‘Live stream’ is the trend of future sales

CHINESE Live broadcast will be popular in product marketing, because it has a form of advertising like TV but is much more interactive and entertaining.

Hai, 23, shows more than 1,000 boys a day in front of a smartphone lens, sometimes a camcorder, for live streaming. Being the owner of a pearl jewelry shop called UU Pearl, this practice along with lively referrals, many customers watch the video ordered immediately.

The two disclosures, the growth from shopping when “live streams” account for 80% of the store revenue received. On the Singles’ Day (November 11), the livestream earned 100,000 yuan (about 14,300 USD) in revenue, more than three times the normal day for his store.

“Compared to the traditional way I used to do it 2 years ago, the live stream helps merchants like me to introduce products in an accurate, detailed, and interactive way that can answer any questions near me. as immediately, “Hai said.

According to this person, UU Pearl has 3 employees alternately live stream, up to 16 hours per day according to the Taobao platform. “If we don’t follow this rule, we can do it 24/7,” Hai said.

The success of UU Pearl on the single day shows the growing importance of live streaming. According to CNN, the total value of goods traded on Alibaba’s platforms on 11/11 crashed a record last year, with 268 billion yuan ($ 38.4 billion). Of these, 20 billion yuan (7.5%) came from live streaming.
Mark Tanner, founder and CEO of China Skinny, a Shanghai-based consulting firm, said that live streaming is increasingly popular because it is a bit TV commercial, but in an interactive and entertaining way. more. “Convenience comes from clicks, and it’s fun to be directly on the screen instead of edited and drawn content. The more effective they are when the advertising is done,” he said. show by KOL (influencers) “, Tanner commented.

Working in the real estate industry, 27-year-old Zhang Jing spent between 5,000 and 6,000 yuan on this year’s Single Day. She bought some makeup, skin care and food products – things she is planning to use until mid-next year. She has been watching “live streams” on Taobao at least once a week since mid-2018.

“It’s cheaper to buy a live watch than it is to go to the Tmall store. Sometimes, you get a free gift. Also, the payment is simpler than the complicated rules on many. e-commerce sites, “Jing explained.

However, this female office worker also admitted that buying and selling made her lose control of the order. “When I watched the live stream, I often got excited and bought a lot, even though I didn’t use much after that. It was a waste but it happened often,” Jang said. “In some cases, I return the goods.”

According to SCMP, more than half of the merchants participating in Double 11 saw a big increase in sales from “live streams,” which earned a total of 100 million yuan. Data from Alibaba also shows that transactions from “live streams” have increased by 400% compared to last year. 810,000 eggs, 1.4 million tons of rice, and 76 tons of liquid detergent were sold in this batch, with more than 40% of users shopping on Tmall using their own voice.

Meanwhile, on JD.com, the amount of goods traded reached 204 billion yuan from November 1 to 11. Orders increased by 60% in big cities and 70% in other regions. At Pinduoduo, 1,000 cars of all kinds were sold in just 16 minutes. Particularly, agricultural products also achieved a 220% increase in revenue compared to last year.

In fact, the form of sales through live streaming in China comes from Western shopping trends, as a way to leverage the influence of KOLs. For example, Amazon has previously launched Amazon Live to support sales livestreaming.

China – home to nearly 1.4 billion people – is becoming a place to trade goods through the Internet and e-commerce. Some experts said, “live-stream” is attracting a large number of users in this country. In fact, the livestream here is considered a modern version of the cable TV shopping platform that was popular in the 80s.

“11/11 was originally just a ‘against Valentine’s day’ day, but now names like Alibaba are leveraging it to make it the world’s largest shopping day. It’s not just driving retailers. online, but also stores across China, “commented an economist.