1. Audience’ Portraits
1.1 User Profile
The live streaming audience can be categorized into 5 major types, category lover, KOL follower, price carer, brand fans, platform follower. The category lovers and KOL followers are the main bodies of users which take up 57%.
The younger the viewers are, the higher probability that they are KOL followers could be. Other generations focus more on the platforms and corresponding brands. The core Internet users (80s-95s) are more interested in the product categories in live streaming. The 18-year-old quasi-adults do not have a high preference for categories, but they will watch e-commerce live streaming because of KOLs. 85s-95s are less sensitive to the price in live streaming than those who are over 35 years old.
According to China Consumers Association, 80s & 90s are the main groups in live streaming consumers which amount to 83% of the total live streaming consumers.
By city tiers
The statistics also reveal the distribution of the users’ city tiers. The majorities living in the first and second tier cities, contributing to 74% of the population.
Audiences mostly watch e-commerce live streaming after dinner until sleep (7pm – 12pm) or at home of weekends
2. Watching and Consuming Behaviors
2.1 Incentive to watch live streaming and consume products
As estimated, most live streaming viewers are attracted by the coupons sent in live streaming and this is a convenient and efficient way to know more details about the products.
In the previous article “how to choose the right live streaming platform”, we have compared and introduced the similarities and differences Taobao Live, TikTok and Kuai Shou, the best-known live streaming platforms at present.
Viewing from a broader view, audiences are attracted by more platforms, which have started to build their own live streaming systems and a competitive market is gradually formed. The current live streaming platforms can be divided into five tiers, among which Taobao Live takes a dominant position. Taobao Live Streaming become the prioritized e-commerce platform for consumers to watch live streaming and purchase products. 77% of audiences know about the Taobao Live; 68% and 61% of audiences have watched and purchased in Taobao Live respectively. According to the data shown, the consumption proportion is much higher than other platforms, including short-videos and e-commerce platforms.
In terms of conversion rate, e-commerce platforms live streaming perform better than other types of live streaming. Short videos platforms are catching up, among which TikTok becomes the most promising platform to sell products.
3. Consumption Preferences
As mentioned previously, anchors play a very important role in recommending and selling products, which determines the sales volume to a certain extent. A new trend in 2020, compared to the situation in the previous years, is that everybody begins to join the live streaming industry. Although the head KOLs, like Austin Li and Viya, are still the most popular choices in the market, nowadays the stars or celebrities promoting goods and CCTV public welfare live streaming are more and more seen. Brands have more choices, and they can even enter the studio by themselves. With their own familiarity and understanding of products, they could provide authentic consumption experiences to audiences and enhance the professionalism and credibility of the brand.
If you are interested in more detailed information about the differences of platforms and corresponding KOLs, you can check our earlier blog “how to choose the right live streaming KOLs” and “how to choose the right live streaming platform” to learn more or contact us directly to choose the most suitable KOL for your brand.
Apart from anchors, products also play a nonnegligible role in live streaming.
3.2.1 The Most Popular Products
3.2.2 The Most Promising Products
4. Challenges vs. Trends
- Diversification: With the increase of live streaming penetration, a single type of live content can no longer meet the needs of users in different scenarios, and the contents will tend to be diversified
- Verticalization: After decades of development, entertainment live streaming has reached the bottleneck of flow growth. And there are homogenization phenomenon and user aesthetic fatigue. Vertical industry is still potentially increasing, such as live education, live medical care and so on.
- Refinement: With the intensification of industry competition, fine operation will become one of the core competitiveness of live streaming. In addition to the product supply chain docking ability behind live streaming, live content planning, anchors’ abilities and executions all affect the success of live streaming.