Live stream shopping has taken over e-commerce in China. It combines the established models of QVC with influencer marketing.
According to an Internet trends report, live broadcasts have become the number one source of revenue per hour in China. This trend has a projected value of $15.9 billion dollars for 2020. With the development of Facebook Live the US seem to be adopting their own version.
Live stream shopping allows users to see products authentically. As it’s live no editing can take place. Some companies in China are basing their whole business model on this selling method. Selling platforms do take a commission of sales and it can be hard to stand out. In China alone there are over 300 million live stream viewers.
China’s main live streaming selling platforms states that they have a 50% conversion rate with their top seller pocketing approximately $4 million USD a year. This trend hasn’t reached the UK yet but it could be a big sales method by Christmas 2021.