The main focus of this feature is on "Ben Thanh Market" and "Caty Dragonfruit Noodles." The surge in orders from small businesses at Ben Thanh Market after being live-streamed by Key Opinion Customers (KOC) and the success of Caty Dragonfruit Noodles due to a viral effect on social media, what does it say about the new trend in sales? Let's explore this through the article below with Upbase!
Ben Thanh Market closes more than 18,200 orders through live-streaming sales
It can be seen that live-streaming sales are truly booming on social media platforms and e-commerce websites in Vietnam, especially as young people spend more time browsing social networks. Shopping via live streams is also stimulated by the talents leading and anticipating trends of content creators, key opinion customers (KOCs), celebrities... Along with exclusive offers from e-commerce platforms or from the brands themselves, many deep discounts and free shipping opportunities provide an exciting shopping experience for users.
After a long period of revenue difficulties due to Covid-19, the management board of Ben Thanh Market in Ho Chi Minh City decided to invite over 100 Key Opinion Leaders (KOLs)/Key Opinion Customers (KOCs)/TikTokers to conduct live-streaming sales to help market traders at the market from December 11th to 16th. And just after 5 days, over 18,200 orders were confirmed! Many market traders expressed great regret as they did not have enough goods to meet the unprecedented surge in orders.
The management board of Ben Thanh Market also stated that this activity not only stimulates shopping demand and boosts revenue for the market but also guides market traders on a new trend in sales methods of the era. That is live-streaming sales on social media and listing products on e-commerce platforms!
The influence of social media and e-commerce has spread to every corner of socio-economic life, even reaching small stalls in traditional markets.
Combined with e-commerce, the form of selling via live streams is providing retailers, businesses, and even farmers with a wide-reaching, easily accessible sales channel, delivering superior value. This business model is changing the retail industry and becoming one of the main trends in future sales.
See more: Instructions for setting up a Tiktok Shop livestream studio for businesses
Shopee revenue of Dragon Fruit Instant Noodles increased 612 times in 2 weeks
The representative of EcomHeat platform from YouNet ECI, a data analytics company for e-commerce, stated that after going viral on social media with the ad video "The First Time" creating an impression, the Shopee store of the Caty Dragonfruit Noodles brand saw its revenue increase by 612 times, reaching 53 million Vietnamese dong, equivalent to selling over 4,800 packs of noodles in 14 days (from November 23 to December 6, 2023).
According to YouNet ECI, before gaining attention on social media, during the 30 days from October 23 to November 22, the Caty store on Shopee only generated a meager revenue of 962,000 Vietnamese dong despite being operational for 23 months.
Prior to this, YouNet Media recorded nearly 1 million interactions and over 126,000 discussions within 72 hours (November 27-30, 2023) revolving around the Dragonfruit Noodles on social media. Although not a new brand, the uniqueness and humor of the promotional video "The First Time, Dragonfruit in Instant Noodles" helped this noodle dish spread across social media in just 3 days.
This unexpected viral phenomenon on social media has truly created a significant transformation and helped this brand skyrocket its revenue on e-commerce platforms. The shift in consumer trends and purchasing behavior has made social media and e-commerce inseparable.
When conducting e-commerce business, you will have many marketing tools, and most of them are related to social media. Social media-based e-commerce marketing is the application of social media communication to promote online stores by increasing brand awareness, engaging customers with products/services, and driving revenue growth.
According to Hootsuite's Global State of Digital 2022 report:
- 57.5% of Internet users aged 16-64 purchase at least one product/service weekly.
- 26.5% of social media users utilize online social platforms to research products they intend to purchase.
Therefore, for businesses to operate successfully on e-commerce platforms, bring about a surge in orders, and achieve breakthrough revenue, they must invest in creating compelling content to make their brands stand out on social media platforms and reach more potential customers, gradually directing them to their online stores. And the success story of Caty Dragonfruit Noodles is the clearest evidence of that.
See more: 3 2024 Tet programs on Shopee that sellers need to know
Conclusion
The trend of online shopping, the significant growth of the e-commerce industry, and the widespread influence of social media are gradually impacting the economic life, consumer habits of households, and changing how businesses, enterprises, and brands promote products and reach potential customers.
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*Image source: VnExpress, Younet ECI
