[Preview of the Weekly] The Battle for Live Streaming Dominance: How Consumerism's Clamor Can Return to Commercial Value (AI Translation)
Listen to the full version
- The live-streaming e-commerce industry in China has seen a series of controversies involving top influencers, known as 'super-heads,' such as Li Jiaqi and Xinba, who have faced issues related to price control and competition with other sales channels. This has led to regulatory attention on product quality, pricing, and unfair competition.
- Direct live-streaming sales have grown rapidly compared to traditional e-commerce, with the Ministry of Commerce reporting over 2.2 trillion yuan in sales from live streaming from January to October 2023, accounting for 18.1% of online retail sales. However, there is increasing pressure on super-heads as brands seek new strategies and diversify their marketing budgets away from relying solely on these top influencers.
- The case of Dongfang Zhenxuan (Oriental Selection) and its head anchor Dong Yuhui highlights the power dynamics within the live-streaming industry. After an incident where Dong's fans reacted strongly against perceived undermining by the company's management, Dong was given more independence and recognition within the company, reflecting a shift towards acknowledging the significant value that popular anchors bring to their platforms.
文｜财新周刊 包云红，冯奕铭（见习）
By Caixin Weekly's Bao Yunhong, Feng Yiming (Intern)
近两个月来，直播电商频爆热点。刚走出“怒怼粉丝是否认真工作”之舆论争议的淘宝“超头”（超级头部主播）李佳琦，又与快手“超头”辛巴同时陷入控价风波，引发其他销售渠道不满，及监管在产品质量、价格和不正当竞争等方面的关注与告诫。而最近，东方甄选（01797.HK）的“小作文”事件更是引起全网热议，头部主播董宇辉粉丝与东方甄选之间暗自“较量”，甚至让资本市场都大起波澜。
In the past two months, the live e-commerce sector has been abuzz with hot topics. Taobao's "super head" (top-tier live streamer) Li Jiaqi, who had just emerged from a public controversy over whether he was serious about his work following a dispute with fans, found himself embroiled in a price control scandal alongside Kuaishou's "super head" Xinba. This incident not only caused dissatisfaction among other sales channels but also drew regulatory attention and warnings concerning product quality, pricing, and unfair competition. More recently, the "little essay" incident involving Dongfang Zhenxuan (01797.HK) sparked heated discussions across the internet. The silent "contest" between top live streamer Dong Yuhui's fans and Dongfang Zhenxuan even sent shockwaves through the capital markets.
从2018年开始，各大互联网平台纷纷尝试把网红经济与中国强大的供应链体系及全球品牌商连接起来，直播电商业态崛起，主播成为商品销售的前沿阵地与流量入口——而在如今增量艰难、存量“内卷”的消费市场，这一流量口的聚合与挤出效应都越来越突出，品牌、电商平台、MCN机构（网红运作公司）以及逐渐掌控话语权的主播们，正在进入新一轮的博弈期。
Since 2018, major internet platforms have been experimenting with connecting the influencer economy to China's robust supply chain system and global brands, leading to the rise of live commerce. Streamers have become a frontline for product sales and a gateway for traffic. In today's consumer market, where incremental growth is challenging and existing resources are intensely competitive ("involution"), the aggregating and squeezing effects of this traffic hub are becoming increasingly pronounced. Brands, e-commerce platforms, MCN agencies (influencer management companies), and streamers—who are gradually gaining control over discourse—are entering a new round of strategic maneuvering.
相对于传统电商的增长乏力，直播电商一路高歌猛进。商务部数据显示，2023年1至10月，全国网上零售额12.3万亿元，同比增长11.2%；直播销售额超2.2万亿元，同比增长58.9%，占网络零售额18.1%，拉动网零增长7.5个百分点。另据星图数据，2023年“双11”大促期间（各平台促销期从10到20天不等），以天猫、京东、拼多多为代表的综合电商平台全网销售总额9235亿元，同比下降约1.1%；而以抖音、快手、点淘（淘宝直播官方平台）为代表的直播电商销售额达2151亿元，同比增长约18.6%，不过增速也较2022年的146.1%大幅放缓。
In contrast to the sluggish growth of traditional e-commerce, live-streaming e-commerce has been surging ahead. According to data from the Ministry of Commerce, from January to October 2023, China's online retail sales reached 12.3 trillion yuan, up by 11.2% year-on-year; live-streaming sales exceeded 2.2 trillion yuan, a staggering increase of 58.9% compared to the same period last year and accounting for 18.1% of total online retail sales, contributing to a 7.5 percentage point boost in online retail growth. Furthermore, data from Xingtú indicates that during the "Double 11" promotional period in 2023 (varying from 10 to 20 days across different platforms), comprehensive e-commerce platforms such as Tmall, JD.com, and Pinduoduo reported a total sales volume of 923.5 billion yuan across all networks, marking a slight decline of about 1.1% year-on-year; however, live-streaming e-commerce platforms represented by Douyin (TikTok's Chinese version), Kuaishou, and Diantao (Taobao Live's official platform) achieved sales of 215.1 billion yuan, an increase of approximately 18.6%. Nevertheless, this growth rate has significantly slowed down compared to the explosive increase of 146.1% in the previous year (2022).
Sign in with Google
Sign in with Facebook
Sign in with 财新