This article is by: CNBC
Read more about it here: Livestreaming in China is growing, offering hopes of fame and wealth to ordinary Chinese
An excerpt from CNBC
In five minutes this past November, Chinese livestreamer “Xin Ba” sold 42.5 million sets of Whoo Korean skincare products, and made more than 400 million yuan ($57 million) in sales during that day’s shopping event, according to Kuaishou, the Tencent-backed video platform.
For many Chinese, it’s the dream of overnight wealth, and the social mobility it can bring. For global brands, these internet personalities — “key opinion leaders” or KOLs — are emerging as the most effective way to reach China’s hundreds of millions of shoppers.
For Kuaishou users with more than 1 million fans, transaction volume in the last 11 months grew 9 times, versus 34 times for those with 200,000 fans, Wang Yulin, CEO of Mockuai, a Kuaishou partner, said at a conference in Beijing on Dec. 17.
This article is by CNBC
It is about the influence social media has in China
It is note worthy because again it shows how social media in China is much ahead of the West.
Read about it here From Lu Han to Papi Jian, Chinese celebrities are making a lot of money from social media
Your On-the-Ground People in China.
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