报告时间：2023年11月28日（周二）12:30-13:30

报告地点：中国人民大学明德主楼1031

报告嘉宾：楚燕来

报告主题：Promotion or Advertisement?

Direct and Indirect Effects of Live Streaming

报告摘要

Promotion or Advertisement?

Direct and Indirect Effects of Live Streaming

This paper investigates the impact of live streaming on store performance and dissects it into direct and indirect effects. Leveraging a unique dataset encompassing 4,602,386 orders for 6,074 stores and comprehensive streaming records for related influencers, we employ two-way fixed-effects regression models with propensity score matching to assess the impact of staggered adoptions of live streaming. Results indicate a significant increase in revenue and unit sales for adopters, validated by a recent heterogeneity-robust estimator for staggered treatment and a causal-forest method. Decomposing the impact reveals surprisingly strong spillover effects and carryover effects: dominated spillovers out of a session on the streaming day and positive carryovers in the next 7 days. Mechanism analyses uncover that the sales impact hinges on influencers’ ability to retain users in the session, kindle their interests in exploring items, and stream longer. Heterogeneity analyses show that category-expert influencers rely more on spillovers than direct sales impact compared to the top influencers, both yielding positive carryovers. Furthermore, streaming trendy items increases sales for non-stream ones in the same shop, whereas streaming non-trendy ones lift sales for themselves only.

作者简介

楚燕来，中国人民大学商学院市场营销系助理教授，新加坡国立大学商学院哲学博士，武汉大学测绘学院工学学士，辅修华中科技大学计算机。研究兴趣包括量化营销，结构模型，机器学习，品牌资产，直播电商，共享经济，汽车市场及相关政策评估，消费者自我控制。已有研究发表于International Journal of Research in Marketing，Energy Economics，南开管理评论等中外经管期刊，著有《直播电商的逻辑》。主持多项国家级、校级科研项目，负责 “营销决策模型”123金课建设，为路特斯等公司提供咨询服务。