Partners with leading Chinese multi-channel network for promotions
In recent years, content-driven e-commerce has been surging in China. Alibaba Group’s dedicated live streaming channel, Taobao has thrived in 2019 with live streaming-led transactions growing over 150% for three consecutive years. Observing the trend, Blue Hat Interactive Entertainment Technology has partnered with Xiamen Xing Meng Wei Lai Culture Media Co. LTD. The partnership aims to build Direct-to-Consumer (DTC) social content marketing channels via short videos and live to stream.
As a producer, developer and operator of AR interactive entertainment games, toys, and educational materials in China, Blue Hat plans to gradually release its product line on various popular short video and live streaming platforms, including Douyin (TikTok).
Pulling the e-commerce market
Livestreaming has become one of the fastest-growing forms of e-commerce in China with over 500 million Chinese users. iiMedia Research in its study found that the market size of Chinese live streaming e-commerce has reached $61.5 billion in 2019, and is projected to double to $123 billion in 2020.
Previously, the majority of toy product sales came from the offline market. The unwelcomed COVID-19 pandemic has made room enough with an increase in the amount of time for parents and children to interact at home on a daily basis. Advantaging the situation, Blue Hat has been taking initiatives to shift its marketing focus to produce more social media and live stream content.
To bolster live streaming
As a leading Chinese multi-channel network and internet content development agency, Xing Meng Wei Lai—based on Blue Hat’s product line, application scenarios, and interactive features—intends to provide services from conception to execution. Additionally, the Company offers customized planning for live streaming events, design and launch of online stores, and additional content-driven e-commerce promotions.
“We believe that combining the power of short video live streaming with the reach of standard e-commerce platforms will be an important driver of Blue Hat’s online sales looking forward. With our comprehensive online and offline sales network, we believe we are building future revenue growth for our products,” commented Mr. Xiaodong Chen, Chief Executive Officer of Blue Hat.
