Taobao Live labels coronavirus a digital wake up call for retailers

Taobao Live, Alibaba Group’s livestreaming channel, has announced plans to help more than 200,000 Chinese bricks and mortar stores and 100 marketplaces make use of the platform this year.

The gross merchandise volume generated by the platform grew by 150% per year for three years in a row. By the end of 2019, consumers were spending over 350,000 hours each day combined watching programmes via the service. And newly registered livestreaming accounts nearly doubled year-over-year in 2019.

Usage has surge in recent months as brands and merchants impacted by Covid-19, including mall operator Intime and furniture retailer Easyhome, have increasingly turned to livestreaming to help them resume operations.

“The current healthcare crisis is a wakeup call for retailers,” says Yu Feng, Senior Director of E-commerce Content at Taobao. “It has prompted many to accelerate their digital makeovers, so that their businesses become more dynamic and resilient.”

Further details here.

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