Alibaba’s Taobao is predicting that livestreaming will be the next big thing in e-commerce. The e-commerce giant reports, quoting figures from Deloitte, that China is the largest livestreaming audience in the world, at 456 million people, with the medium racking up sales of US$4.4 billion in 2018.
Taobao generated more than RMB 100 billion in gross merchandise volume via livestreaming, growing 400 percent year-on-year in 2018. More than 100 livestreamers earned a monthly income of RMB1 million and over, the company’s figures reveal and the number of registered livestreamers has grown 180 percent over the last 12 months. The most popular product categories are apparel, jewelry, food and beauty.
“We are defining a new industry,” said Chen Lei, Director of E-commerce at Taobao. “This industry will become more competitive, more and more people will join, and we will see a greater variety of content.
“We will continue to focus on the consumer-goods category, while bringing livestreaming even closer to users by enriching our platform and making it even more simple, efficient and warm,” he added.