In an unprecedented event, a live stream on TikTok in Vietnam generated a staggering 75 billion VND in a single session - that's approximately US$3,000,000.

This milestone not only showcases the burgeoning potential of livestream commerce but also sets a new benchmark for digital sales in Vietnam and the region. 

Key Takeaways:

• Record-Breaking Sales: A single session amassed 75 billion VND, selling over 151,300 products to 2 million viewers
• Influencer Power: Prominent influencers and a continuous 13-hour stream played pivotal roles
• Strategic Engagement: Exclusive deals, FOMO effect, and dynamic live streaming artistry drove unprecedented engagement and sales
• Future Trends: The success heralds a growing trend for live streaming and affiliate marketing on TikTok Shop in Vietnam, with implications for content creators and sellers alike.

Yesterday evening, whilst watching a film, my friend messaged me. 

"Sis, check this out, they've already sold 50 billion VND worth of products!"

I promptly joined the Quyen Leo Daily TikTok livestream, along with over 30,000 others. It had more than 6 million likes. Within 10 minutes, I witnessed irresistible deals plummet from more than 600,000 VND to just over 200,000 VND plus gifts. I didn’t hesitate to place an order.

The enticing deals continued to appear, urging viewers to make purchases, and the revenue kept climbing.

Occasionally, the live stream team would pause to celebrate and thank customers as they reached revenue milestones.

After 13 continuous hours of streaming, they had sold over 75 billion VND worth of goods, covering 95 product codes and involving 50 brands across various categories such as food, cosmetics, home appliances, jewellery, electronics, FMCG, and fashion.

A new TikTok live streaming record

Live shopping provides an e-commerce experience where sellers can showcase their products to buyers through live broadcasts on the TikTok platform.

Sellers could be brands, direct sellers, or content creators who earn commissions through affiliate marketing. 

TikTok live isn't entirely new, it started in 2021, and Vietnam has seen its share of stars such as Vo Ha Linh, Phạm Thoại, and others.

But this was the first time a live stream lasted 13 hours, featuring popular influencers like Thuy Top, Long Chun, Lan Vat, Ngoc Nguyen and Huyen Huho, making it a record-breaking event for Quyen Leo Daily.

The live stream achieved:

•  1 billion VND within the first 5 minutes (approx US$40,000)
•  5 billion after 15 minutes (approx US$200,000)
• 10 billion within an hour (approx US$400,000)
• 20 billion after 2 hours (approx US$800,000)
• And 75 billion (approx US$3,000,000) after 13 hours, sold 151,300 products to 2 million viewers!

A simple calculation suggests that if 80% of orders are successfully delivered and the commission for affiliate marketing is between 10-15%, the Quyen Leo Daily team could earn between 6 to 9 billion VND in commissions, or upwards of US$242,000.

Their success can be attributed to several key factors.

1: Continuous content creation plus live streaming sales

Quyền Leo Daily, previously known as Banh Bao Family, regularly update their channel with content related to everyday life and adorable moments of their daughter, attracting a lot of interaction with each post.

This approach helped them build a customer base, mainly consisting of family-oriented individuals with stable incomes and significant purchasing power.

The increase in followers was not only due to the content produced on the channel but also through the live sales events they conducted. For example, before the live stream, they had 3.7 million followers, which increased to 4 million after the session, marking a gain of 300,000 followers in one day.

They had also regularly updated their audience with their live stream records, such as earning 1 billion VND within 15 minutes, nearly 13 billion after 8 hours, and 22 billion after 12 continuous hours of live streaming.

These impressive figures gradually built credibility among consumers and various brands.

2: Pre-live stream promotion

Similar to e-commerce platforms like Shopee and Lazada, TikTok Shop engages in promotional activities to attract buyers on memorable dates each month, such as 2.2, 3.3, 4.4, etc. This cultivates a habit among consumers to check the platform for sales on these memorable days.

Also, the participation of well-known KOCs (Key Opinion Consumers) in the Quyen and Lan Anh live stream played a crucial role. KOCs included the likes of Long Chun, Huyen Huho, Thuy Top, An Cung Ba Tuyet, Lan Vat, etc., who all have massive followings.

These KOCs promoted the event on their channels, informing their audience about the upcoming live stream and enticing them to join.

The channel owners also promoted the event with intriguing descriptions to attract viewers, such as announcing a mega-million dollar sale on 2/3, offering a 2 million VND voucher for event registration, launching 3,000 deals at the start of the live session at noon on 2/3, and promising unprecedented low prices with additional huge gifts.

3: Super attractive deals

Beyond the presence of famous KOLs and KOCs, what most viewers look forward to in a livestream are the highly attractive deals. The sellers in the live stream had to negotiate with brands beforehand to secure exclusive discounts that only they could offer, similar to the strategy used by live stream success stories such as Vo Ha Linh.

The credibility of the seller helps convince brands to offer significant discounts, which hooks in the viewers and generates revenue.

During the live stream, products were presented with their original prices, followed by the special deal prices, which were often half or even a third of the original, making it hard for viewers to resist.

4. The FOMO (Fear Of Missing Out) effect

To achieve the staggering sales figure of 3 million USD, having the ability to trigger the audience can’t be overlooked. The FOMO effect played a significant part in this, as it led me to finalise two purchases within 30 minutes. 

It's also worth noting that after revisiting my shopping cart and reviewing the products, I realised that one of the items was not essential. The ease of order cancellation, especially with COD (Cash on Delivery) payment options, allowed me to cancel after more careful consideration. 

TikTok Shop's statistics indicate that the rate of order cancellations or "no-shows" for deliveries ranges from 20% to 30% depending on the product category.

5. The art of live streaming

Maintaining an engaging and energetic live stream session that not only entertains but also drives significant sales is an art form mastered by the hosts of the Quyền Leo Daily's 2/3 live stream. 

These experienced live streamers have spent countless hours on air, learning how to connect with their audience, when to introduce deals to boost early session viewership, how to present products effectively, how to limit quantities for special deals to induce FOMO, and how to create a sense of urgency to encourage quick purchasing decisions. 

Their ability to maintain this dynamic energy is crucial, as they understand that new viewers are constantly joining, and they need to convert these viewers into buyers to achieve success.

These strategies and insights provide a comprehensive understanding of the factors that contributed to the record-breaking success of the live stream session, highlighting the importance of content creation, promotion, exclusive deals, understanding consumer psychology, and the skilful execution of live streaming.

New revenue channels for 2024?

This three million-dollar live stream session highlights that, in 2024, live streaming and affiliate marketing will continue to expand on TikTok in Vietnam, providing significant revenue opportunities for brands and distributors. 

The extraordinary success seen in live stream sales is set to spur the creation of numerous training centres and courses aimed at developing skills in effective live streaming and sales-focused content creation. 

Moreover, the collaborative synergy between brands and skilled content creators and sellers is expected to open up considerable revenue channels in 2024. 

Such partnerships not only capitalise on the influencers' reach and credibility but also provide brands with a dynamic platform to connect with a broad audience, heralding a promising future for the e-commerce sector.

This story was also published in Vietnamese language on Brands Vietnam.