Alibaba urges offline retailers to livestream on Taobao Live
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Alibaba Group’s live streaming channel Taobao Live wants to attract more than 200,000 businesses to its platform this year.
The firm hopes brick-and-mortar retailers such as traditional wholesale markets will enhance the shopping experience of customers with the assistance of the platform.
Against the backdrop of the Covid-19 pandemic, the firm waived service fees for platform onboarding in February, increasing the number of merchants using Taobao Live by 719 percent.
Recent figures have shown gross merchandise volume (GMV) generated by the platform swelled by 150 percent for the last three years running, with consumers spending more than 350,000 hours per day on the site. The surge had continued during the coronavirus outbreak period.
“The current healthcare crisis is a wakeup call for retailers,” said Taobao’s senior director of e-commerce content Yu Feng. “It has prompted many to accelerate their digital makeovers so that their businesses become more dynamic and resilient.”
Questions & Answers
Q.What kind of businesses is Taobao Live primarily trying to attract to its platform?
What kind of businesses is Taobao Live primarily trying to attract to its platform?
Taobao Live aims to attract brick-and-mortar retailers, including traditional wholesale markets. It hopes these businesses will use the platform to improve the shopping experience for their customers, particularly given the current global health crisis.
Q.How has the number of merchants using Taobao Live changed recently?
How has the number of merchants using Taobao Live changed recently?
The number of merchants using Taobao Live increased by 719 percent, following the firm waiving service fees for onboarding in February. This growth occurred against the backdrop of the Covid-19 pandemic.
Q.What financial performance figures are available for Taobao Live?
What financial performance figures are available for Taobao Live?
The platform's gross merchandise volume (GMV) has increased by 150 percent annually for the past three years. This surge continued during the coronavirus outbreak period, showing strong financial growth.
Q.How much time do consumers spend on Taobao Live daily?
How much time do consumers spend on Taobao Live daily?
Consumers spend more than 350,000 hours per day on Taobao Live. This indicates a high level of engagement and sustained interest from its user base.