Sales for 12 hours more than malls selling for a year

In a long online sales program 12 hours On the recent Kuaishou platform, Xinba – who is dubbed the “king of livestream” of China – has sold some valuable products. 300 million USD.

According to statistics, this livestream has attracted four million viewers and Xinba has sold more than 16 million items as diverse as shampoo and smartphones. The total volume of goods (GMV) for the sale session reached 2 billion yuan ($ 305.7 million).

During this sale, Xinba made more money than the Times Square shopping mall in Causeway Bay, one of the most popular luxury stores in Hong Kong, for the whole of 2020.

Saturday’s livestream surpassed Xinba’s previous record of selling product items totaling 1.45 billion yuan ($ 221 million) in November last year and is considered a major online sale. most Kuaishou ever held.

Kuaishou is Xinba’s favorite livestream platform, he also often appears on ByteDance’s Douyin, the Chinese version of TikTok.

This was also the first time Xinba appeared after being boycotted for nearly 3 months and fired from his former company. At the end of 2020, he used to have a “seal” advertising fake bird’s nest and was discovered by the Guangzhou market regulator.

After that, the government sanctioned Xinba 900,000 yuan (3.1 billion VND), Kuaishou also forced to close his livestream account within 60 days. Xinba apologized and offered three times the amount, as required by the Chinese consumer law.

By 2020, KPMG auditing firm estimates that China’s live-stream e-commerce industry is worth up to $ 152.8 billion. It is known that online shopping is becoming more and more developed during the COVID-19 season, sales platforms and brands are constantly cooperating and providing users with a variety of online shopping experiences.

However, the Chinese government has recently stepped up its oversight of the country’s short and live video platforms, which could slow future growth. In March, the State Administration of Market Regulations announced new regulations that would treat social networks and live streaming platforms as e-commerce platforms, which could increase spending. their operating fees.

Source: SCMP