Market value of live commerce in China 2017-2020
In 2019, the live streaming e-commerce market in China reached nearly 434 billion yuan, soaring from 19 billion yuan in 2017. The market size of live streaming commerce was estimated to maintain its rapid growth and double in 2020.
Live commerce in China
In November 2019, the largest Chinese online retailer Alibaba announced a 20-billion-yuan sale from its live-streaming commerce business during the Single’s Day Shopping Festival. While most of the western internet users still associated live streaming with gaming and entertainment, it had become a vastly used shopping channel among Chinese online shoppers. The number of live streaming watchers in China was predicted to hit 526 million in 2020, and shopping-related content listed as the most popular type among live streaming watchers. Live streaming commerce was not only a rivalry between online retail giants. The short-video sharing unicorns, Douyin (known as Tik Tok globally) and Kuaishou, were also popular in the market. Bridging entertainment and online shopping, live streaming has the huge potential to change the status quo and become the new norm for e-commerce in China.
Live commerce in China
In November 2019, the largest Chinese online retailer Alibaba announced a 20-billion-yuan sale from its live-streaming commerce business during the Single’s Day Shopping Festival. While most of the western internet users still associated live streaming with gaming and entertainment, it had become a vastly used shopping channel among Chinese online shoppers. The number of live streaming watchers in China was predicted to hit 526 million in 2020, and shopping-related content listed as the most popular type among live streaming watchers. Live streaming commerce was not only a rivalry between online retail giants. The short-video sharing unicorns, Douyin (known as Tik Tok globally) and Kuaishou, were also popular in the market. Bridging entertainment and online shopping, live streaming has the huge potential to change the status quo and become the new norm for e-commerce in China.
