Next time you play scrabble with your friends, try this word: daihuo, the Chinese term for a new model of e-commerce.
It is quickly finding its way into modern-day English dictionaries as China is re-defining global internet influencer economy by live-streaming sales.
On various social media platforms, movie stars, cultural icons, opinion leaders and ordinary people who just happen to have a big following use their popularity to sell to their followers anything form fashion, food, beauty products to vacation packages and even rockets.
According to Taobao, live-stream channels generated 200 billion yuan in 2019. In February, when coronavirus hit China’s hard, Taobao saw the number of live-stream sessions on its app double.
Live stream shopping (or simply live shopping) has taken over the e-commerce airwaves in China, fusing stay-at-home economy with live video, content marketing, influencer marketing and entertainment value.
In comparison with celebrity endorsement in the traditional TV industry, there’s not much difference between them. Then why does live-stream become the go-to option for consumers? Here are some reasons.
Live platforms supply the authenticity that modern buyers crave. There’s no video editing or Photo-shopping, so buyers can trust that they’re seeing exactly what they’ll get.
There’s also the highly-interactive two-way conversation that shopping via television or a traditional e-commerce website can’t accommodate.
It’s as close to seeing and buying something in person as you can get without traveling to the store and handling the item yourself.
Plus, flash sales with deep discount are offered for a limited time during live-stream broadcasts, which push buyers to make impulse purchases.
Will these tactics also take off in the Western world? The answer is no. The retail ecosystem in China is very different from any other country in the world.
In China, live-stream content is already much more connected to e-commerce, very often on the same platform. Furthermore, mobile payments are not just a payment tool but a way of life in China, making online purchase very easy.
The West has yet to eliminate the use of cash and clunky credit cards with their 16-digit numbers.
However, as the coronavirus crisis makes its way across the world and millions of small retail merchants are forced to shutter their doors, they may have to try out digital tools to keep their businesses alive. Looking at how Chinese retailers and brands have handled the crisis is definitely worthwhile.
Tip: Hassle-free Beijing Guided Tours
If you don’t want to go the do-it-yourself route and prefer the hassle-free escorted tours, here are some options for Beijing guided tours:
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Further Readings
Best Time to Visit Beijing
How to plan a trip to Beijing
Top 10 Attractions in Beijing
How to Visit Forbidden City
How to Visit Temple of Heaven
How to Visit Summer Palace
How to Visit Ming Tombs
How to Visit the Great Wall of China
How to Visit Tiananmen Square
How to Visit Hutongs
How to Visit Olympic Sites
Top 10 Markets in Beijing
Top 10 Shopping Malls in Beijing
Beijing Shopping
Wangfujing Walking Street
Qianmen Commercial Street
Gui Jie ( Ghost Street) Food Street
Any questions, just drop a line.
