– Do live streamers know how to keep their online selling well under such bad situation
– Do consumers know how to buy conveniently without going out
SHANGHAI, Jan. 21, 2021 /PRNewswire/ — A new e-commerce model create great condition for consumers—- live streaming shopping. In 2020, live streaming shopping industry develop rapidly in China, bringing great economic benefits to China. In the fourth quarter of 2020, the number of live streaming users reached 627 million, accounting for 64.3% of all Internet users, up 2.28% from the third quarter. Moreover, the users of live streaming shopping reached 364 million, accounting for 58.1% of the overall live streaming market. Also, about 710 million people have watched the live streaming shopping, and the total sales has exceeded 760 billion RMB (117.68 billion US$), according to O’Ratings’ report.
Live streaming of e-commerce became an essential consumption channel.
At the beginning of 2020, due to the pandemic, global economic development is hindered. Many live streaming platforms were trying to offer innovative ways to help brands and small business sell their products and this enables customers to buy easier. And the live streaming shopping has attracted many large brands and celebrities to participate. As more and more businesses flood into the live streaming industry, some problems were exposed. However, after a series of policy releases and rapid adjustments, coupled with various holiday promotions at the end of the year, the live streaming shopping ushered in a small upsurge again.
E-commerce occupied the main live streaming industry
In the past, entertainment and games occupied the main live streaming industry. After catching up for three quarters, e-commerce surpassed entertainment and games in the fourth quarter, occupying a major position in live streaming.
Besides, O’Ratings also mentions three interesting findings.
- The ratio of male to female users is 3:7 for live streaming of e-commerce, while female users account for 76.9% of spending that. Beauty products, food, clothing and fresh food are top 3 of products that women prefer to buy, while home appliances, computers, food and clothing are top 3 of products that men prefer to buy.
- The main consumers of live streaming shopping are between 30 and 39 years old. Data shows their live streaming consumption reached 236 billion RMB (36.54 billion US$), with about 1.485 billion transactions, and the average price of each transaction was 179.3 RMB (27.76 US$).
- Live streamer of shopping has become one of the most widely accepted professions. People from their teens to their sixties can be live streamers. Most of them are in their 20s and 30s. Also, the types of live streamers have become diversified. Different from the traditional live streamers of game, which are mainly ordinary people, live streamers of e-commerce include web celebrities, industry opinion leaders, stars, hosts, enterprise executives, experts, manufacturers, shopping guides and so on.
* Data from O’Ratings, an independent third party live streaming monitoring institution. The monitoring time is from 0:00 on October 1, 2020 to 23:59 on December 31, 2020, and the live streaming programs on all live streaming platforms in China are measured. The five indicators are used to evaluate each live program: live streaming ratings, peak viewers, market share, sales index and engagement index.