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In China, live-stream sales success stretches from wealthy influencers to savvy farmers
- In last year’s Singles’ Day sales, China’s e-commerce platforms hit a record US$151 billion gross merchandise value, a sign that live-stream retail is booming
- While local governments and foreign diplomats are joining the trend, tax evaders and vendors of dodgy products are on notice
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“You need it!” Building to a high-pitched tone, China’s top streamer, the “Lipstick King” Austin Li Jiaqi, is trying to convince his online followers to buy a range of products from tissues to towels and toothpaste.
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“Oh my god, it’s just for you!” Li says in a live-streamed broadcast on Taobao, China’s largest e-commerce platform.
“Grab the coupon. Buy now to secure the best price,” he continues gesturing wildly. “The coupon link is only valid for 30 seconds. All girls go! Go! Go!”
Time-limited tactics are an old sales trick. And yet, combined with the charisma of live-streaming influencers, they have strong appeal for young consumers, helping to create sales records in China’s e-commerce sector.
Last year, during the Singles’ Day online shopping festival which runs from late October to November 11, the total gross merchandise value (GMV) of China’s e-commerce platforms hit a record 965 billion yuan (US$151 billion), up 12 per cent from the previous year.
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The GMV of live commerce reached 131.9 billion yuan, surging 81 per cent from a year ago, according to data provider Syntun.
On October 20, Taoboa’s first presale day, Li’s live broadcast was viewed 248 million times and raked in 11.5 billion yuan in sales. The achievements of Li, 29, a former comsmetics shop assistant, were nearly matched by Huang Wei, 36, aka Viya, a former singer, who sold 8.5 billion yuan of products online on the same day.
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