E-Commerce Boom and Bust: Live-Streaming's Impact on China's Economy
The E-Commerce Surge in China
The rise of e-commerce in China, particularly through live-streaming platforms like Douyin and Kuaishou Technology, has catalyzed a revolution. Beixiazhu emerged as a hot spot, particularly for aspirational merchants aiming for success in live shopping.
Challenges Faced by Live Streamers
However, the allure of quick profits faded. Intense competition known locally as juan stifled progress as merchants undercut each other. This hushed market, once bustling, now grapples with an oversupply of products and dwindling profits.
- Involution pressures on the industry
- Government policy shifts to combat excessive competition
- Resilience of Yiwu International Trade Market amidst challenges
The Future of E-Commerce
Despite a sluggish retail landscape, efforts are underway to revive optimism in the e-commerce sector. With recent government initiatives aimed at stimulating growth, stakeholders remain hopeful for recovery in 2024.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.