Livestreaming and an enormous customer base mean China's epic annual shopping event completely eclipses sales made on Black Friday
Livestreaming and an enormous customer base mean China's epic annual shopping event completely eclipses sales made on Black Friday
Part of Singles’ Day’s success lies in the size of its market, said Benjamin Voyer, visiting professor in the department of psychological and behavioural science, at the London School of Economics. “The first major innovation was the introduction by Alibaba of Taobao Live in May 2016 as a pioneering approach to e-commerce based on linking online livestream broadcasts with e-commerce stores. Consumers could engage with the online broadcast and shop at the same time. This new form of live e-commerce established itself as a core feature of China’s Singles’ Day.”
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