Abstract
The emerging of new media platforms and technology advancements is changing the landscape of online retailing and "touchpoints" in the consumer journey. How does the livestream marketing model influence the consumer decision-making process, and why it achieves exponential market growth within years are significant to answer? This article utilized the Five-Stage Model of the Consumer Buying Process, content, and data analysis method to conduct an in-depth case study of Alibaba's Taobao T-mall "Double 11" livestream marketing campaign amid COVID-19. The result shows that livestream marketing plays as an amplifier and filter that stimulates consumers to make the most cost-efficient purchase choices and largely shortens decision-making time. It undertakes the responsibilities of simultaneously entertaining the audience with intriguing digital content and providing consumers with seamless purchase experiences. The high integration degree between supply chain and livestreamers, showrooms and online e-commerce stores, brands and consumers empowers livestream marketing to convert public traffic pools into precisely segmented private traffic communities. Supported by a mature ecosystem, livestreaming will help create a multi-win situation for brands, consumers, online retailers, livestreamers, and e-commerce platforms with a lower barrier to entry and higher conversion rate across niche markets. This article is applicable to further studies in the academic fields of digital marketing, online retailing, psychology, economics, business, and sociology. It will also provide marketers and brands with strategic tools to better understand consumers' decision-making process, adapt to new alternations of "moment that matters", precisely target segmented audience groups, and enhance overall business performance.
Highlights
The knowledge of consumer behaviors is the root of all kinds of marketing decisions [1]
The digital content creators in the livestreaming showrooms will feature speakers for both brands and consumers and evaluate by following criteria: The performance and unique features of products, the reputation of brands, benefits or discounts offered in the livestreaming, ratings and feedbacks from other consumers, comparison with similar products or brands, add-on values, such as longer warrantee
COVID-19 has accelerated the development of information technology and the digital economy
Summary
The knowledge of consumer behaviors is the root of all kinds of marketing decisions [1]. Knowing and predicting how consumers behave and why they make buying decisions are significant for companies and brands to improve marketing strategies and achieve business success in the market [2]. With the emergence of technological advances and new shopping platforms, the COVID-19 pandemic has deeply changed consumers' shopping and buying habits with new regulations and procedures [3]. The boundaries between stores and homes have been blurred, deeply influencing consumers' shopping habits and consumption experience. To capture the increasing demand for online shopping and home entertainment, marketers are thinking about new ways to better engage in consumer decision-making. The accelerated development of digital marketing catalyzed the thrive of new marketing models: livestream marketing strategy
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