The next big thing in retail comes with Chinese characteristics | The Economist

May 4, 2021

https://www.economist.com/business/2021/01/02/the-next-big-thing-in-retail-comes-with-chinese-characteristics

QT:{{"
The first pillar of this new retail architecture is “social commerce”. This relies on three related technologies: live-streaming, short-form video and social-networking. The biggest live-streamer is Alibaba’s Taobao Live. In just 30 minutes of presales for Singles Day, China’s answer to Black Friday, it notched up $7.5bn-worth of sales, about as much as Amazon is thought to have sold in its “Prime Day” in October (which actually lasted 48 hours). In June Douyin set up its own shopping division, having earlier hosted many of its live-streams where the likes of Taobao teamed up with celebrity influencers to sell products. The video-app’s 600m daily users confer a valuable resource—their attention. In the autumn it made its proprietary debut on Singles Day."}}

This entry was posted on May 4, 2021 at 10:59 pm and is filed under -.

Tags: , , ,