Popular sellers in China come under repression.
One of China’s most well-known online superstars made close to $1 billion in sales last year during a live broadcast for Singles’ Day, the nation’s annual e-commerce fiesta.
This year, a large number of well-known live broadcast celebrities have joined President Xi Jinping’s campaign against celebrities.
Firms reconsider their live streaming strategy
According to Bloomberg Intelligence, transaction costs will drop by an unheard-of amount this year since revenue from the event is anticipated to go from erratic to sparse.
The loss of famous retailers, who continue to play a significant role in Chinese retailing, will be felt the most.
According to Dave Xie, head of consulting at Oliver Wyman, “Amid the recent dip in celebrity streamers, marketers are now aggressively speeding the building of their live streaming studios to sever links with prominent influencers, while retailers are also switching to smaller platforms.”