What Makes China Prosperous During Covid-19: Explore the Connection of Key Players in Livestream Sales

Abstract

Livestream sales is an innovative application of social media in business. Under the Covid-19 pandemic, physical stores have been greatly affected, but livestream sales, as a new form combining social media and e-commerce, has become a breakthrough for the retail industry. Livestream sales, emerged in recent years, is still at a stage that needs further research. This paper analyzes the functions of main participants in livestream sales and the connection between them and then proposes a business model. In particular, the main components of livestream sales are summarized as 3Ps –– People, Product and Place. People refers to those who conduct the livestream sales, which include key opinion leaders (KOLs), celebrities, founders/CEOs and government officials. Regarding product, this paper analyses different type of product suppliers. Place refers to the livestream sales channel, mainly divided into e-commerce and social platform. Suggestions for the better application of livestream sales will be presented, which can provide implications for retailers who want to apply livestream sales in their business.