On October 12, KPMG joint with Ali Research Institute to release a report, predicting that the overall scale of this year’s livestreaming e-commerce will reach RMB 1.05 trillion yuan (USD $155 billion), and livestreaming e-commerce penetration rate in the overall e-commerce market will increase by more than four percentage to 8.6%.
Livestreaming e-commerce first began to sprout in 2009, but only officially became developed in 2016. After 2019, livestreaming e-commerce entered the outbreak period, further accelerated by this year’s new coronary pneumonia pandemic. According to the Ministry of Commerce, China held more than 10 million live broadcasts in the first half of 2020, watched by nearly 50 billion people, with each person watching more than 30 live broadcasts on average. (Source: xinhuanet)