The first half of 2024 saw a surge in large-scale livestream selling events on TikTok, dubbed “Megalive,” with sales reaching tens to hundreds of billions of VND in each session, surprising the public and raising many questions.
For example, KOL Pham Thoai, in April 2024, achieved a remarkable 50 billion VND in sales during a 24-hour livestream session.
Quyen Leo’s TikTok channel, “Quyen Leo Daily,” boasted a record-breaking 100 billion VND in revenue from a 17-hour livestream with an average of over 30,000 viewers, surpassing his previous record of 75 billion VND.
Not stopping there, this TikToker organized another Megalive on May 5-6, targeting a staggering 150 billion VND in sales and offering extravagant gifts such as cars and 100 tablets to customers who registered and participated in the event.
Earlier, Vo Ha Linh also held a record-breaking livestream with 58,000 simultaneous shoppers, generating 1.5 million USD in revenue….
Quyen Leo Daily’s Hundred-Billion-Dong Megalive
However, in the last two to three months, many have wondered why KOLs and celebrities still regularly host lengthy Megalive sessions but no longer announce the tens or hundreds of billions of dong in sales as before.
In an interview, a KOL named N.X., with nearly 3 million followers (who wished to remain anonymous), revealed that the reason behind the disappearance of these high-revenue Megalive events is the backlash and negative consequences that followed. KOLs were subjected to gossip, misinformation, and scrutiny, including their personal lives and tax obligations. There were also mixed opinions about “herding” tactics, clickbait, and the impact on the platform’s community and consumers. As a result, in recent months, KOLs, platforms, and even brands have refrained from disclosing Megalive sales figures.
“In fact, there are still Megalive sessions that generate tens of billions of dong in sales during super sale events… but KOLs and artists no longer display the sales figures to avoid risks and protect their reputations and collaborations with other brands,” the KOL explained.
E-commerce expert Do Quang Huy, Director of Ecotop, shared that the initial Megalive sessions with billions of dong in sales were promotional strategies to attract consumers to shop via livestreams. Now that consumers are accustomed to this shopping method, there is no longer a need for such aggressive promotion, hence the absence of “astonishing” sales figures.
“KOLs are now very cautious because announcing incorrect sales figures can significantly damage their credibility and deter potential brand collaborations,” said Mr. Huy.
