Many people thought that China’s webcast party would end soon. However, the industry is continuing to grow rapidly due to factors such as the integration of webcasting and various e-commerce and entertainment platforms, and the strong demand from households and businesses during the epidemic. In the boom, many mainland technology industry leaders and entrepreneurs have also become live webcast stars, eager to cater to the strong demand for online shopping from consumers in the world’s second largest economy.
Alibaba founder Jack Ma was one of the first technology industry leaders who attracted attention in the Chinese web live broadcast market. He once had a live broadcast lipstick selling contest with a professional web anchor known as the “Big Lipstick” and participated in live broadcasts of agricultural products promotion activity.
Ctrip.com has also “trained” its co-founder and chairman of the board of directors Liang Jianzhang into a live webcast star, who wears traditional clothes to promote the company’s hotel reservation service, generating more than 20 million in a one-hour live broadcast. Sales. His efforts have provided a much-needed boost to companies affected by the epidemic. Zhang Chaoyang, the founder of Sohu, said he is considering trying to bring goods through webcast as his peers.
Luo Yonghao, whose failed smartphone business hammer caused him to go bankrupt last year, tried to redeem himself through live events. In the recent live broadcast, he sold 110 million yuan worth of products, attracting 48 million users to watch. Participating in his live event was Sogou founder Wang Xiaochuan, who promoted the artificial intelligence voice recorder.
After the epidemic crisis has led to a general economic slowdown, these developments in China’s live broadcast market demonstrate the rapid recovery potential of the technology industry. According to relevant agency data, as e-commerce and entertainment help promote such increasing applications, the number of users in China’s online live broadcasting industry reached 504 million in 2019, a growth rate of 10.6%; the number of users is expected to reach 526 million in 2020, which has been maintained. With a steady development speed, such a large user group will inevitably bring huge economic benefits.
In terms of market size, in 2019, the total scale of China’s live broadcast e-commerce industry reached 433.8 billion yuan, and it is expected that by 2020, the total transaction scale of China’s live broadcast e-commerce will reach 916 billion yuan. Industry analysts say that the market is large enough to accommodate a large number of participants.