Speed up! This year, the live e-commerce market in China will reach 900 billion yuan.

Speed up! This year, the live e-commerce market in China will reach 900 billion yuan.

  Recently, Yin Meiying (left), secretary of the county party committee of Huimin County, Shandong Province, walked into the live broadcast room and recommended local specialties to netizens.

  The picture comes from the Internet.

  Recently, the models hired by merchants sold their clothes through live webcasting in the clothing market of Lusong European City, Zhuzhou City, Hunan Province.

  Photo by Chen Si Khan (Xinhua News Agency)

  "Which car has the highest cost performance?" "What’s the discount for booking a car?" … … In front of the camera, the anchor stood in the empty exhibition hall and answered questions from netizens in real time. This is the scene of a live car sale in Shaoxing, Zhejiang Province recently.

  Recently, workers from all walks of life, including shopping guides, corporate executives, fitness coaches, bank tellers and even mayors and county heads, have turned into anchors and boarded the screen, becoming a new landscape in economic and social development.

  "live broadcast fever" helps "cloud return to work"

  During the epidemic prevention period, "house" became the normal state of most people’s lives. In this case, many entities and stores regard live broadcast as the first choice for "cloud resumption of work" — — Thousands of shopping guides in Yintai Department Store turned into "Cloud Cabinet Sisters" to bring goods live, and the number of consumers who served a shopping guide live for three hours was equivalent to the passenger flow received in the previous six months; FAW-Volkswagen organized the heads of several departments to launch the "executive live broadcast group", which broadcasted dozens of games in Tik Tok to introduce the highlights of products, sales policies and how to repair and maintain products. Merchants in Yiwu small commodity market concentrated on "opening the market in the cloud", greeted consumers all over the world in Taobao live broadcast room, and went to a lively "online rally" … …

  In the service industry, shopkeepers rely on live broadcasts to show their magical powers and retain customers. Restaurants rely on online "chef live broadcast" to maintain "fireworks". In the live broadcast, customers interact with chefs and even mix their favorite tastes. Gyms and dance classes guide students to exercise at home through live online teaching.

  Many e-commerce platforms have also launched a new model of "live broadcast+helping farmers". In Hainan, Jiangxi, Zhejiang and other places, some mayors and county heads personally appeared as "anchors" on the Internet platform and personally "brought goods". Some banks promote loan business to small and medium-sized enterprises in the live broadcast, which not only introduces the application method, but also sets up questions and answers, lottery gifts and other links.

  According to the data released by Taobao, the number of new live broadcast merchants on the platform increased by 719% in February this year, and about 30,000 new live broadcast merchants settled in every day. The total order volume of live broadcast merchants increased at an average rate of 20% per week, and the transaction amount doubled compared with the same period last year.

  No sooner had the curtain of spring recruitment started than exciting news came from a vocational college in Yunnan. The graduates majoring in live broadcast in this school found jobs in advance, which became a microcosm of the current "live broadcast fever".

  Expand the business radius of traditional industries

  Since the outbreak, enterprises and businesses that rely on offline customers have suffered a huge impact. On the one hand, due to the actual needs of epidemic prevention and control, many stores choose to temporarily suspend business; On the other hand, in order to reduce the risk of infection, consumers mostly stay at home. Even if the merchants open their doors, they will face the dilemma of scarce passenger flow. Opening up new sales channels and exploring digital transformation have become a subject that many enterprises must face in the predicament.

  According to data from Ai Media Consulting, the total scale of China’s live e-commerce industry reached 433.8 billion yuan in 2019. It is estimated that the number of users of online live broadcast in China will reach 524 million this year, and the market scale will exceed 900 billion yuan. As one of the hottest emerging business models last year, live e-commerce ushered in a new development climax during the epidemic prevention period.

  On the one hand, it is the stagnation of offline consumption caused by the epidemic, on the other hand, it is the recovery of online market under the accumulation of demand. E-commerce live broadcast has become the core hub connecting "suspended business" businesses and "staying at home" consumers. A staff member of ByteDance pointed out that live broadcast expanded the business radius of traditional industries in time and space. Many traditional industries seized this opportunity, greatly reduced the losses caused by the epidemic and even found new growth opportunities.

  According to Han Dongyuan, executive vice president of Pinduoduo New Agricultural and Rural Research Institute, during epidemic prevention, consumers pay more attention to the safety and convenience of shopping. One of the benefits of live broadcast is "what you see is what you get", which can help consumers build an intuitive trust in product quality; At the same time, the live broadcast turns one-way purchase into two-way interaction, and the communication is more temperature and interesting, which increases the appeal to consumers. In particular, the current "live broadcast+helping agriculture" provides a new model for the docking of agricultural products production and marketing.

  The supervision of "live stream economy" needs to be strengthened

  In the lively "live broadcast with goods" market, a successful live broadcast is not easy, and it needs multi-party cooperation to achieve it.

  In order to help offline businesses better "open the market in the cloud", major e-commerce and short video platforms have thrown olive branches. As early as February 10, Taobao Live announced that all offline merchants in the country can settle in at zero threshold and use operating tools for free. The data shows that more than 10,000 new anchors go to Taobao University to study live broadcast operations every day. Tik Tok, Aauto Quicker and other platforms have also launched preferential measures, offering free online live broadcast and sales services for all offline enterprises and businesses, and boosting live e-commerce business in various industries. The major logistics companies gradually resumed operation, which provided a guarantee for the new e-commerce format of "online live broadcast and offline logistics distribution".

  At the same time, the booming "live stream economy" also needs to be controlled, otherwise it will easily lead to a crisis of confidence. In January this year, among the top ten public opinion hotspots of consumer rights protection in 2019 released by China Consumers Association, the challenge of rights protection brought by the new consumption scene represented by "live stream economy" attracted people’s attention. Some merchants or anchors are suspected of exaggerating publicity and marketing, and "famous products" become fakes, and "good goods" become "parallel imports", misleading many consumers.

  With the upsurge of "live stream economy", it is even more necessary for major platforms to improve the content audit and credit evaluation mechanism to restrain the behavior of merchants. Supervision and law enforcement departments should strictly crack down on false propaganda, increase the cost of fraud and safeguard the legitimate rights and interests of consumers. For merchants and anchors, honest management can truly seize the slogan and bonus of "live stream economy" and realize their long-term development.

  In the long run, with the continuous maturity and development of new technologies such as 5G and virtual reality, the value of "live stream economy" in the future is expected to be further highlighted. Insiders pointed out that the "live broadcast" of water testing in traditional industries is not only an expedient measure during epidemic prevention, but also an important step towards the online development trend. Under the new challenges, all industries need to actively embrace changes and cultivate live broadcast paths in line with industrial development in practice.

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