CAMPAIGN ASIA - The growing popularity of live streaming apps in China points to social e-commerce as the new e-commerce. With algorithm-driven short-video apps dominating the online advertising space, here's what luxury brands need to know about the top four live streaming platforms in China.
- Douyin: referred to as TikTok's Chinese counterpart, Douyin's live streaming service pushes the KOL product seeding to the sales loop through the app's interest e-commerce model. With additional attractive features such as Douyin's VIP Room, Flagship Store, and Global Choice, the app has successfully established a business model that works simultaneously as a personal and commercial platform.
- Kuaishou: Tencent-backed Kuaishou has 578M MAU and ~$40B revenue in Q4 of 202. Coach's recent live streaming debut on the app signals an interest from brands in expanding their audience, particularly in lower-tier cities that make up a large concentration of Kuaishou users.
- YY Live: previously a subsidiary of Chinese live streaming pioneer company Joyy, was acquired in 2020 by search giant Baidu as a foray into video streaming and a push for advertising dominance in the ultra-competitive Chinese market. YY Live offers a loyal user group of paying subscribers for a large number of content creators. Hosts of the platform highlight streaming and chat features with virtual currency that is later converted into real cash.
- Taobao Live: Launched in 2016, Alibaba's short-video platform Taobao has quickly established its place as China's largest B2C platform with 840M MAU, captivating Chinese and international audiences with a mix of entertainment and commerce-related content. Paired with an ultra-fast supply chain response, Taobao makes it easy for live streamers to maximize the speed and agility of the number of products they can try on, review, and sell to loyal audiences.
by Charlotte Cai
See full article at Campaign Asia