A new report from KPMG and Alibaba sees the live streaming e-commerce market in China exceeding one trillion yuan (approx. USD$150 billion) in 2020.
The “Live Streaming E-commerce Strides Towards 1 Trillion Yuan Market” report (迈向万亿市场的直播电商) jointly released by KPMG and Alibaba’s AliResearch indicates that in 2019 China’s live streaming e-commerce market hit 433.8 billion yuan, for YoY growth of 210%.
Given that live streaming had a penetration rate on the e-commerce market of just 4.1% in 2019, a figure which has rapidly rise since the start of 2020, the report sees the market hitting 1.05 trillion yuan in the current year.
Figures from China’s Ministry of Commerce indicates that in the first half of 2020 there were over 10 million live streaming e-commerce broadcasts garnering over 50 billion views, for more than 50,000 live-streaming e-commerce broadcasts per day and daily views of over 260 million.
According to the KPMG and Alibaba report indicates that merchants themselves comprise the mainstay of live streaming e-commerce. Data from Taobao indicates that 90% of live streaming e-commerce broadcasts are made by merchants themselves, and they account for 70% of transaction value.