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After a three-year development period between 2016 and 2018, China’s livestreaming e-commerce industry became popular in 2019. Today, it is a well-established ecosystem which in 2020 counted over 8,800 companies and 1.23 million live hosts, known in China as Key Opinion Leaders (KOLs), according to Shanghai-based new retail research firm iResearch. [3]
Employees packing items at a warehouse belonging to an e-commerce company ahead of the Double 11 Shopping Festival on November 1, 2023 in Jinhua, Zhejiang province - Hu Xiaofei/VCG/Getty Images
China is the world's largest market for e-commerce. Domestic e-commerce firms have the greatest share of China's market, with foreign companies having a comparatively small presence. The expansion of e-commerce in China has resulted in particular e-commerce patterns like the development of Taobao villages and livestreaming e-commerce.
According to Alibaba, the largest online retailer in China, the sale worth from its live-streaming commerce business during the Single’s Day Shopping Festival hit ca.20-billion-yuan (ca. $3 million) in November 2019. [11] In 2020 the number of live streaming in China consumers reached 526 million. Moreover, the rivalry was not only among ...
Each June, Xishan Island, an eastern tourist destination surrounded by green mountains along Suzhou's Taihu Lake, is typically congested with tourists in what has become known as the "loquat ...
This is the new normal for the e-commerce industry in China." ($1 = 7.2709 Chinese yuan renminbi) (Reporting by Sophie Yu in Beijing and Casey Hall in Shanghai; Editing by Anne Marie Roantree and ...
The expansion of e-commerce in China has resulted in the development of Taobao villages, clusters of e-commerce businesses operating in rural areas. [38]: 112 Because Taobao villages have increased the incomes or rural people and entrepreneurship in rural China, Taobao villages have become a component of rural revitalization strategies.
China's stock market reacted positively to the news. The CSI 300 ( 000300.SS ), Shanghai Composite ( 000001.SS ), and Hang Seng Index ( ^HSI ) all rose more than 4%.