Shanghai livestreaming sales top $68 billion

Shanghai dominated China's livestreaming retail market last year, registering 493.7 billion yuan ($68.98 billion) in sales, a 12.9 percent year-on-year increase, according to the Shanghai Municipal Commission of Commerce.

The city now plans to further refine the industry to promote high-quality growth in the sector.

Romomo Livestreaming Center, a subsidiary of Buy Quickly located in Changning district, exemplifies this effort.

The center provides comprehensive services to more than 120 international brands within its 20,000-square-meter facility that features 150 studios tailored for specific brands and employs 300 livestreamers.

Zhao Meiling, head of government affairs at Buy Quickly, said Romomo aims to improve commercial efficiency by elevating brand livestreaming through quality content and technical support, and facilitating data-informed business decisions.

Changning district intends to further develop its livestreaming economy cluster, concentrating on fashion consumption. The district hopes to establish itself as a leading hub for livestreaming e-commerce, innovative services, and integrated supply chains.

As part of a three-year action plan for 2024-2026, Shanghai aims to reach 600 billion yuan in livestreaming e-commerce sales by 2026. The plan is designed to stimulate high-quality growth of livestreaming retail in the city.