Macau’s first live-streaming center opens

The Live-streaming Commerce center, the first-of-its-kind in Macau, was opened yesterday. The institution will enable local retailers to showcase Macau’s products to consumers on China’s biggest e-commerce platform Taobao through live shows.
The center was jointly established by China’s e-commerce giant Alibaba Group and two local conglomerates, including Multinational Holdings Group.
At the opening ceremony yesterday, Tai Kin Ip, director of the Economic and Technological Development Bureau said that the trend of live-streaming e-commerce in China is set to continue.
The center will help local merchants to take advantage of growing demand. In addition, it will help reduce the operational cost for budding entrepreneurs, who can then use the platform to promote their brands and products to boost sales, Tai stressed.
He also vowed that the authorities would continue to support various kinds of cross-border e-commerce activities and closely collaborate with local businesses to help Macau’s small-and-medium enterprise (SMEs) to shine on the mainland business stage.
The support measures are designed to nurture local business and drive economic diversification, he said.
According to People’s Daily, the live-streaming e-commerce industry in China was forecast to generate 1.05 trillion yuan in 2020, up 210% year on year, whilst the penetration rate of live-streaming sessions in China’s e-commerce market hit 4.1% last year.
The surging sales data for Taobao Live, a live-streaming platform for merchants on the Taobao marketplace, is a testament to the surging popularity of live-streaming e-commerce.
As stated in a report by Alibaba, Taobao Live raked in USD7.5 billion just within the first 30 minutes of the presales campaign for China’s annual Singles’ Day shopping festival on November 11 last year.
One merchant, a member in Macau’s first live-streaming center, told the press yesterday that the live-streaming sessions can help boost consumption intention, as merchants are able to give a more detailed and interactive description of products to attract prospective buyers.
The center will operate on a membership basis. It will offer broadcast rooms and technical gears for local enterprises to host live-streaming shows. It can accommodate a total of over 50 live anchors at any one time.
Alex Lao, chairman of Multinational Holdings Group, also presided at yesterday’s ceremony. He said that the center would not only fill the void in Macau’s live-streaming commerce market, but also provides much-needed momentum to help cultivate new and innovative industries.
In the first stage, the center will feature products with local characteristics, such as Macau’s souvenirs, local clothing and jewelry brands.
The organizers will announce the details regarding the center’s training scheme for live-streaming skills in May.