Chinese video platform iQiyi has launched a new livestream shopping service, blending ecommerce with its original entertainment content.

Still in trial mode, the platform will feature live commerce sessions tied to celebrities who appear in iQiyi’s in-house dramas and variety shows. The initiative offers a new way for fans to engage with familiar faces while shopping in real time.

Yu Gong, founder and CEO of iQiyi, said the company’s paying subscribers are its most valuable potential consumers. “Like a sieve, our platform filters out the most capable online shoppers by tapping into the fan economy,” he said, adding that livestream shopping has strong monetization potential and a vast market.

The company plans to focus on building the foundation for its ecommerce operations this year, with accelerated growth expected in 2026. Gong said he envisions livestream commerce becoming a key revenue engine as China’s streaming industry grows increasingly competitive.

🔗 Source: Sina

🧠 Food for thought

1️⃣ China leads the global livestream shopping revolution with massive market scale

iQiyi’s entry into livestream shopping comes amid China’s dominance in this space, where the market reached $695 billion in 2023 following extraordinary pandemic-era growth rates of 196% in 2020 and 136% in 20211.

The adoption in China demonstrates the potential of this model, which has already influenced shopping behaviors with platforms like Taobao generating over $15.1 billion through livestreaming back in 20182.

This scale provides context for iQiyi’s strategic timing. They are entering a mature ecosystem where Chinese consumers already engage with livestream commerce, with 456 million viewers participating as early as 20182.

For iQiyi, with its reported 500 million monthly active users, the opportunity to convert even a small percentage of viewers into shoppers represents significant revenue potential3.

Their focus on leveraging their intellectual property and celebrity connections follows established patterns in China’s livestream commerce landscape, where key opinion leaders and entertainment content drive engagement and sales.

2️⃣ Content-to-commerce integration offers higher conversion potential than traditional e-commerce

iQiyi’s strategy aligns with industry data showing livestream shopping delivers conversion rates up to 30%, significantly outperforming traditional e-commerce channels by creating urgency and addressing customer questions in real-time4.

Their approach targeting paying subscribers is particularly strategic as these users have already demonstrated willingness to pay for content, making them prime candidates for monetization through shopping experiences.

The entertainment-shopping hybrid model leverages emotional connections fans have with shows, celebrities, and content, potentially reducing the consideration period needed for purchase decisions5.

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