Chongqing - Approximately 500 participants, including webcasters and consumer goods merchants from the Southwest China's Sichuan, Chongqing, and Guizhou cities, attended a livestream industry resource matchmaking conference in Chongqing on October 19.
Webcasters engage with merchants. (Photo/Chongqing Municipal Commission of Commerce)
Livestream commerce is currently the hottest trend in e-commerce, and its main stage is in China. According to the 2022 China E-commerce Market Data Report by China's digital economic media WJS, China's online retail reached a staggering 13.8 trillion yuan (USD 1.9 trillion), with the livestream commerce sector accounting for 3.5 trillion yuan, marking a year-on-year growth of 48.71%. This rapid growth suggests that it will continue increasing its e-commerce market share in the coming years.
The matchmaking conference aimed to support the local e-commerce industry, attract new e-commerce companies, and integrate internal resources. The event also provided a platform for brand companies to establish communication links with influencers.
Various product categories were represented at the event, with 10 product display areas, including agricultural products, snacks, hot pot/pre-packaged foods, and more. Over 290 brand companies engaged in face-to-face discussions and product selection. Six e-commerce platforms, 15 MCN agencies, and 105 live streamers had preliminary online discussions with brand companies before the event, and on-site visits allowed for the examination of brand products and arguments on collaboration.
This event also featured the participation of four major livestream and e-commerce platforms, including Douyin, Kuaishou, Taobao, and JD, the key players in the Chinese livestream commerce industry. Representatives from these platforms promoted their recent product plans and incentive policies on-site.
Mr. Li Wei, General Manager of Shanhuo Youxuan, told Bridging News that his company has become a subsidiary of Douyin's e-commerce sector and is primarily responsible for promoting agricultural products from the Sichuan and Chongqing regions. In addition, they offer resource matchmaking services to local rural webcasters, helping them grow their fan base and increase their online traffic.