Impact of Livestreaming on E-Commerce Sales: A 3-Trillion Peso Industry
Worldwide livestreaming e-commerce has an estimated 440B RMB market worth back in 2019—it’s approximately $63 billion USD or 3 Trillion Pesos (according to financial service firm in China, Everbright). Think about those figures for a minute and take a look at the possibilities, if your brand hasn’t started to add livestreaming as a marketing option just yet.
In China, Taobao Live (livestreaming channel of Alibaba) leads the pack; while Lazada and Shopee are the main go-to brands in the Philippines and Amazon’s Twitch leads in the United States.
What are these brands doing well that’s created such a huge impact for e-commerce revenues? Here are some tactics that helped boost sales from livestreaming platforms: