Live streaming ecommerce users are increasing

A vendor promotes local dried fruit via livestream at the Grand Bazaar pedestrian street in Urumqi, capital of Xinjiang Uyghur Autonomous Region. [Photo/Sipa]

Live-streaming e-commerce platform users in China reached 469 million by June 2022, up 204 million from March 2020, and accounted for 44.6 percent of all internet users in the country, said the Academy of China Council for the Promotion of International Trade in a report dated 15.

According to the report, which focuses on the development trend of China’s e-commerce, China’s largest short video platform Douyin launched over 9 million live streams every month between May 2021 and April 2022 and sold at least 10 billion goods. fold. By March 2022, the number of views of live streams on Taobao reached over 50 billion.

The report found that digital technologies have become the new driver of consumption growth. On the one hand, digital technologies have accelerated the formation of new business patterns such as cloud shopping and cloud concerts. On the other hand, digital techs have pushed the refinement of the consumption structure.

Against the backdrop of a complicated international and domestic environment, the report anticipates that e-commerce will play a key role in China’s economic recovery and development.

First, e-commerce has become a major force in boosting consumption and supply. In the first nine months of this year, online retail sales of physical goods recorded 8.24 trillion yuan ($1.15 trillion), up 6.1 percent on an annualized basis, far exceeding total retail sales of consumer goods in the same year Period. Online sales of groceries, clothing and other daily necessities grew by 5.6 percent, 4.7 percent and 5.2 percent, respectively, guaranteeing the supply of daily life.

Second, the emergence of new consumption scenarios has given a boost to service sectors. By June this year, the number of remote workers in China reached 461 million, 43.8 percent of the country’s total netizens. So far there are 300 million users of online medical services, 28.5 percent of all internet users.

Third, cross-border e-commerce has become an important tool to stabilize foreign trade and promote consumption. Data from the Ministry of Commerce shows that foreign trade via cross-border e-commerce increased by 28.6 percent year on year in the first half of this year.

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