Freer – stock.adobe.com
During the 5.5 Discount Festival, merchants streaming live to sale accounted for 70% of Taobao’s overall turnover, with several sectors of Taobao and Tmall achieving strong growth. The outdoor sports sector was one of the top performers, with mountain camping and picnic products both up nearly 200% year-on-year. Skateboarding, a favorite among young people, grew by 155% year-on-year. The food, fresh produce, and home grocery sectors all saw double-digit growth as well. Moreover, non-essential products such as furniture were growing thanks to live streaming.
Why it matters
Merchant Live, as a key part of the Taobao platform’s big cycle of operations, is not only an important channel for brands and businesses to promote new products, but also a base for millions of loyal users, which together with a rich ecosystem of KOLs, lays the foundation for merchants to refine their operations and do long-term business.
From March, a nationwide pandemic with multiple outbreaks brought a severe challenge to the online and offline retail sector. From the central to local governments at all levels have introduced a series of relief initiatives for small, medium, and micro-enterprises and individual entrepreneurs to protect market agents and stabilize employment.