Lee Teng learns expensive lesson in business
Star power or not, nobody can predict the result of a livestream sale.
Just ask local television host Lee Teng.
He told Shin Min Daily News: "Artistes doing e-commerce should not be seen as an end point, but a trend. It's like another kind of endorsement. Goods can be sold within a few hours through talking. The efficiency is higher.
"Livestreaming will definitely make money, and how much you make depends on your personal reputation. Performing, on the other hand, cannot be measured by money. What it creates is the value of artistes."
Lee Teng started doing livestream sales during the Covid-19 pandemic and plans to expand it in 2024. He and his wife Gina Lin started in 2022 a 'self-media' company, which Lee Teng described as "a bridge between livestreamers and merchants".
But the Taiwan-born artiste will never forget a mistake that cost him a big loss. "We started group-buying and importing Taiwanese snacks during the pandemic. But because we didn't calculate the shipping costs properly, we ended up losing thousands of dollars."
Lee Teng is just one of the artistes leveraging their star power in livestream sales.
Former actor Terence Cao joined forces with veteran director Jack Neo to form Star Live, with 15 other personalities on the livestreaming platform. They include Dawn Yeoh, Collin Chee, Tang Miaoling, Henry Thia and Simonboy.
Get The New Paper on your phone with the free TNP app. Download from the Apple App Store or Google Play Store now
