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Business · E-commerce
Taobao Live reaped USD 61.7 bln in gross merchandise volume amid regulatory scrutiny
2021/04/29 05:51:11

Apr 29, 2021 (China Knowledge) - Alibaba’s (9988) Taobao Live generated a staggering USD 61.7 bln of gross merchandise volume (GMV) in 2020, amid rising scrutiny from the officials on e-commerce’s livestreaming sector.

Taobao Live had a 661% growth in the number of live streamers from 2019 - 2020, and a 100% growth in daily active users in the same time period. This trend is boosted by the pandemic, which forced shoppers to shop online to meet their daily needs.

Users who watched live-stream sessions 6 times a day placed more than 10 orders monthly, with a monthly average spending of at least RMB 1,500.

To facilitate this rising trend, Alibaba’s research institute DAMO Academy is designing a smart camera to give real-time feedback to anchors during broadcasts, with artificial intelligence (AI) algorithms in place.

Alibaba is hoping to solidify its place among their competitors such as (9618), Kuaishou (1024) and Bytedance’s Douyin.

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