The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Chinese authorities have released new guidelines to regulate the country’s booming livestreaming industry that are due to be implemented by May 25.
The measures, jointly released by the Cyberspace Administration of China (CAC) and six other government bodies, including the Ministry of Commerce (MOC) and the State Administration for Market Regulation (SAMR), set standards for livestreaming e-commerce platforms, operators and hosts.
They require livestreamers and operators to be at least 16 years old, or for minors under 16 to have the consent of a legal guardian, and ban fake advertising claims and data fraud (including bogus comments, likes, views and sales figures). They also put the onus on livestreaming platforms to handle complaints from consumers in a timely manner and to protect the personal information of their users.
China saw more than 24 million livestreaming marketing activities take place in 2020, but the explosive growth in the industry has been accompanied by complaints about some sellers boosting their own popularity and profits at the expense of consumer interests.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.