Lately, a massive hit worldwide has been e-commerce livestreaming.
The global livestreaming market has been estimated to reach USD $247 billion by 2027.
That sounds like a very promising figure.
Especially because of COVID-19, there have been large revenue losses across multiple industries. Livestreaming has spiked tremendously while many manufacturing factories globally were forced to shut down.
Guess you can say it was a “blessing in disguise”.
Company engaged media company to promote products through live-streaming
11 November, otherwise known as Singles Day, is a day where many promotions are pushed forth.
One company decided to engage a media company to boost their product sales last year on Singles Day.
A very common marketing move these days.
The livestreams were supposed to have famous Hong Kong actor Jordan Chan as one of the hosts. However, things did not turn out as planned.
The livestream page did not have the product links.
Yes, that meant that viewers weren’t able to make any purchases or check out. What a bummer.
The broadcast had to stop after a few minutes. The media company was, unfortunately, not able to get Chan back for a make-up livestream session.
They had to get his assistant to host instead.
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Company suffered a great loss
Livestreaming involves a considerable amount of money pumped in to make it work.
In this instance, the media company had to pay approximately S$108K for 16 livestreams across a period of 11 days.
So how much exactly did the brand that sells massage tools manage to make?
Technical errors heavily impacted all three live-streaming sessions. After everything was over, the company only managed to sell 5,000 yuan worth of products.
That’s only S$1K.
Company won lawsuit; media company to offer refund
Ultimately, the brand sued the media company and managed to win the lawsuit.
The media company had to issue a refund to the company. This came after the court ruled in favour of the company for a breach of contract.
After all, the company paid for Jordan to do the hosting and not his assistant.
Since there were only three livestreams done instead of 16, the company also had an upper hand in winning the lawsuit.
The media company had to compensate approximately S$87K to the massage tool brand.
They should have engaged Wang Lei, shouldn’t they?
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Featured Image: Viki
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