Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Tencent Reportedly Negotiating Risk-Mitigation Measures to Retain U.S. Gaming Investments
Foxconn to Set Up Chipmaking Joint Venture with Yageo
Excluding Chinese Vendors from Indian 5G Trials Will Hold Back Development, Diplomat Says
Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Self-Driving Truck Startup Plus to Develop Natural Gas-Powered Vehicle With U.S. Engine-Maker
China’s Origin Space Launches Prototype to See How Well It Cleans Up Space Junk
Trending in China: Is Bubble Tea for Tesla Really Such a Bad PR Effort?
TikTok to Set Up European Transparency Center to Ease Data Security Concerns
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business

Ding Yi / Apr 29, 2021 07:05 PM / Business & Tech

Chinese e-commerce giant Alibaba’s livestreaming arm Taobao Live has laid out an aggressive plan to increase its number of livestreaming channels and adopt new technology to grow its business this year, riding a wave of popularity that has seen the industry flourish since the Covid-19 outbreak.

According to a statement released on Wednesday, Taobao Live plans to grow its livestreaming channels to 2,000 with an aim of helping them achieve annual sales of 100 million yuan ($15.4 million) each this year.

To reach the financial target, Taobao Live is working with Alibaba research unit Damo Academy to develop an intelligent camera that online pitchmen can use to receive real-time customer feedback and data such as click rates and number of orders while they are livestreaming, according to the statement. The company added that the gadget will be powered by technologies that include hand-gesture recognition.

On Wednesday, Taobao Live also announced the launch of two new tools that sellers can use to improve livestream content management and fan engagement.

The coronavirus pandemic has increased demand for e-commerce livestreaming, which many of China’s merchants and celebrities use to sell products via platforms operated by Alibaba, JD.com, Pinduoduo, ByteDance and Kuaishou.

In 2020, Taobao Live generated more than 400 billion yuan in gross merchandise volume, as the number of its daily active users jumped 100% year-on-year, according to the company.

The value of China’s livestreaming e-commerce market was estimated to reach about 971 billion yuan last year, with Taobao Live accounting for nearly half of the market, while ByteDance-owned Douyin and competitor Kuaishou shared much of the other half, according to a report by market research firm Qianzhan.

Wednesday’s statement came a week after China’s internet regulator issued trial guidelines to regulate the livestreaming e-commerce industry after the sprawling business was tarnished by cases of livestreaming hosts peddling phony goods.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Livestreaming Hawkers Fall Into Beijing’s Crosshairs

 


Share this article
Open WeChat and scan the QR code