Taobao is making another big move.
On March 28, the 2024 Taobao Content E-commerce Festival announced that it will add 10 billion dollars in cash and 100 billion dollars in traffic this year. Real money will increase investment in content e-commerce, and share the new dividends of doubling growth with anchors, celebrities, organizations, brands, merchants and other ecological partners.
After the establishment of Taobao's content e-commerce division in December of last year, Taobao Live and Shopping teams merged to open up live streaming, short videos, and graphics for the first time, bringing more space for Taobao merchants to improve their circulation, conversion, retention, and repurchase. Cheng Daofang, general manager of the content e-commerce division of Taotian Group, said, “Taobao's content and e-commerce in 2024 will change from addition to multiplication to release a new round of content e-commerce dividends.”
Picture: Cheng Daofang, general manager of the content e-commerce division of Aotian Group: “Taobao's content and e-commerce will change from addition to multiplication to unleash a new round of content e-commerce dividends.”
Over the past year, Taobao content e-commerce has grown strongly. According to festival data, in 2023, Taobao's number of content consumers increased 44% year-on-year; the number of live broadcast rooms with monthly sales exceeding one million reached 12,000; 8.63 million new content creators were added, and 770,000 new broadcast accounts were added.
At this festival, Cheng Daofang announced a higher growth target for this year: the number of users increased 100% year over year, monthly sales surpassed one million anchors increased 100% year over year, and GMV increased 80% year over year. This goal means Taobao's confidence and determination to rapidly grow and invest in content e-commerce. In order to achieve this goal, in addition to heavy subsidies with real money, Taobao will also invest manpower and resources to support it, continue to promote the full integration of content X live streaming, increase the penetration rate of content e-commerce within Taobao, and normalize the marketing team to break up products.
The full integration of Taobao content and e-commerce will significantly improve the operational efficiency of ecological partners. Shopping has rich content forms such as short videos, graphic notes, and short dramas. After being integrated with the live broadcast, it opens up a full link of planting and storing water before the live broadcast, the outbreak of transactions during the live broadcast, and continuous operation after the live broadcast.
Judging from the consumer decision link, growing grass within Taobao has the best and shortest transformation path. This is Taobao's unique advantage. Brands and merchants have launched various experiments linked to live streaming in the form of content such as graphics, short videos, and skits.
The live broadcast room of the makeup brand Caitang, a cosmetics brand owned by Perea, stores water. The live broadcast recall effect was remarkable. The number of people entering the live broadcast room increased tenfold, and the purchase conversion rate reached 1.5 times that of the market.
Talents also have more commercial monetization channels on Taobao. Taobao gathers the largest domestic consumer base on one side and the world's largest brands and merchants on the other. Naturally, the content ecosystem has broad prospects. On Taobao, every fan can receive high-value offers. After the content is integrated with the live broadcast, the monetization path for testing the waters of live streaming is smoother.
According to iResearch's “2023 China Live E-commerce Industry Research Report”, live e-commerce in China continued to grow. The turnover in 2023 was 4.9 trillion yuan, and the growth rate was as high as 35%, which also injected a dose of strength into the industry.
In 2024, content e-commerce will enter the second half, and competition in the industry will become more intense. Diverse ecosystem partners, such as brand merchants, anchors, and agency MCN, place more importance on the long-term management of the business in addition to investing in sales and explosions.
As a new quality of productivity in the core e-commerce sector of the Taotian Group, Taobao increased its investment this year, adding 10 billion dollars in cash and 100 billion dollars in traffic, continuing to feed back content e-commerce, so that brands, anchors, celebrities and other ecological partners can share the dividends of content monetization.
In addition, on the day of the Taobao live streaming event, Alibaba Charity and the Taobao content e-commerce team also released the list of the top ten public service anchors in 2023. Honeybee Surprise Club, Li Jiaqi Austin, Oda Tia, Master Nicole, Cola Daydayup, Lin Yilun, Timor Little Crazy, Little Corn, Chen Jie Kiki, and Baby Lier Er were all on the list to pay tribute to them for giving full play to their influence in the industry and actively participating in public welfare broadcasting.