In recent years, the live streaming industry becomes more and more popular. Especially for Live shopping, a lot of family and friends always shopping from the live stream. Sometimes I asked them why they like to shop from that, they said the products are cheap and of good quality. I also tried once, I found that live streaming has an efficient communication way, customers can express their needs in real-time and the streamer can also receive the feedback in time. In one word, live streaming is an immersive, real-time, efficient, and highly interactive new shopping method. This triggered my thought about the live stream. In this article, I will introduce e-commerce live streaming in China.
- Platforms of E-commerce live streaming
- Characters in E-commerce live streaming
- Development trend in E-commerce live streaming
Platforms of E-commerce live streaming
With the technology developing rapidly, more and more people choose to use and are committed to the live streaming industry. Among the channels there are two main platforms of e-commerce live streaming, they are Taobao and TikTok. Taobao, as a traditional e-commerce platform has rich variety of goods, relatively complete supply chain and live streaming as a tool to pull new conversion. It is mainly self-streaming by merchants. The user profiling is consumer oriented and consumers can trade directly on the platform.
The other popular platform is TikTok, which is an entertainment content platform, it has an obvious advantage of flow, with live streaming as the entry point to explore a new path of traffic realization. The Anchor category is Mainly the master anchor and User Profiling is Entertainment oriented. The products from them are always without brand names or branded goods mainly. People always need to deal Jump to third-party e-commerce platform mainly.
Characters in e-commerce live streaming
When it comes to e-commerce live streams, we have to mention the two very popular host anchors Viya and Jiaqi Li. Because behind the growth and success of these two influencers is the rise of the entire live e-commerce industry.
Viya has 17 million fans. In 2018, Taobao released the top income ranking list, and Wei Ya ranked first with an annual income of 30 million. One event in her personal live show is worth the specifications of a large party. What makes Viya successful in the e-commerce industry is her profession and uniqueness in selection. She works hard all the time and does her best to satisfy the customers’ needs. If Viya’s selection is mainly dependent on emotion and experience, the investment team’s selection relies on reason and data.
“Those things you can not imagine, she is also selling.”
Since 2016, she has been running like a never-ending machine, bottoming out with 300 live streams a year and living the US time of day and night.
Twelve o’clock after the live streaming, she has to select products, review, and dock merchants. Even if the team has been screened, she still has to pass 2, 300 kinds of goods in her hands.
Among the 365 days a year, she spends 330 days like this.
Jiaqi Li, who is famous for his excellent selling style and skill, has been ranked second after Viya. Due to his caution and hard-working, he has sold billions of goods to different customers by the e-commerce live streaming. Jiaqi Li was just a normal people before he comes into this area. But he could consider his advantages and use the style to attract customers such as “Oh My God”, “Sisters, Buy it now!”. This man knows women best and majors in the beauty expert lipstick. During one of Jiaqi’s very hot live streams, he tried a whole 380 lipsticks at once. After the live stream, Li Jiaqi’s mouth didn’t feel anything as if he had been given anesthetic. Each of Jiaqi’s live streams average more than 6 hours, often from 7pm to 1am the next day.
“Taobao now has about 6,000 anchors, with an average of about 10,000 live streams a day. As long as you take a break, your fans are likely to be attracted away by the other 9,999 live streams, and he will never come to see you again.”–Jiaqi Li
I have seen Jiaqi Li’s live stream, his language is vivid and grounded, and very encouraging, and the atmosphere of the live streaming room is also urging me to place an order to spend. Eventually, my order arrived and I had a good experience using it. This really made me approve of the lipstick number recommended by Jiaqi Li, and I think this is the reason why his live-streaming room is so hot.
Development trend in E-commerce live streaming
In terms of live-streaming with goods, 40% of surveyed live-streaming users occasionally choose to buy products recommended by celebrities/netflix e-commerce live-streaming, and the proportion of female users who choose to spend exceeds that of male users, while clothing is the most common category of live-streaming platform goods purchased by live-streaming platform users. Content verticalization or will become the main theme of competition in the online live industry, the platform will focus more on the needs of a specific user group. The trend of content verticalization in the future live industry will be more obvious, in addition to entertainment, live games, including education, e-commerce and other market segments may emerge new market opportunities
There is no doubt that live streaming e-commerce is a new industry of rapid wealth creation. It quickly creates tens of billions of wealth in a short period of time, but at the same time also faces many challenges such as business regulation and customer rights protection. With the influx of human and material resources, the competition in the live e-commerce market will intensify, and the trend of verticalization of content in the live industry will become more obvious in the future, in addition to entertainment, live games, including education, e-commerce and other market segments may emerge as new market opportunities.
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Youtube.com. 2020. Live Streaming E-Commerce – One Of The Most Efficient Way To Promote Your Brands In China. [online] Available at: <https://www.youtube.com/watch?v=1TLWV5bCbVU> [Accessed 11 September 2020].
Woshipm.com. 2019. What Is The Current Situation, Advantages And Disadvantages And Development Trend Of Live E-Commerce? | Everyone Is A Product Manager. [online] Available at: <http://www.woshipm.com/it/3474128.html> [Accessed 2019].
Now the development of e-commerce is constantly improving. One of the most popular is live-streaming. I also buy things in this way too. Because for me, I can see more directly about what I need to buy. And I can more clearer understand how to use this product. Also the price is more cheeper.But this often made me buy something I don’t need.There are also many e-commerce platforms in China, I think these apps have different advantages and disadvantages. So we don’t need to follow the trend, we need to choose a way that suits us best. Nice！Thank u!
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Yes, although we can buy cost-effective products from live streaming, these things are always unnecessary. From the perspective of users, how to avoid unnecessary consumption is also worth thinking about.
Thank you for introducing current live-streaming in China. I think it’s similar as TV shopping in the past, which was noisy and always pushed people to buy with “discounts”. But we customers never know exactly how much the products really sell, even with superficial discounts. However, live-streaming has some improvement and differences, such as interaction with customers, suggestions on how to choose suitable products and the use of high technology. Maybe live-streaming has its own target customers different from Taobao and other mature online shopping platforms, but it also has both advantages and disadvantages.
Yes, although the live broadcast can receive customer feedback in time, participating in it will feel very noisy. In addition, user rights protection and other aspects still need to be improved.