China is re-inventing ways to make online shopping more fun, and it's proving very successful in this coronavirus outbreak, say two researchers.
Manufacturers and factories are also seeing benefits. So-called “Pin factories” have popped up to produce huge quantities of single products for sale on PDD. Due to the scale of their operations, they can afford to offer bulk discounts.Infomercials are a long way from their heyday in the 1970s. Today, they only exist on fringe cable channels, trying to sell items few people need, typically fronted by D-list celebrities.
According to Chinese financial services firm Everbright Securities, the live commerce market was worth 440 billion Yuan in 2019, a 220 per cent increase on 2018. Around 25 per cent of consumers are daily users, while 71 per cent watch a live commerce event at least once a week, according to research from iiMedia.
READ: Commentary: Without major intervention, Indonesia could have 71,000 COVID-19 cases by end-April Live commerce hosts use limited-time discounts to encourage quick orders, often with a limited number of products available to increase the sense of urgency for shoppers.
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