As the rising middle-class population in China are eagerly exploring better consuming choices,business opportunities are booming for global E-commerce platforms.
Revenue in the eCommerce market in China is projected to reach US$1,117,204m in 2020 and it maintains around 8% increase yearly, according to Statista. It is not hard to imagine with a proper business model, E-commerce platforms with strong products will make a success.
Cooperating with live streaming hosts in popular social platforms is an efficient tool. Many people may hear of streaming e-commerce or live selling. It means people create their own online shopping channels on either E-commerce platforms or social network platform. It generates $60 billion in global sales in 2019 and will double this year according to Coresight. It is exceedingly popular in China. In the first half year of 2020, among the top 50 live streaming hosts nationwide in China, Tiktok and Kwai take each 20, the other 10 go to Taobao. Hosts such as Viya and Li Jiaqi were the top two. In July 2020, top 1 Viya’s sales number was 1.71billion CNY and Li Jiaqi hit a sales target of 1.275 billion.
Apart from live streaming sales mode, many brands will cooperate with KOLs who have a large scale of fans communities on different social medias. For example, a new brand starting in 2016 named Perfect Diary is ambitious to become China L’Oréal. They not only followed the traditional marketing formulas, but also paid huge resources in collaborating with many KOLs. It starts from zero and grow into a cosmetics giant at this digital age as creating topics among young people. It gained fame almost overnight.
For E-commerce platforms who are coming to explore Chinese market, GeeTest will provide extraordinary service in detecting bot traffic and maintain fluent operation during promotion campaigns.
Published By
Lola Yang
