Have you ever purchased products via live streaming shopping? Since the epidemic of covid-19 sweeps across the world in 2020, we have added an intuitive way for consumers to shop online. To promote our brand/service, and also reinforce the relationship with our cooperative customers. EuroPass team added the live streaming’s access to our mini-program.
What’s the live-streaming?
Live streaming shopping refers to a new kind of e-commerce service model, by using a live streaming module through certain social media platforms. Live streaming shopping can provide a close-range merchandise display, consultation, and real-time reply, as well as a virtual shopping guide. It can be set up by the live streaming room of the store or promoted by professional anchors. Live streaming is not just more kindly and interactive but also shortens intermediary channels such as resellers. Live-commerce realizes connection directly for products and consumers. To sum up, could offer a price more favorable to customers, and enhance the selling efficiency for merchants.
The advantage of live commerce
The advantage of live streaming shopping is to maintain interaction. Familiarity, and confidence between consumers and sellers, while ensuring the presentation of merchandises’ details. Sellers could serve customers in one-to-many way and give them a price lower than general commerce.
The trend of live streaming and live commerce in China
Since 2016, live streaming has accelerated its penetration in all areas in China. “Live + entertainment” such as live programs and live games have attracted a large number of users and made a profitable profit. Live streaming in e-commerce does not make a profit through rewards and advertising directly. It gains profits through the anchor’s recommendations that link to the products’ pages. The continuous transformation could be achieved from the most cost-effective merchandise. Since 2017, the e-commerce platforms such as Taobao, Douyin (Tik Tok), and Kuaishou have successively launched live streaming and live commerce. All of these new services can satisfy customers’ needs of entertainment, emotion, and shopping. Moreover, live streaming and live commerce can help the group of consumers who do not have enough time, or who have doubts about the merchandise to select perfect products.
Until June 2019, the profit from the live streaming shopping in China reached 433 million yuan (55 million euros), which represents 50.7% of all netizens. Live streaming shopping of Taobao, the GMV (Gross Merchandise Volume ) of Douyin (Tik-Tok), and Kuaishous’ e-commerce have all exceeded their target. It deserves to mention that Taobao’s live-streaming profit exceeded 400 billion yuan (50.8 billion euros) during this special situation. Besides that, as one of the most popular applications in China, WeChat is still a new player in the live streaming domain. From all facts mentioned before, China has great potential for the live streaming and live commerce market.
Live streaming in our mini-program
In our two latest live streaming activities (the tour of the Arc de Triomphe on 03/04/21 and the nival tour in Saas-fee in Switzerland on 03/17/21). We invited some “KOLs (Key Opinion Leader )” to animate our live streaming shows and achieved great success.
The main goal of our live streaming activities is to present the famous European attractions. During the live streaming, we conducted real-time communications with our audience and show them the real view of the sceneries. EuroPass hopes to promote products and services through this intuitive way and attract more people to visit the destination in the future. Moreover, live streaming is also an efficient monetization tool that can connect with the e-commerce platform. Because of this, EuroPass carried live streaming and live commerce on our mini-programs of WeChat, by proposing the destination souvenirs, online ticketing reservation and peripheral merchandise etc.
Know more things about the Chinese industry analysis, please click here: https://europasschina.com/zh/category/blog/industry-analysis-and-market-research-in-china/