Live-streaming e-commerce is the fastest-growing area of China’s internet, but buyer’s remorse is common



a close up of a motorcycle mirror: The online retail market is one of the few sectors that has not suffered from the coronavirus pandemic, according to the Chinese Ministry of Commerce. Photo: EPA-EFE


The online retail market is one of the few sectors that has not suffered from the coronavirus pandemic, according to the Chinese Ministry of Commerce. Photo: EPA-EFE

Live-streaming to sell products is the fastest-growing internet application in China this year, with 309 million users in June – about a third of the country’s internet population – but nearly half of the shoppers who buy through these channels are unhappy with their purchases, according to a new report.

The report by government-affiliated China Netcasting Services Association (CNSA) was based on several sources, including interviews with more than 3,000 users who had watched video content online in the last half a year, surveys of industry experts and other research.

Around 15.7 per cent of users surveyed said they were convinced solely by live-streaming shows or online videos to buy goods and over half of these have spent more than 500 yuan (US$74) on their purchases, according to the report released on Monday.

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Impulse buying among live stream viewers was the highest in the daily necessity and food and beverage categories, the report said, adding that only 51.5 per cent of those that had bought products through online live streams were satisfied with the goods they received.

Live-streamed shopping campaigns have been credited with helping China’s retail sector recover in the past few months as the domestic economy gradually reopens in the aftermath of the coronavirus pandemic. There were over 10 million e-commerce live-streaming sessions in China attracting more than 50 billion views in just the first half of the year, according to China’s Ministry of Commerce.

E-commerce, live-streaming are bright spots in China’s retail scene

But the growing popularity of such campaigns has also

LeaseAccelerator Named to the 2020 CB Insights Fintech 250 List of Fastest-Growing Fintech Startups

NEW YORK, Sept. 29, 2020 /PRNewswire/ — CB Insights has named LeaseAccelerator, the leader in the Lease Lifecycle Automation (LLA) software market, to its third annual Fintech 250 list, a prestigious group of private companies working on groundbreaking financial technology.

(PRNewsfoto/LeaseAccelerator)
(PRNewsfoto/LeaseAccelerator)

“We’re proud to recognize the best private fintech companies globally. This year’s Fintech 250 represents 25 countries across 19 categories – reimagining everything from retail banking and crypto, to insurance and asset management,” said CB Insights CEO Anand Sanwal. “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits, and we expect this year’s class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money.”

“We’re passionate about helping organizations unlock the potential of their leasing programs. Although leasing is complex with multiple standards and a rapidly changing economic backdrop, our Lease Lifecycle Automation platform delivers sustainable compliance, new free cash flow, and quantitative ROI for our customers,” said Michael Keeler, CEO of LeaseAccelerator. “We are thrilled that CB Insights recognized us in this year’s Fintech 250 group.”

Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies based on several factors. These factors include patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the growth potential of private companies to help predict a company’s momentum.

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At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the