Co-author by Jennifer
Xia
Introduction
Over recent years, live streaming e-commerce is rapidly gaining
momentum. The first live broadcast e-commerce model started in 2016
with the use of live streaming tools to bring user traffic to
e-commerce platforms for more online sales. During the decline in
offline consumption from COVID-19 in 2020, live streaming
e-commerce platforms acted as a lifeline for merchants. According
to relevant statistics, within one hour of the June 18
"618" sales event, sales on Taobao Live already reached 2
billion. During the sales period, live stream sales from Li Jiaqi
and Viya (the top two KOL live streamers in China) reached 8.5
million and 6.2 million, worth a total of RMB 2.7 billion and RMB
2.2 billion respectively. Meanwhile, "618" sales on
Douyin Live achieved a GMV of over 1.4 billion.1
