce market, and a tiny share of the overall retail sector. While there are … Singles Day also marked the take-off of the “Entertainmerce”, combination of entertainment and e-commerce. 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