Blue Hat Announces Favorable Results from Streaming E-Commerce Initiative
Blue Hat Interactive Entertainment Technology, a leading producer, developer, and operator of augmented reality (“AR”) interactive entertainment games, toys, and educational materials in China, announced solid initial results from the Direct-to-Consumer (DTC) partnership with Xiamen Xing Meng Wei Lai Culture Media Co. LTD (“Xing Meng Wei Lai“), which was initially announced in June 2020 (Previously Announced Partnership with Leading Chinese Multi-Channel Network).
Xing Meng Wei Lai is a leading Chinese multi-channel network and internet content development agency that specializes in building DTC social content marketing via short videos and live streaming. After the initial two-month implementation period, Blue Hat held several live shows displaying its interactive software and products, which in aggregate totaled an audience of over fifty thousand consumers.
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Because of Blue Hat’s interactive component with software and AR products such as AR racer, Xing Meng Wei Lai developed operation strategies that the Company could implement to engage with end customers. Xing Meng Wei Lai assisted Blue Hat in coordinating live events over the past month following the establishment of an online channel for purchase. During the events, the click-through rate was about 20%, which exceeded the average industry level.
As a reference, the average industry level is 10% – 12.5%. The transaction conversion rate nearly 7% was based on the sale of nearly 250 products. The Company feels this establishes a solid foundation for the further development of content e-commerce.
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Mr. Xiaodong Chen, CEO of the Company, stated, “We have placed a renewed focus on leveraging new technologies and mobile purchasing trends to strengthen Blue Hat’s marketing initiatives. To date, we have been very pleased with our cooperation with Xing Meng Wei Lai. The click–through rate was exceptional and has led to a direct increase in sales during the quarter. In future periods, we expect to continue hosting live-event content as we unveil new interactive software and AR applications to the market. Following the onset of the global pandemic, we have gained considerable traction in engaging customers through a variety of strategic marketing initiatives, and to date, the results have led to strong sales results.”
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