What Is Internet Celebrity Economy?

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Author: Richelle
Published: 16 Nov 2021

Zhang Dayi: Online Fashion Store

A total of 5,000 clothing items sold out in two seconds from an online store run by Zhang Dayi. A former model who frequented fashion magazines is now the owner of an online shop that is set up on the largest online retailing platform in China. The sales volume of a brick-and-mortar shop over a year is equivalent to the sales of all the new products in three days.

There are over 1,000 shops run by Internet celebrities. 7 out of the top 10 women's clothing stores are owned by Internet celebrities, during the "Double 11" day, when shops on Taobao offer big discounts. Every time a celebrity's shop launches a new product, they can make 10 million yuan.

Internet Celebrities

Most of the Internet celebrities earn money from endorsements, but they can make money in other ways. Internet celebrities can use their fame to promote products or experiences to their followers, and are believed to provide credibility to products. They can be contacted by advertising companies to help promote their products if they have enough attention and following.

The influence of the internet celebrity can be turned into profits, and most of them are pushing and promoting products in a huge amount of money, according to Professor John Gong. Hong Hao, the chief strategist of Bank of Communications, said that more and more products are advertised through internet. The coronaviruses caused people to stay at home and play with their phones, leading to a huge surge of mobile activities between 50 and 100 percent year-on-year.

Hong and Gong both agreed that the technology breakthrough makes it easier to go online. Hong said that technology, social change and people's craving for attention from others are important factors in the trend. The CEO of Lime Education, who is also an internet celebrity, said that the prices of the goods are usually quite favorable.

Partnering with Influential People: A Survey of Online Retailers

Retailers have recently found themselves in a difficult spot when it comes to marketing. Newspapers and television are losing out to digital at a rapid rate. It's getting harder to place an ad on the internet.

In June, it was announced that the popular Chrome browser would begin blocking annoying ads and that the 30-second unskippable ad format would be eliminated by the year. The landscape has become more difficult to navigate due to failed corporate attempts to sound cool and the strong aversion of the younger generation, Generation Z. Setting up a partnership with an influential person isn't as simple as you might think.

Jeremy Shih, head of marketing at Mediakix, said that a retailer's relationship with an influential person is often part of a multi-level strategy. Many of the most valuable people are not known outside of their circles. Weinswig said they looked at a number of different types and levels of the people on the scene.

The Notoriety of Stephen Holmes

The support network built into the experience offline celebrity that helps to protect the star from the baying mass isn't online and the fleeting fame often associated with successful meme or accidental "cewebrities" can be problematic. It is strange that notoriety can thrust strange responsibilities upon people who may suddenly become well known for being the only person followed on a social networking site by a famous musician, as was the case with Stephen Holmes in the summer of 2010 when he was filmed pretending to be a celebrity. Such accidental celebrity can cause hardship for the person who is now doorstepped by the global media.

Celebrity Culture in China and India

Companies use celebrities to advertise everything. famous people can bring attention to a brand in a way that no other type of advertising can because they are instantly recognisable and popular. It is difficult to gauge the celebrity influence.

It is thought that the percentage of celebrities in advertisements in the US is higher than in Europe. The rate is around 16% in Germany. The celebrity culture is widespread in Asia.

In South Koreand Japan, it is thought that 70% of commercials feature a celebrity. The phenomenon has gained traction in Chinand India in a short time. China has put its trust in leaders and elders in the past.

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