Global Research 29 June 2020 China Internet Sector Equities Who benefits from live streaming e-commerce? China Internet Services Jerry Liu The line between online media and e-commerce platforms is blurring Analyst Our conversations with retailers, e-commerce platforms, talent agencies, etc. indicate
[email protected] online media platforms could benefit more from new e-commerce models, where +852-2971 7493 videos and live streams drive purchasing decisions, compared to traditional search-led Curtis Li online shopping. Today, Alibaba's Taobao Live and Kuaishou are leaders in live Analyst streaming e-commerce, which we estimate will be an Rmb2.2trn market by 2022 with
[email protected] 71% CAGR from 2019-22. Bytedance's Douyin and Tencent's Weixin/WeChat could +852-2971 5526 become major players over time, while we think traditional e-commerce platforms need Wei Xiong to evolve, or risk getting disintermediated and ultimately lose user and gross Analyst merchandise value (GMV) market share. S1460518100005
[email protected] Live streaming and social driven e-commerce increase our market forecasts +86-21-3866 8883 A year ago we identified social e-commerce as a key reason of e-commerce market Zhijing Liu fragmentation (note) with PDD being the most successful. Since then, we saw live Analyst streaming e-commerce hit an inflection point in 2019, as the two short video platforms S1460515120001 Douyin and Kuaishou push more into live streaming, and another during Covid-19.
[email protected] Brands, retailers, etc. shifted resources online this year, and worked with key opinion +86-21-3866 8847 leaders to educate and promote new products and services.