600+ presidents go livestreaming in TMALL shopping festival
COLDSKY.CN – More than 600 presidents from top brands, including Huawei, Suning, Lenovo and L’Oreal, will join the livestreaming marketing campaign during the June 18 Tmall shopping festival, Chinese media reported.
Live streaming is a new trend sweeping China’s ecommerce sector, partially driven by the increasing numbershort-video users and coronavirus lockdown.
Indebted tech founder Luo Yonghao made US$15 million by selling through live streaming in his first debt, but the quality of the products was not without controversies.
On May 10, Dong Mingzhu, chairwoman of Gree, snagged sales of US$44 million in three hours during the live streaming debut on Kuaishou. Gree reported the net profit of 1.558 billion yuan in the first quarter, a drop of 72.53 percent year on year, due to the pandemic.
Then on May 20, as agricultural product sales were hard hit during the pandemic, the State Council Leading Group Office of Poverty Alleviation and Development decided to team with Pinduoduo, one of the country’s e-commerce giants, for sales promotion of agricultural products from 100 poverty-stricken counties via livestreaming.