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.
Your On-the-Ground People in China.
DISCLAIMER: Information in these blogposts are reposts of existing sources and is assumed to be accurate at the time of release.
Handpicked Group is not responsible for any losses or misinformation as these are not considered specialized advice. Information placed is to provide general information and updates.
Note that links to the original sources in older blog post may have expired.