The sudden outbreak of COVID-19 disrupted our lives. Offline stores, restaurants, and entertainment seem to be hitting the “pause button.” While live streaming opens the window of communication with the outside world overnight. Everyone can be a streamer and everything can be streamed.

1.  “live +” modes help enterprises “cloud” back to work

During the epidemic, the retail and service industries, which rely on offline customers had to change their thinking to save themselves and survive in 2020. For example, the Yintai department store let shoppers start Taobao live at home, with vivid introduction and physical display, shoppers seem to be in the real store. At the same time, consumers can ask questions at any time, and the streamers can answer their questions and interact with them in real time, bringing interesting and warm consumer experience.

Lin Chengxuan, Seven Wolf president also appeared in the live broadcast as influencer marketing. There are 6 million watchers , sold nearly 40 million camellia oil (their products) in 4 hours , which is equivalent to the previous sales of several offline stores in a week

Online live streaming not only changed the sales channels, boost revenue, but also draws businesses closer to customers, enhancing customer trust and improving brand influence.

In addition, online broadcasting has gone beyond the purpose of direct “selling goods”, it can be combined with education, news, entertainment and other industry scenarios. Professional doctors explain how to protect yourself during an epidemic, and journalists keep you up to date with the latest epidemic news to alleviate it. A state of nervous anxiety; the owner of a medieval shop shares the appraisal of artifacts for you, sparking interest in learning; makeup artists, fitness instructors, the Chef teaches you more life skills and inspires us all to live a more fulfilling and interesting life.

Since February, there are over 100 jobs shown on Taobao live. Cloud selling houses, cars, supermarkets, museums and other “cloud jobs” are becoming increasingly popular.

2. Live streaming platforms compete for the billions of dollars pie

During the epidemic, Taobao Live, Jingdong Live, Douyu, Kuaishou, Huya, Tencent small program and other live-streaming platforms fight fiercely in the online streaming market.

On March 21, Taobao launched its first 7-day live shopping festival. This is the exclusive Taobao live “Double 11”. According to data released by Taobao, in February this year, the number of merchants on the platform’s new live broadcast increased by 719% from the previous year, with about 30,000 new live broadcasts every day.

Taobao live relies on the Ali Department’s innate e-commerce ecology, the platform itself has a large number of commodities, powerful content resources, in the live band goods Taobao has a natural advantage in this area; coupled with a perfect business infrastructure and diversified fan operation methods, Taobao is currently developing at a fast pace. Fastest e-commerce live-streaming platforms.

According to data from AiMedia Consulting, the top five live-streaming platforms that respondents commonly use for live shopping are Taobao, Jingdong, Douyu, and Xiaohongshu and Kuaishou, with percentages of 48.18%, 47.45%, 32.85%, 22.63% and 18.98%.

Taobao and other head e-commerce is still the mainstream platform for live streaming e-commerce. Douyu and Kuaishou mainly reply on content traffic distribution for live e-commerce. Kuaishou plowed into the sinking market, paying more attention to maintaining private domain traffic, and realizing live carry through the economic value of fans. Douyu mainly gains revenue through merchants placing ads rather than directly selling goods.

But they all face the common problem of needing to rely on e-commerce platforms such as Taobao, Jingdong, and Piduo in order to build their own closed loop of realization.

However, with short videos as their main focus, the boundaries of live streaming are being expanded, not only by live e-commerce, but also by live streaming Teaching, live fitness, eating podcasts have also become mainstream trends.

The epidemic makes more people see the market opportunities in the live streaming industry. According to Ai Media Consulting, in 2019, the user scale of China’s online live streaming industry will reach 504 million people, with a growth rate of 10.6%, and the scale of users is expected to reach 526 million in 2020, an increase of 4.38% year-on-year.

The total scale of China’s live e-commerce industry reached 433.8 billion yuan in 2019, and the market size is expected to surpass 2020 900 billion yuan. The market volume of nearly trillion yuan and the market potential unleashed by the current opportunities will surely attract more live streaming platforms to accelerate their deployment.