Rising Interest in Health & Wellness
Healthcare awareness is increasing, with more users prioritizing medical care, wellness, and informed consumption.
Brands Seek Omni-Channel Integration in Live-Streaming E-Commerce
Brands are increasingly utilizing live-streaming e-commerce across multiple platforms to reach consumers through a multi-channel marketing strategy. This expansion is driving a need for better omni-channel integration and monitoring. Challenges include higher operational costs, difficulties with data aggregation, and price control issues. To overcome these hurdles, brands need to adopt digital tools for effective omni-channel integration and monitoring to improve the efficiency of their live-streaming e-commerce operations.
Consumers’ diverse purchase factors challenge brands
Consumers consider multiple factors when making purchase decisions, making it challenging for brands to accurately capture the diverse needs of consumers.
At the primary level, consumers base their decisions on factors such as “product quality/function, brand, emotional connection, and price,” with varying priorities for different categories.
At the secondary level, the importance of these factors can differ by product category. For example, in the “brand” dimension, consumers place more importance on brand recognition for non-food products, while for food products, brand reliability is more crucial.
Overall, consumers take multiple factors into account when making purchasing decisions, leading to diverse needs for the products they buy. If brands cannot accurately capture these needs, it can result in poor sales conversion rates during live-streaming.
Shift to Detailed Content in Live-Streaming E-Commerce
From 2021 to 2023, live-streaming e-commerce views and purchase conversion rates on platforms like Douyin and Kuaishou have steadily increased. In 2023, these platforms recorded 563.53 billion views with a 4.8% conversion rate. Consumers are increasingly relying on “content seeding” for purchasing decisions, showing greater interest in detailed product knowledge rather than aggressive sales tactics. According to iResearch, 78.1% of consumers seek comprehensive information about products during the sales process. To improve conversion rates, live-streaming sessions should focus on providing detailed product information and aligning marketing content with product attributes to enhance the overall viewing experience.
Enhancement of Live-Streaming E-Commerce Through Digital and Intelligent Upgrades
Accelerating the Digital and Intelligent Upgrading of Live-Streaming E-commerce Business Processes to Enhance Service Efficiency on Both Supply and Demand Sides.
Live-streaming e-commerce service providers are increasingly adopting digital technology to enhance their processes. While many are using outsourced business intelligence (BI) systems to boost internal efficiency, these systems offer limited support for both supply and demand sides. Providers with R&D capabilities are developing their own digital platforms that go beyond BI functionalities, incorporating data analysis, forecasting, and intelligent business processes. Some have integrated SaaS tools into these platforms to support brand owners’ live-streaming activities, aligning with the trend of brand-owner live-streaming. Overall, core service providers are improving their digital and intelligent capabilities to enhance sales efficiency, operational performance, and communication of consumer needs, thereby increasing service efficiency for both supply and demand sides.
Adoption of Generative AI for Digital Human Hosts in Live-Streaming
Riding the Wave of Generative AI Technology: Actively Developing Digital Human Hosts to Supplement Brand Live-Streaming Roles.
Digital humans, powered by Artificial Intelligence Generated Content (AIGC), are increasingly being used for live-streaming by brands due to their cost-effectiveness. They are especially popular among brands looking to streamline their store operations. However, for brands dealing with non-standard products or leading brands, digital human hosts are less common due to the high costs of development and training, which may not justify the investment.
Core live-streaming e-commerce service providers are either outsourcing digital human hosts or partnering with technology suppliers. Outsourcing can lead to a disconnect between technology and business needs, while partnerships with technology suppliers enable better alignment and customization of digital human hosts to meet live-streaming e-commerce requirements, enhancing brand store operations efficiently.
The Value of Digital Human Anchors in Brand Store Broadcasting
1. Reduce the cost of setting up live streaming rooms
The cost required for brand owners to build digital live streaming rooms is significantly lower than that of traditional live streaming rooms,
The reduced costs include hardware equipment expenses such as cameras and personnel expenses such as anchors.
2. Low cost capture of non-prime time traffic
Brand owners can use digital influencers to seize non-prime time traffic and coordinate live streaming operations to maximize input-output efficiency.
Non-standard brand merchants and top brand merchants have higher requirements for digital human anchors, which has led to the previous
The cost of building a database is relatively high, and on the other hand, the frequent iterations required in the later stage result in higher training costs.
Advancement of Digital Flexible Supply Chains
Emphasizing the Development of Digital Flexible Supply Chains to Help Brands Precisely Address Consumer Needs
Live-streaming e-commerce initially improved supply chain efficiency by shortening the sales process, but a one-sided push supply chain is now insufficient for meeting diverse consumer demands. To build competitive advantages, practitioners must enhance supply chain efficiency and address varied consumer needs. Core service providers are leveraging technology to develop digitally flexible supply chains, enabling brands to improve product iteration efficiency and better align with evolving consumer demands.
Adoption of Advanced Technologies for Enhanced Product Presentation
Introducing New Technologies to Enhance Product Information Touchpoints and Utilizing Large Models for Intelligent Product Selling Point Creation
Core live-streaming e-commerce service providers are adopting advanced technologies like VR panoramic live-streaming, 4K/8K ultra-high-definition live-streaming, and 5G real-time cloud rendering to enhance product presentation and user engagement. These technologies help consumers gain a detailed understanding of products, boosting shopping conversion rates. Additionally, Artificial Intelligence Generated Content (AIGC) is being used to automate the creation of product selling point copy based on product features and audience profiles. This allows content operators to optimize and improve content efficiency and quality significantly.
Key Industry Development Trends in Live-Streaming E-Commerce
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