|Yiwu’s Livestreaming Economy Achieves Great Success|
On July 28, according to the Yiwu Market Development Committee from January to June of this year Yiwu launched 253,000 online celebrity livestreaming to sell commodities. Retail sales reached 19.467 billion RMB, with a year-on-year increase of 23.19%. The livestreaming economy has achieved great success within just half a year.
Yiwu International Trade City boasts 75,000 booths and more than 2.1 million kinds of commodities. It is known as the world’s largest small-commodities distribution center. Due to its agglomeration of supply, comprehensive logistics chains, and well-developed e-commerce, Yiwu market entities and e-commerce companies have explored the potential of “short video + livestreaming” in the field of small commodity sales and they have created a new model of small commodity sales.
In the livestreaming room of Zhejiang Dicai Crafts Co., an anchor was busy introducing the advantages of the new diamond painting to fans. “This diamond painting is easy to get started, just stick the diamond on the corresponding symbols on the canvas, and then slowly fill in the area corresponding to each symbol. You can get it done in a few minutes, and you guys who are excited can have a try.”
Diamond painting is a decorative handicraft painting that integrates fashion and creativity. Its DIY process is even more interesting. Dicai Craft is an “invisible” champion due to the small but beautiful crafts. It started with cross stitch and now produces various wall paintings and decorative paintings. Last year, its output value reached 120 million RMB.
On July 26, at the Beerus Brand Operation Center in Xiazhu Village, Yiwu the live streamer was conducting a 6-hour live broadcast for hats.
“Dicai Craft” always focused on foreign trade and offline sales. Now it has started selling through live streaming. It has 11 live streaming rooms and over one million fans. It ranks among the top three in the diamond painting category of Douyin (Tiktok) live streaming. After two years of hard work the proportion of e-commerce has reached 40%, and the sales of livestreaming rooms have maintained a growth of 10%-30% every month.
“In addition to promoting orders, livestreaming can also maximize domestic consumers’ understanding of corporate brands. This allows more people to use high-quality products, and the sellers to know more about the needs of domestic consumers,” said Zhong Yulong, the person in charge of Dicai Craft. He mentioned that live streaming has the characteristics of communicating efficiently and the ability to reach diverse audiences. This makes live streaming very popular with traditional enterprises.
More and more Yiwu market entities have grasped the huge business opportunities brought by this new format.
Under the active guidance and promotion of the Yiwu Market Development Committee, the recognition and participation of market entities in the online livestreaming has significantly improved. At present, Yiwu has cultivated more than 70 various livestreaming agencies with more than 3,000 internet celebrity anchors carrying out business and establishing cooperative relationships. The industry employs more than 80,000 people who work in fields such as live streaming training and content production. (Source: Zhejiang News, translated by Zhang Jiajia, edited by Daniel Haws)