![]() However, strong creator fanbases means user-generated content offers a direct pipeline to sell to communities, rather than just passing-by viewers. Hosts of the platform highlight streaming and chat features with virtual currency that is later converted into real cash - positioning the social network as entertainment focused rather than strictly e-commerce. Though it doesn’t boast as many MAUs as leading platforms Douyin and Taobao Live, YY Live offers a loyal user group of paying subscribers for a large number of content creators. ![]() ![]() YY Live, previously a subsidiary of Chinese livestreaming pioneer company Joyy, was acquired in 2020 by search giant Baidu as a foray into video streaming and a push for advertising dominance in the ultra-competitive Chinese market. Though it is too early to tell the future of luxury e-commerce on the social platform, the app remains a go-to spot for millions of daily users in purchasing affordable beauty products and food. Coach’s recent livestreaming debut on the app signals an interest from brands in expanding their audience, particularly into lower-tier cities which makeup a large concentration of Kuaishou users. While luxury brands have traditionally focused their attention on apps like Douyin and Bilibili, Tencent-backed Kuaishou’s 578 million MAU and almost $40 billion revenue in the fourth quarter of 2021 is increasingly difficult for major brands to overlook. Posts on Coach’s Kuaishou account range from a few hundred likes to more than 10,000. With algorithm-driven short-video apps dominating the online advertising space, here’s what luxury brands need to know about the top four livestreaming platforms in China. After all, the gross merchandise value (GMV) of the livestreaming e-commerce industry is set to surpass 2.8 trillion RMB (roughly 438 billion USD) in 2022 and a whopping 4.9 trillion yuan (732.8 billion USD) in 2023. Outside of China, Amazon, Facebook, and Instagram have also launched their own livestreaming and selling platforms.Īs this digital trend continues to boom, social e-commerce may become the new e-commerce. Even platforms like New Oriental, a largely content-driven company featuring educational English, history, and cultural lessons, is turning an eye towards beauty products as part of their e-commerce branch. Accessible to almost anyone with a mobile device, livestreaming e-commerce offers a highly interactive and personable presentation alongside promises of exclusive deals.įrom performance art exhibitions, to video games, to one-on-one luxury consultations, more and more companies are tapping into livestreaming’s e-commerce potential. ![]() So much so, that l ivestreaming in China is now a billion-dollar industry that is only skyrocketing in growth, both in the diversity of content and number of viewers.ĭuring repeated lockdowns, consumers are flocking to their screens to see their favorite KOLs - from local micro-influencers to big-name Chinese celebrities - share product reviews and brand recommendations. The flow of the livestream has become a comforting and recognizable part of Chinese netizens’ daily routine. After a long day, you settle in with your phone in hand, finally at the best part: opening your favorite livestreaming app and tuning into your favorite host as they present beauty products and luxury items galore. ![]()
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