Can you imagine that a top makeup live streamer in China made sales revenue of 6 million yuan (around AUD1.25 million) within 3 minutes? His success is just the tip of the iceberg in the Chinese live-streaming industry, which has become a new e-commerce retail model that can make huge profits. The astounding market momentum from the Chinese e-commerce live-streaming industry has led to a ton of foreign enterprises to take advantage of this opportunity to enter the Chinese Market.
The Lipstick Boy is Just the Tip of The Iceberg in The Chinese Live-Streaming Industry
Austin Li (Li Jiaqi in Chinese) is a millennial young boy in China – he is a famous live-streamer who could test nearly 400 lipsticks per day during the live-streaming. Most products he introduced would be quickly sold out.
How strong is the sales ability of Li? His had the records of transaction volume amounted to 70 million yuan in a single live-streaming. During the live-streaming on women’s day in 2019, Li sold 7000 sets of facial masks, 30 thousand bottles of essence from an obscure local brand, and he even made the lipsticks he promoted sold out in 3 minutes.