added by Sam Blumenthal · updated 2y ago
Singles Day sales to get tremendous lift from livestream events, as U.S. retailers play catch-up
- In fact, Singles Day has already produced one remarkable stat from October 21st: Alibaba sold a staggering $1.1 billion in merchandise in 30 minutes through its Taobao Live video service. That’s $36.7 million in sales happening every minute through live video shopping streams from internet celebrity influencers. To put that number in perspective, Q... See more
from Live shopping isn’t coming—it’s already here by Eric Feng
sari added
- alibaba also worked to make live commerce a key highlight of singles' day. sellers were incentivized to participate: livestreaming merchants reaped traffic. alibaba also invested in a spate of promo events, like livestreaming the annual gala and eight-hour fashion show.
from The Brazen Strategy Behind China Tech’s Growth by Rui Ma
Lillian Sheng added
- The total scale of the country's livestreaming e-commerce industry reached 433.8 billion yuan (about 65.69 billion U.S. dollars) in 2019 and is expected to double by the end of 2020, a report by global accounting firm KPMG and AliResearch showed.
from AI hosts fuel China's livestream shopping boom by China Daily
Sam Blumenthal added