As a testament to how massive live streaming e-commerce is in China, one viral Douyin (China's version of TikTok) live streamer, Zheng Xiang Xiang, adopts a minimalist approach that is turning heads and raking in millions.
Singaporean news site 8days reports that in just seven days, Xiang Xiang managed to amass a jaw-dropping 100 million yuan (S$18.7 million) in sales. What's the secret behind her astounding success?
3-Second Product Showcases
The report reveals that Xiang Xiang dons a striking black halter dress, which gained fame through a Chinese actor, during her livestream sales sessions.
What truly sets her apart is her deadpan and high-speed method of introducing products. In a blink-and-you-miss-it fashion, she dedicates a mere three seconds to showcase each item.
Her assistant hands her a product so she can show it, revealing the price, and swiftly pushes it aside. No upselling, no further descriptions - you will be baffled as to how this works.
Xiang Xiang's live streams feature a backdrop adorned with stacks of Hermès boxes, and all her products come in signature orange packaging. This unique aesthetic and approach have captivated her audience, leaving them wanting more despite the 3-second showcases - or because here, products are just cheap at under 10 yuan (S$1.9)
The low price indicates that she managed to sell approximately ten million units in the past week, resulting in her earning 100 million yuan.
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Chinese Live Streamer Not Doing So Good
In other news, a popular livestreamer with over 100 million followers across various social platforms was recently banned from Douyin.
Global Times reports that Xinba's downfall was due to repeated violations of the platform's self-discipline agreement, including posting insults, abuse, and false information. His controversial business dealings and involvement in selling misrepresented products have led to further scrutiny and an eventual ban.
Regulatory Measures and Consumer Protection
In light of such incidents, regulators across China have been stepping up efforts to rectify wrongdoings in the live streaming e-commerce industry.
Market supervision bureaus in various regions, including Yunnan and Zhejiang provinces, are cracking down on unscrupulous practices. This includes ensuring that live broadcast e-commerce practitioners refrain from requiring merchants to sign "minimum price agreements" that may undermine consumer interests.
While the livestreaming e-commerce industry in China has faced its share of controversies and challenges, the future looks promising with increased regulatory oversight.
In Other News
Nio, an established Chinese automaker known for its sleek, high-end electric SUVs, has begun another round of layoffs in response to increased competition and the need to cut costs and reallocate resources.
According to an internal letter, after several weeks of discussions about the company's two-year operations plans, it was decided to fire roughly 10% of the workforce.
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