China's annual online shopping festival Singles Day has to start officially on November 11th, but his "pre-sales" events already indicate that the hot sales trend will be live e-commerce again.
According to Ashley Dudarenok, founder of China, "Lipstift king" Li Jiaqi achieved an estimated gross rare value (GMV) of 726 million RMB (113.5 million euros) for L during a live streaming event in Taobao on October 20 on October 20'Oréal trend observatory Chozan.
The European brands L'Oréal and Guerlain jumped on the country's live e-commerce train in 2016 and exhibited Chinese influencers to advertise their cosmetics in Chinese viewers.China to address European online shoppers. They still have to learn a lot.
The live e commerce in China has exploded since its first appearance and the market has recorded three-digit growth in the past three years. In China, online shopping format will probably have a value of 4.9 trillion RMB in 2023, in 2023For example, the Chinese live streaming e-commerce industry report 2021 published on October 27 by the market research company Iresearch.
European brands in China's live e-commerce scene
Auf L'Oréal und Guerlain folgten in China einige Jahre später Givenchy, Unilever, Procter & Gamble, Pandora, La Mer, Nestlé und viele andere.Heute haben nur wenige große europäische Marken mit starker chinesischer Präsenz nicht mindestens eine Live-Shopping-Show durchgeführt.Die italienische pharmazeutische Hautpflegemarke Rilastil erzielt 35 % ihres gesamten China-Umsatzes aus dem Live-E-Commerce.
But the success on China's contested live streaming market should not be taken for granted.
The pandemic spured European retailers into a live e-commerce
While European players in China have long since hired Chinese Kols, celebrities and their own staff to moderate live shows on the most popular Chinese live streaming platforms, they have only slowly transferred the format to Europe, as it was only suitable for a Chinese audience.
A study by Forrester and Aliexpress from February 2021 rejected this assumption and found that 70 % of the 14,460 consumers surveyed in Great Britain, Spain, France and Poland were interested in this new form of online shopping.
Live streaming experiments in Europe began at the end of 2019 and increased frequency in 2020, since pandemic forced business throughout the continent to close.
The Italian clothing stamp Motifi rely on live streaming right at the beginning of the pandemic and hired their own sellers to present collections and answer questions from customers in real time on their website in order to reproduce the real shopping experience.
Another example is Lancôme, which organized a show with the Italian influencer Chiara Ferragni in November 2020.
Monki, eine Fast-Fashion-Marke der H&M-Gruppe, hat auch mehrere Live-Übertragungen mit erfahrenen Verkäufern gestartet, wobei die Shows wiederum direkt über die Website der Marke zugänglich sind.
Europe's approach for live e-commerce
Nevertheless, China lies with live e-commerce for about five years ahead of Europe.China's experience can give us valuable lessons that we can refer to. China needed a few years to transform live e commerce into a popular format thatBoth brands and consumers are used regularly. Europe is currently in the study and exploration phase, but we can predict some major differences in terms of style and approach:
Live e-commerce in China compared to Europe
Is live streaming very important in Europe?
The years 2021 and 2022 will show whether the live e-commerce in Europe was only a temporary, pandeMieD-related boom or whether it will stop, but the previous numbers point in the right direction.
According to Madison Schill, marketing and communication director at LiveSkala.Laut Schill, the average sales conversion rate across all customers and platforms at LiveScale was 9.5%.This year the rate is around 18%, a sign that customers react well.
Live shows in Europe could remain selective experiences that are strongly geared towards content and reflect the philosophy of the brand and the shopping habits of local customers.Aliexpress and Bytedances Tiktok with experience in training and incubation of live streamers could serve as guidelines for European brands that want to improve the live selling skills of their local hosts.
If you take China's growth course as a model, Europe has the potential to reach around 160 million live streaming e-commerce users by 2024, of which around 100 million people could also make purchases while seeing live streams, Leah Wang,Chief Marketing Officer of the Xinxuan Group said when the Iresearch report was presented.
In Europe, live stream shopping and e-commerce in general will probably never replace the in-store experience, but will become part of a more comprehensive omni-channel marketing and sales strategy, in which physical transactions remain the focus and sometimes serve as temporary live streamsStudios. With a view of the future, we could see the expansion of the live e-commerce to new industries, perhaps also to the B2B area.