China livestreaming commerce

 

With a holder and a mobile phone, almost any place can be turned into a live steaming room in an instant. "Live streaming commerce" has set off an unprecedented wave on China's Internet.

In China, in addition to business and professional anchors, there are also Internet Celebrities, well-known ordinary people and even local government officials who personally do live streaming in order to promote the local economic development and promote the good things in the countryside. As early as the first half of 2019, some grass-roots officials have begun to have a try for livestreaming commerce. Relevant data shows that since April 2019, more than 500 County heads from more than 24 provinces have entered the live streaming room. They compete to promote their native products on the Internet, with the natural flavor from all corners of the country. These middle-aged people create a unique live streaming style with simple words and gentle eyes, which is refreshing.

Some netizens said that they usually watch the live streaming of internet celebrity and think twice before placing an order for fear of being cheated. But if it is the live streaming of county magistrate, they completely not worried about product quality problems and place an order directly. This kind of comparison is like the difference between the official media and the headline we media. Similarly, the weight on both sides is very different, the official live streaming is a dimension reduction attack, and has a natural advantage in selling goods.

In China, livestreaming commerce platforms are mainly Taobao, Pinduoduo, JD, Douyin, Kuaishou, and so on. Compared with the crazy growth of short video and live streaming in China, overseas livestreaming and video platforms are basically controlled by several e-commerce giants. For example, Facebook, Twitter, Youtube,Instagram, etc. Of course, there will be some live apps, but at present, they are not as hot as China.

In contrast, the development momentum of foreign livestreaming commerce is not as rapid as that of China, the main reasons may be as follows:

1.Foreign online celebrities don't directly look at the screen or answer the questions raised by fans in the message area like Chinese anchors. The whole livestreaming is one-way output with less interaction.

2.At the same time, overseas consumers are not as keen as Chinese consumers to shop on e-commerce platforms. Data shows that more than 95% of the transaction volume of Chinese e-commerce comes from e-commerce platforms, but more than 50% of the transaction volume in the United States or other markets comes from brand official websites or online platforms such as Wal Mart and Carrefour. The dispersion of consumers' shopping habits is also one of the factors that make it difficult for overseas markets to form a giant in the livestreaming.

3.In addition, the development of live e-commerce industry is also related to the speed of express delivery. The average delivery time in most parts of China is within 48 hours, while the delivery time in the United States usually takes five to seven working days. This long waiting time also reduces consumers' online shopping enthusiasm.

In fact, the live streaming industry is not unique in China, but it is China that can embed the live streaming industry into the capital commercial market and create a lot of dividends.

In China, many new brands are boosting sales and brand reputation through live streaming. For foreign brands, this is also a good opportunity to enter the Chinese market. If you have any idea, please contact us directly.