May 27, 2021
Megan Tatum
On 11 November 2020, Chinese livestreaming platform Taobao Live sold £5.3bn-worth of goods – in less than half an hour. Granted, that particular period marked the start of its campaign for the country’s annual Singles Day shopping festival, which totalled £52bn in sales, but such an eye-popping sum is still a clear sign of the power of live shopping events in China.
Typically featuring slick interactive content enabling viewers to ask the hosts questions about the goods on show, these broadcasts are often fronted by social media influencers. Live shopping events have caught on in a wide range of sectors, selling products ranging from shampoos and skin creams to cars and even houses. In 2019, products purchased through the channel accounted for 4.1% of all ecommerce sales in the world’s second-largest economy, according to iResearch. Boosted by the pandemic, the format’s share is expected to hit 20% by 2025.