Glory Star Jointly Releases White Paper on China’s Video Content-Driven E-Commerce Industry Together With iResearch
BEIJING, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, today announced that it has released its White Paper on China’s Video Content-Driven E-Commerce Industry (the “White Paper”) produced by iResearch Consulting Group (“iResearch”) and commissioned by Glory Star. The White Paper outlines the future trends of the video content-driven e-commerce industry in China as well as the competitive edges of key players in the market. The White Paper can be accessed on the Company’s investor relations website at http://ir.gsmg.co/content.html?id=715.
The following are some of key highlights from the White Paper.
Emerging variation of e-commerce video content
Video content-driven e-commerce platforms use videos to augment the consumption needs of consumers while bundling content with products to achieve better sales conversion. At the industry’s early stage of development, livestreaming channels were dominant in terms of customer engagement. Now, as more innovative media content has been created throughout the years, other types of content outside of live streaming have become increasingly interactive, thematic, scenario-driven, and entertaining.
Early-mover advantages have led to further market consolidation
In the context of rapid market development, those industry players with an early-mover advantage have been able to obtain large amounts of capital investments. As a result, these industry players have been able to increase their advantages relative to other organizations by leveraging these resources and managing their supply chains in accordance with user traffic levels.
Industry-level and local policies are guiding the industry along a steady development path
A growing number of policies at the industrial and provincial levels have been implemented since the start of 2020. These policies have helped to stimulate investment within the video livestreaming e-commerce industry at a rapid pace.
Focus on platforms that combine products and sales to increase traffic and upgrade customer experiences
It is no longer enough for video content-driven e-commerce platforms to only focus on growing platform traffic. Leading players are now expected to increasingly redirect their attention towards the core competitiveness of their product portfolios and the back-ends of their supply chains to ensure the quality of both and therefore better compete for online traffic.