After being slapped with massive fines by China’s tax authorities, two top livestreamers are now getting canceled on local social media. Brands beware.
YouTube plans to use its US Holiday Stream and Shop event as a test-drive for what the platform can accomplish in the future with e-commerce.
Only KOLs who are licensed brokers will be allowed to be continue, while livestreaming investment recommendations will be banned, media outlets have reported.
A tendency to underestimate the digital medium’s production value and relying on content outsourcing are common problems preventing brands from getting livestreaming right in China.
While ecommerce livestreaming is likely to see explosive growth at the lower end of the market, it may ultimately be less influential in driving luxury sales.
Chinese regulators are preparing to impose new regulations on the booming use of livestreaming. Although the changes represent potential risk for brands, representatives from e-commerce platforms and influencer agencies welcome the moves.
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