With the Covid-19 epidemic Fashion Trade Show and fashion industries were affected, but thanks to the online world and e-commerce, new opportunities opened up for these companies and their employees.
This continuous shift towards the online world of more and more sectors is expected to be the fastest-growing market trend in the near future. Therefore, if foreign companies want to remain competitive in the Chinese market they will have to adapt to these new tools.
WHAT IS TAOBAO LIVE?
Taobao Live is the live streaming service integrated into the Taobao App, divided into categories of interest such as food, travel, lifestyle, etc. Taobao live is first on the list by popularity and market share.
According to the latest Taobao Live data, the gross volume of goods generated by the platform has grown by 150% per year for three consecutive years. At the end of 2019, consumers spent over 350,000 hours every day viewing content on the platform. In the meantime, the newly registered accounts have almost doubled.
The use of the online video platform has continued to grow in recent months, as the brands and merchants that have suffered repercussions from the coronavirus emergency have increasingly turned to live streaming to resume business.
“The future of shopping will be more dynamic, interactive, and driven by real-time feedback. Livestreaming offers a peek into that future and new possibilities,” said Yuan, head of content operations at Taobao Live.
TAOBAO LIVE HAS BEEN A “LIFELINE” DURING COVID19
Meanwhile offline operating modes were interrupted by the coronavirus emergency, Taobao Live offered companies a way to reach a large audience, given the over 800 million monthly active users who visit Alibaba’s e-commerce sites.
In February, Taobao Live removed registration fees for small merchants. The result is that the number of subscribers to the platform has increased by 719% compared to the previous month.
Taobao Live released an initial report on its activities in China in the last few months, which have aimed above all to support small traders and to allow those who have not yet done, to access the online sales sector.
RETAILERS PROMOTING THEIR PRODUCTS
According to Alibaba group news, wholesalers, retailers, and employees across China also started opening their online stores on Taobao during this Coronavirus epidemic. Data released by the Taobao company show that online stores have increased by 300% since February.
RED DRAGONFLY INCREASED THEIR REVENUE WITH TAOBAO LIVE
Chinese shoe retailer Red Dragonfly has also chosen Taobao Live to move its online sales. Since February 8, the brand’s New Retail division has taken the lead in training all employees on the sale of products online and on the use of digital processing tools, such as Alibaba’s DingTalk app.
On March 8, the brand streamed a live streaming session with its founder Qian Jinbo who recorded over 435,300 views and helped increase the sales of its flagship stores by 114% year on year.
To allow even more companies to use their resources, Taobao Live said that its 2020 strategy will include training more than 10,000 physical store employees to turn them into effective Livestream communicators.
WHY IS LIVE STREAMING EFFECTIVE IN CHINA?
Live streaming provides the trust and transparency that China eCommerce has traditionally lacked.
While the China eCommerce industry is huge, buying things online is often unreliable, due to the prevalence of poor quality items, and fake reviews.
Live streaming provides transparency. Chinese consumers can see what products actually look like, rather than just generic photos.
Live streaming also gives the seller the opportunity to introduce the product’s features and to demonstrate how to use it. In addition, viewers can directly ask any questions about the product.
WHY IS TAOBAO LIVE IMPORTANT FOR BRANDS?
Taobao live is a tool through which you communicate effectively with your audience and consolidate brand awareness. Especially in this historical moment, live streaming can prove to be the winning tool.
Many businesses have taken up the challenge posed by the ongoing global pandemic to accelerate their digitalization. Many of the investments initially designed for offline have been moved online. All this with a view to reinventing their marketing strategies and consolidating the relationship with distant consumers.
By the way, the content is always the king and a brand should pay attention to it.It is necessary to start from quality content to increase brand awareness. Chinese users have increasingly sophisticated needs and require fun, informative, useful, and well-made content.
Source: Marketing to CHINA