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Conversational commerce is e-commerce via various means of messaging, including via voice assistants [33] but also live chat on e-commerce Web sites, live chat on messaging applications such as WeChat, Facebook Messenger and WhatsApp [34] and chatbots on messaging applications or Web sites.
According to Alibaba, the largest online retailer in China, the sale worth from its live-streaming commerce business during the Single’s Day Shopping Festival hit ca.20-billion-yuan (ca. $3 million) in November 2019.
Conversational commerce is e-commerce done via various means of conversation (live support on e-commerce Web sites, online chat using messaging apps, [1] chatbots on messaging apps or websites, voice assistants [2]) and using technology such as: speech recognition, speaker recognition (voice biometrics), natural language processing and artificial intelligence.
Consumer-to-business (C2B) e-commerce is when a consumer makes their services or products available for companies to purchase. [2] The competitive edge of the C2B e-commerce model is in its pricing for goods and services. This approach includes reverse auctions, in which customers name the price for a product or service they wish to buy ...
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The concept of social commerce was developed by David Beisel to denote user-generated advertorial content on e-commerce sites, [5] and by Steve Rubel [6] to include collaborative e-commerce tools that enable shoppers "to get advice from trusted individuals, find goods and services and then purchase them".
E-commerce is supported by electronic business. [3] The existence value of e-commerce is to allow consumers to shop online and pay online through the Internet, saving the time and space of customers and enterprises, greatly improving transaction efficiency, especially for busy office workers, and also saving a lot of valuable time. [4]
After a three-year development period between 2016 and 2018, China’s livestreaming e-commerce industry became popular in 2019. Today, it is a well-established ecosystem which in 2020 counted over 8,800 companies and 1.23 million live hosts, known in China as Key Opinion Leaders (KOLs), according to Shanghai-based new retail research firm iResearch. [3]