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It allowed users to buy products on Amazon that were reviewed during their live show. On Alibaba Group Holding Ltd. ’s e-commerce platform, she plays the enthusiastic saleswoman and master of … 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. Singles Day also marked the take-off of the “Entertainmerce”, combination of entertainment and e-commerce. “Live shopping”, a new generation of tele-shopping, has found spectacular success in China for almost a year. At its last Singles Day, China’s biggest sales day, e-commerce giant Alibaba was broadcasting a “See now, Buy now” fashion show, where consumers could buy the latest clothes from over 80 brands including Adidas, Burberry and Gap, on its Tmall platform. 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. In Guangzhou, authorities are hoping to turn the city into China's "live-streaming capital." Taobao Live, Alibaba’s dedicated live streaming unit, reached record-high sales of RMB 20 billion (around $2.85 billion) during the 2019 Singles Day shopping event, or 7.5 per cent of the group’s … "Even one of the world's top influencers needs the right platform to sell into China," Alibaba said. All rights reserved. Hu quit her job this year to pursue her dream of becoming an online star. 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. Many liken the concept to TV shopping channel QVC, but the Chinese model is distinctly more modern, mobile and interactive. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. 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. "For the government, they see this as a trend that can help keep the economic growth, and also help keep the employment," said Shen. 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. Viewers buy goods online from people who show off their latest finds — from lipsticks to laundry detergent — in real-time videos. 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. China’s Social Credit Score: how can companies leverage on these 3 digits? The queen of China’s $60 billion ecosystem of live online shopping, Viya earned an estimated 30 million yuan in 2018, according to the most recent figures from Chinese e-commerce … (Source: Everbright Securities) Taobao Live. The key success factors of this new channel : entertaining and event-driven formats, celebrity involvement and frictionless mobile payment solutions via Alipay, Alibaba’s payment service, or its competitor WeChat Pay. Tencent, the creator of WeChat, is planning to pour money and resources worth US$ 294 million into its own live-streaming platform Now Live. This content has been published first in IEV Premium Retail (July-August 2017), our magazine for digital transformation in the retail industry across Asia & Africa for business leaders. According to estimates by venture capital firm Kleiner Perkins in its 2017 internet trends report, live broadcasts. Eight months ago, Meng Hu quit her job as a flight attendant in Guangzhou, China to pursue her dream of becoming an online star. "It hasn't gone well," he said. Ma Yun, better known as Jack Ma is the founder of Ali Express, the largest and topmost … This February, for example, China's Ministry of Commerce encouraged e-commerce platforms to help farmers sell their produce online, particularly through live-streaming. Since January, she's been working full-time as a live-streaming host on Taobao, "I've been talking nonstop," Hu said, laughing. They are now selling directly to consumers via what can be hours of live video. You can't just do things halfway. 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. Dubbed live commerce, this convergence of video and shopping helps improve engagement, close the gap between customer and product, drive sales, and — in cases where bidding … 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. Designed by Elegant Themes | Powered by WordPress. The first two develop content that engages potential customers whilst payment capabilities enable the final purchase. Most stock quote data provided by BATS. 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. Live streaming is gaining popularity in the West too, thanks to Facebook Live. China’s live streaming e-commerce sector generated RMB 433 billion (US$ 61 billion) in transactions in 2019, according to a report from third … Alibaba said the live shopping conversion rate is 10 to 20% on its Tmall platform and 30% on its Taobao platform. The industry is tough, and few workers can parlay their skills into a successful career. Alipay and WeChat Pay, with respectively 450 and 600 million active users, are making it very easy to pay while watching video on mobile. China clearly has had a head start in e-commerce innovations. 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. "My throat gets really hoarse. 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. 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. In March, he visited a village in northwestern China where he spoke with residents who were selling agricultural goods over live-stream, according to the state-run news agency. All times are ET. "It shouldn't be big enough to move the needle.". Live streaming in China is a mix of product education and entertainment. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 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. But the hours can be grueling. Factset: FactSet Research Systems Inc.2018. Even the Chinese government has voiced its support, calling the industry the "new engine" of e-commerce growth and encouraging live-streaming as a solution to unemployment, which has risen sharply in China due to the pandemic. It’s already happening in China, where it’s fuelling a huge new industry in live … 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. Live-stream shopping grew out of the larger live-streaming movement in China. Innovation Is Everywhere does not share or sell your personal information. The e-commerce platform Vip.com and short video app Douyin (the Chinese name for TikTok) are leveraging live … The experience was painfully "awkward," he said. We've hired many new graduates, and some of them couldn't make it.". She gave notice to the airline just before. Livestreaming is just one part of a strategy to make shopping … On the Chinese shopping holiday Singles’ Day, live streams on Taobao Live generated $2.85 billion in sales. But as Hu and other newcomers are discovering, making it in this field is not easy. To find an audience, he started hosting two-hour live-stream "chats" each day. Alibaba co-founder Jack Ma and celebrity influencer Li Jiaqi participating in a challenge to sell lipsticks over live-stream in 2018. In China, the live-streaming craze has been around for more than a year with content ranging from amateur singers to celebrities sharing their daily life. Analysts predict the trend could catch on overseas, too. Disclaimer. "As the economy recovers, the job market is in fact expanding," said Fu Linghui, a spokesperson of the National Bureau of Statistics, at a press briefing last month. Hu said she now earns in a month what she used to make in a year. Alibaba had reportedly invested US$ 46 million last year in Ruhan, a celebrity incubator that teaches future stars to blog, pose for photos and interact with fans. Other streaming services in China are adapting to get into the live commerce game. 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. In 2015 there were 45.7 million monthly active users for all live-streaming apps, but by July 2016 that number had grown by … Kim Kardashian West promoting her fragrance to Chinese fans on Alibaba's Taobao live-streaming platform in November. The Plot: China’s $42 Billion Market. , ahead of mobile games, television, radio, videos and music. In parts of Southeast Asia, for example. While Amazon filed a patent relating to live video shopping last year, the company has said that the experience was “not new”. 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. Live-stream shopping has existed in China for years, but the trend has taken off in recent months. He singled out "gigs like live-stream shopping" as the kind that were "vital" to stabilizing the market. Shangxiajiu Pedestrian Street. Live streaming grew by 180% in 2016 in China. Final Thoughts – Online Shopping in China. For people like Hu, the live-stream host in Guangzhou, the ongoing boom presents both "a chance and a challenge. In January, the former consultant was put on furlough after his company lost clients due to fallout from the pandemic. "The system isn't as simple as it seems.". 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, 27, is an influencer, with a twist. In China there are two e-commerce live streaming megastars, Li Jiaqi and Viya (real name Huang Wei). All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Her husband helps out with odd jobs and occasionally pops up on camera, too. Brands, e-commerce platforms and internet celebrities have made it their new favorite marketing channel to boost their sales. I think if you create the infrastructure, give support, it can definitely help lift the economy.". A typical commission rate varies from 6% to 16% depending on the platform, according to the iResearch report. Even Chinese President Xi Jinping has taken notice. 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. "Every day I wake up, I work, work, eat, work, and sleep," she said. "This is a high intensity job," Xia said. Ali Express. Enter live commerce: the convergence of livestreaming and e-commerce that has become China’s favorite way to shop. On November 11, 2019 — the date of China’s … Alibaba achieved a record total sales of US$ 17.7 billion, 32% more than last year. "If you are just a normal, ordinary merchant selling on Taobao, and you are just using all your own employees, with no pre-marketing, you're probably just going to have a couple of hundred people watching. "People who want to do this should be expected to work really hard," said Heng Xia, CEO of NStar MCN, a Hangzhou-based talent agency. 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. "Most people can't really do it. According to estimates by venture capital firm Kleiner Perkins in its 2017 internet trends report, live broadcasts have actually become the number one source of revenue per hour in China, ahead of mobile games, television, radio, videos and music. For shopping in China, Guangzhou’s Shangxiajiu Pedestrian Street is … Viya dominates China’s $60 billion livestream shopping industry. 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. China's billion-dollar shopping obsession, See Jack Ma's first public appearance in months, Trump administration dials up US-China tech tensions, Chinese government halts Ant Group's giant IPO, How China's Ant Group built a $17 trillion payments machine, HSBC may have to choose between China and the West, Mars is the latest arena in US-China rivalry, Hong Kong's business world divided over national security law, The moral dilemma of doing business in China, explained, China censors a lot, from Winnie the Pooh to the NBA, Why American fast food chains will do anything to win in China, according to iResearch, a Shanghai-based market research firm. [In this job,] you need to talk a lot, because your mood is contagious. 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 … 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. But shopping-as-entertainment is now reborn for a much younger audience – the smartphone generation. Shopping online on any of China’s e-commerce websites is bound to make your life in China a great deal more comfortable. All rights reserved. By submitting the information below, you authorize Innovation Is Everywhere to communicate with you about its products, services and marketing offers if it judges it relevant. . 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. 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. Hosts can give their fans discount coupons and flash deals in real time, while viewers can click to send their favorite stars virtual "gifts.". for digital transformation in the retail industry across Asia & Africa for business leaders. Amazon’s “Style Code Live” daily live show was canceled in March 2017. Hu is part of a rising class of creators in China who are racing to get in on live-stream shopping, an emerging form of retail that has grown into an industry worth an estimated $66 billion. In fact, the number of e-commerce livestreaming sessions topped 4 million in the first quarter, according to China… Top influencers can earn millions of dollars a year, according to Taobao, which compiles a ranking of the highest paying hosts and their estimated earnings. Only when you talk enthusiastically can you get your audience excited.". Like most of the world, China has been rocked by an economic and. That could more than double to … The production takes a village. This live video is important in the context of rapidly growing numbers of mobile shoppers (around 500m on Taobao) who each engage multiple times a day with the Taobao app for an average of around half an hour. While there are … Tencent, the creator of WeChat, is planning to pour money and resources worth US$ 294 million into its own live-streaming platform Now Live. After that, she spends hours each night reading up on products she plans to sell. "I think it will boost job numbers only by a little," Pang said. 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